Eureka Acquisition, a blank check company targeting businesses in Asia, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-fifth of a share upon the completion of an initial business combination.
The company is led by CEO and Chairman Fen Zhang, a Founding Partner of Hercules Capital Group, where he is in charge of large scale alternative financing solutions for major commercial endeavors. While it has not selected a target industry, the SPAC plans to focus on businesses in Asia, including China.
Eureka Acquisition plans to list on the Nasdaq under the symbol EURKU. Maxim Group LLC acted as sole bookrunner on the deal.
