Eucrates Biomedical Acquisition Corp.
EUCR · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Eucrates LLC, listed on Nasdaq in October 2020.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 26 October 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 250 WEST 55TH STREET, SUITE 13D, NEW YORK, NY, 10019
- registered in the British Virgin Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- SAXENA PARAG (Chief Executive Officer) · PAPADOPOULOS STELIOS (Director) · Vergetis Evangelos (Director)
- Listed securities
- EUCR common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 26 October 2020IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsEUCR is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 294 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Eucrates Biomedical Acquisition Corp. (ticker EUCR) was a blank-check company whose common stock was listed on the Nasdaq Stock Market. The company priced its initial public offering on October 26, 2020, according to a 424B prospectus filed with the SEC. On April 11, 2023, the company filed an 8-K announcing that it intended to dissolve and liquidate, returning trust cash to shareholders. The filing stated that trading of public shares would cease at the close of business on April 26, 2023, with redemption expected to be completed on April 27, 2023.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Four cents in favour of redeeming over selling, with the added certainty the proxy says the market may not provide. Six months of extension is sought with no deposit disclosed in the excerpt, so holders who stay fund the delay uncompensated. The five-business-day redemption window on failure is faster than the ten days most SPACs allow. Eucrates ultimately liquidated, confirming the trust claim was the return.
All the substance is in the subsequent events. The IPO of 10,000,000 units closed on October 27, 2020, placing $100,000,000 at $10.00 per unit in trust, and a partial over-allotment on November 24, 2020 plus additional private units brought trust to $104,796,260. Deferred underwriting is $3,667,869, or $0.35 per unit, and only $711,200 of cash sat outside trust at October 27, 2020, which is thin for a shell of this size and makes sponsor working capital loans likely. The $51,125 of sponsor advances was repaid at IPO closing.
The call on the warrants is a SINGLE trigger in this document — redemption when the ordinary share price equals or exceeds $18.00, in whole and not in part, at $0.01 per warrant on a minimum 30 days' notice, with that trigger adjusting to 180% of the higher of the Market Value and the newly issued price. There is no second $10.00 redemption regime of the kind the larger 2020 deals carried. The company has 24 months from closing to consummate a business combination; if it does not, the trust is distributed pro rata and the prospectus states the warrants will expire and be worthless.
The stated life is 24 months from the closing of the offering; if no business combination is consummated in that time the trust is distributed pro rata to public shareholders and the document states the warrants will expire worthless. The sponsor has committed to buy 350,000 private units (380,000 on full overallotment) at $10.00 each, so sponsor capital is at risk alongside the public. Deferred underwriting is $0.35 per unit ($3,500,000, up to $4,025,000), released only on completion of a business combination and computed as $0.35 times the public shares sold.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
- What changed vs 2022-04-11trust $104.8M → $12.4M -88%deadline 2022-10-27 → 2023-04-27shares 10.5M → 1.23M -88%
trust account, combination deadline, redeemable shares +23 moved · 2 with no prior record of ours
- Trust account
- $104.8M$12.4M
- Combination deadline
- 2022-10-272023-04-27
- Redeemable shares
- 10.5M1.23M
- Going-concern doubt
- stated · unchanged
- Mandate language
- we are focusing on industries that complement our management… · unchanged
SpacBrain reads this as $92,489,660 left the trust between the two filings.
The clause “Current Assets 132,198 264,156 Cash and marketable securities held in Trust Account 12,353,160 104,842,820 TOTAL ASSETS $ 12,485,358 $ 105,106,976 LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE ”…
SpacBrain reads this as 182 days later than the previous record.
The clause …“to redeem our public shares if we are unable to consummate our initial business combination by April 27, 2023. We may be a passive foreign investment company, or “PFIC,” which could result in adverse U.S. federal income tax”…
SpacBrain reads this as 9,253,065 shares are no longer redeemable.
The clause …“unlimited shares authorized; 2,979,499 issued and outstanding (excluding 1,226,561 and 10,479,626 shares subject to possible redemption) as of December 31, 2022 and 2021, respectively — — Accumulated deficit ( 3,717,596 ) (”…
The clause …“our initial business combination. ● Our management concluded that there is substantial doubt about our ability to continue as a “going concern.” ● Our sponsor controls a substantial interest in us and thus may exert a substantial”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Show the other 10 filings
- What changed vs 2022-08-15trust $105.0M → $105.4M +0%deadline 2022-10-27 → 2023-04-27
trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $105.0M$105.4M
- Combination deadline
- 2022-10-272023-04-27
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 10.5M · unchanged
SpacBrain reads this as $464,320 was added to the trust between the two filings.
The clause “Total Current Assets 97,245 264,156 Marketable securities held in Trust Account 105,419,089 104,842,820 TOTAL ASSETS $ 105,516,334 $ 105,106,976 LIABILITIES AND SHAREHOLDERS’ DEFICIT ”…
SpacBrain reads this as 182 days later than the previous record.
The clause …“by which we must consummate a business combination from October 27, 2022 to April 27, 2023 (the “Extension Proposal”). In connection with the Extension Proposal, shareholders elected to redeem 9,253,065 Ordinary Shares, which”…
The clause …“a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“unlimited shares authorized; 2,979,499 issued and outstanding (excluding 10,479,626 shares subject to possible redemption) as of September 30, 2022 and December 31, 2021 — — Accumulated deficit ( 3,734,485 ) ( 5,489,507”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Eucrates Biomedical Acquisition Corp. called a special meeting in lieu of its 2022 annual general meeting for October 24, 2022, to extend the date by which it must consummate a business combination from October 27, 2022 to April 27, 2023. Based on the current trust balance the Company estimates the per-share pro rata portion at approximately $10.07 at the time of the meeting, against a closing price of $10.03 on October 7, 2022. If no combination closes by the applicable date, the Company will cease operations and within five business days redeem 100% of the outstanding public shares. Why it matters: Four cents in favour of redeeming over selling, with the added certainty the proxy says the market may not provide. Six months of extension is sought with no deposit disclosed in the excerpt, so holders who stay fund the delay uncompensated. The five-business-day redemption window on failure is faster than the ten days most SPACs allow. Eucrates ultimately liquidated, confirming the trust claim was the return.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Eucrates LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/3 · 100.0% of the $10 unit
from 424B4 0001104659-20-118165
Trading & liquidity
Company profile
Directors & officers
- SAXENA PARAGChief Executive Officer
- PAPADOPOULOS STELIOSDirector
- Vergetis EvangelosDirector
- Singhal AmitabhDirector
- Shapiro Nina B.Director
- Sathe ShrikantSenior Vice President
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
4 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Eucrates LLCwith 2 other reporting persons on the same schedule19.5% · SC 13GFeb 12, 2021 stale
- PRICE T ROWE ASSOCIATES INC /MD/5.4% · SC 13GFeb 14, 2022 stale
- Flynn James Ewith 3 other reporting persons on the same schedule0.0% · SC 13G/AFeb 10, 2023 stale
- BlackRock Inc.0.0% · SC 13GNov 9, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
40 full SEC filing texts archived — searchable, never lost.
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail3 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001104659-20-118165 priced 2020-10-26; common ticker EUCR off 8-K 0001104659-23-044086 (2023-04-11); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001104659-23-044086 (2023-04-11) — announced liquidation of the trust account: “…intends to dissolve and liquidate. The redemption of the Public Shares is expected to be completed on April 27, 2023. As of the close of business on April 26, 2023, the Company will stop trading its Public Shares, and each Public Share held at that time will represent the right to receive the redemption amount of appro…”. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
warrantStrike=11.5 from the definitive prospectus (0001104659-20-118165). NOT FILLED: warrantCallPrice — no stated candidate; rightShareRatio — no stated candidate; unitSeparationDays — no stated candidate
sponsor "Eucrates LLC" sourced from prospectus definition (10-K/A) acc 0001104659-21-092689.