CSL shares plunge to 7-year low on delay in US vaccine business spinoff
Wolverine Asset Management LLC, along with other related entities and individuals, reported selling 14 shares of Eureka Acquisition Corp (NASDAQ:EURK) on July 16, 2025. The shares were sold at a price of $10.82, for a total value of $151. The transaction occurred as EURK trades near its 52-week high of $10.83, with a current market capitalization of $52.21 million. According to InvestingPro analysis, the stock appears overvalued at current levels.
The selling entities include Wolverine Asset Management LLC, Wolverine Holdings, L.P., Wolverine Trading Partners, Inc., Robert Bellick, and Christopher Gust. The shares sold were indirectly held by Wolverine Flagship Fund Trading Limited, with Wolverine Asset Management, LLC acting as its manager. InvestingPro data reveals concerning metrics for EURK, including weak profit margins and short-term liquidity challenges. Subscribers can access 6 additional key insights about EURK’s financial health and valuation metrics.
In other recent news, Eureka Acquisition Corp has entered into a material definitive agreement to issue an unsecured promissory note of up to $300,000 to Hercules Capital Management Corp. This development, filed with the Securities and Exchange Commission, involves a sponsor note that bears no interest. The funds will provide Eureka Acquisition Corp with general working capital. The note can be drawn down in increments until the company completes its initial business combination. The principal amount is due in full upon either the completion of a business combination or the expiration of the company’s term. These recent developments highlight Eureka Acquisition Corp’s efforts to secure financial backing as it seeks to finalize its business strategy.
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