Recent developments focus on the postponement and revised terms of the extraordinary general meeting related to the business combination with Marine Thinking Inc.

• Eureka Acquisition Corp announced the postponement of its extraordinary general meeting initially scheduled for June 25, 2025, to June 30, 2025 [N3].
• The company subsequently postponed the extraordinary general meeting again to June 30, 2025, revising the terms of the meeting [N2].
• On June 25, 2025, Eureka Acquisition Corp announced revised terms for the extraordinary general meeting scheduled for June 30, 2025 [N1].

The company’s business combination with Marine Thinking Inc. could provide access to the growing autonomous maritime technology sector, potentially creating shareholder value through the combination of capital and specialized technology. The extended timeline and support agreements indicate shareholder and sponsor commitment to completing the transaction, which may facilitate operational continuity and strategic execution post-combination.

The company faces risks typical of SPACs, including the uncertainty of completing a business combination within the extended timeline and the potential for shareholder redemptions, which have already resulted in significant funds being released from the trust account. The liquidity snapshot shows a current ratio and cash ratio of zero as of June 30, 2026, indicating potential liquidity constraints. Delays and postponements of shareholder meetings may reflect challenges in securing approvals or finalizing transaction terms, which could impact the company’s ability to consummate the business combination.

As a SPAC, Eureka Acquisition Corp's moat is primarily dependent on its ability to identify and consummate a value-creating business combination. The company’s strategic focus on Asia and its agreement with Marine Thinking Inc., a specialized autonomous ship and fleet solution provider, may provide a niche market entry. However, as a blank check company with no operating history or revenue, its competitive advantage is limited until the business combination is completed and the combined entity establishes operational scale and market presence.

• Business Combination Completion Risk: The company must complete a business combination by July 3, 2026, with monthly extensions possible. Failure to do so will result in liquidation and dissolution.
• Liquidity Risk: As of June 30, 2026, the company’s current liabilities significantly exceed current assets and cash, indicating potential liquidity challenges.
• Shareholder Redemption Risk: Significant shareholder redemptions have already reduced the trust account funds, which may limit available capital for the business combination.
• Regulatory and Approval Risks: The business combination requires shareholder approvals and regulatory compliance, with recent postponements of extraordinary general meetings indicating potential challenges.

• Eureka Acquisition Corp is a blank check exempted company incorporated in the Cayman Islands on June 13, 2023, formed to enter into a business combination with one or more businesses, initially focusing on Asia [S1].
• The company completed its IPO on July 3, 2024, issuing 5,000,000 units at $10.00 each, raising $50 million, plus private placements and an over-allotment option, with total proceeds of $57.5 million placed in a trust account for business combination purposes [S1].
• The company’s Class A ordinary shares and rights trade on Nasdaq under symbols EURK and EURKR, respectively [S1].
• Eureka Acquisition Corp entered into a business combination agreement on October 29, 2025, with Marine Thinking Inc., a Canadian autonomous ship and fleet solution provider, involving a domestication to Canada and amalgamation to form Marine Thinking Holdings Inc. [S1].
• The business combination includes support, voting, registration rights, and lock-up agreements among the parties to facilitate the transaction [S1].
• The company held an extraordinary general meeting on June 30, 2025, where shareholders approved amendments extending the deadline to complete a business combination up to 12 months to July 3, 2026, with monthly extension fees and related provisions [S1].
• Recent news reports indicate multiple postponements and revised terms for the extraordinary general meeting related to the business combination, with the latest scheduled for June 30, 2025 [N1][N2][N3].
• As of June 30, 2024, the company had cash and cash equivalents of $57,877 and current assets of $97,898, with current liabilities of $33,201,025, resulting in a current ratio and cash ratio of 0, indicating a liquidity mismatch at that date [S2].
• The company reported net income of $79,232 for the period ending June 30, 2026 [S2].
• Financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice [S2].