Eugene Special Purpose Acquisition 12유진스팩12호

Eugene SPAC 12 is a blank-cheque shell with no revenue and no merger target yet, so its shares trade on little beyond its cash.

Eugene Special Purpose Acquisition 12 is a KOSDAQ-listed SPAC that listed in December 2025 and has not yet chosen a company to merge with. Its filings show no revenue, a small operating loss of about ₩26M for the year and cash of about ₩1.8B as of H1 2026. The shares closed at ₩1,999 on 23 October 2026, roughly ₩11.3B in market value.

What stands out

• Revenue is zero and the reported loss is small, consistent with a shell company that has no operating business.
• Price-to-book is about 1.0, and the company reports no borrowings, so the balance sheet is mostly cash.
• The share price is about 48% above its 52-week low of ₩1,951 and about 48% below its 52-week high of ₩3,850, with a 1-month return of 0.5%.
• Foreign ownership fell from 0.2% to 0% over the past 60 days, and 20-day flows show net retail selling of about ₩42B against net institutional buying of about ₩43B.
• Filings in 2026 included the annual report, the AGM results and several 5%+ holding reports, but the data contains no news headlines.

What to watch

• Any announcement of a named merger target, which the data says has not yet been selected and would be the main driver of the business.
• The half-year report for June 2026 has been filed, so next checks are the Q3 report and any shareholder meeting notices.
• Whether the company's cash is used or returned, since the data does not describe any dividend or capital plan and the dividend yield is 0%.