Eureka Acquisition Corp closes $50M IPO and $2.17M private placement on July 3, 2024

Eureka Acquisition Corp

Sold 5M units at $10/unit, gross proceeds $50M; each unit has one Class A share and one right to 1/5 share post-combination.
Sponsor purchased 216,750 private units at $10/unit, gross $2.17M.
Underwriters exercised over-allotment for 750k units on July 8, raising additional $7.5M.
Audited balance sheet shows $50M in trust account, $827k cash, and $214k accumulated deficit.
Auditor's report flags substantial doubt about going concern if no business combination by July 3, 2025 (or Jan 3, 2026 if extended).

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