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Eureka Acquisition Corp (NASDAQ:EURK), a $78.6 million market cap company specializing in blank check investments, announced today the appointment of Mr. Cameron Richard Johnson as an independent director, effective immediately. According to InvestingPro data, the company’s stock is trading near its 52-week high of $10.65. This appointment follows the resignation of Dr. M. Anthony Wong from the board of directors on March 20, 2025.
Mr. Johnson brings a wealth of experience to the role, having served as the senior partner at Tidalwave Solutions since 2019. His background also includes a tenure on the board of governors at the American Chamber of Commerce in Shanghai from 2022 to 2024, where he was vice chair in the final year. Additionally, he has been an adjunct instructor at New York University in Shanghai since 2020.
Recognized for his insights on US-China relations, supply chain, and international trade, Mr. Johnson has contributed to various media outlets and publications. His academic credentials include a graduate certification in business from the University of Wales and bachelor’s degrees from the University of Washington.
Mr. Johnson’s role will also include chairing the Audit Committee and serving on the Compensation Committee. He is considered an " Independent (LON:IOG) Director" under NASDAQ listing rules. The appointment comes at a time when the company maintains strong liquidity with a current ratio of 10.26, though InvestingPro analysis indicates the company is not currently profitable, with earnings per share at -$0.12 over the last twelve months. In conjunction with his appointment, Hercules Capital (NYSE:HTGC) Management Corp, the sponsor of Eureka Acquisition Corp, granted Mr. Johnson a share purchase option for 10,000 ordinary shares, set to become exercisable following the expiry of the existing lock-up term.
The company has not disclosed any additional compensatory arrangements for Mr. Johnson, but he has entered into an indemnity agreement with Eureka Acquisition Corp, as is customary for directors.
This strategic board enhancement comes as Eureka Acquisition Corp continues to navigate the complex investment landscape. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with additional insights available through their comprehensive financial analysis platform. The information reported is based on the company’s recent SEC filing.
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