Eureka Acquisition Corp. Rights represent a type of derivative security associated with the acquisition of shares in the corresponding special purpose acquisition company (SPAC). The primary function of these rights is to give holders an entitlement to acquire a fraction of a share of the SPAC's common stock post-merger. SPACs like Eureka Acquisition Corp. are formed to raise capital through an IPO for the purpose of acquiring an operational company. Rights are an important feature as they provide additional incentives for investors by potentially increasing their equity stake upon the successful completion of an acquisition. In the broader financial market, SPAC rights are a tool for investors who are interested in the speculative growth opportunities associated with private companies becoming publicly traded entities through mergers.