Company: MCGAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076738
Chunk: 90

Company: Yorkville Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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 Trust Account.

For the period from March 3, 2025 (inception)
through June 30, 2025, net cash used in operating activities was $83,696. Net loss of $92,134, was adjusted by formation, general and
administrative expenses paid by Sponsor under promissory note – related party of $41,195, formation, general and administrative
expenses paid by Sponsor in exchange for issuance of Class B ordinary shares of $12,762, and $8,438 changes in operating assets and liabilities.
Net cash used in investing activities was $173,362,500 related to the funding of the Trust Account. Net cash provided by financing activities
was $174,914,026 related to $171,344,250 of net proceeds from the issuance of ordinary shares, $3,518,250 of proceeds from sale of Private
Placement Units, and $181,750 of capital contributions from the Sponsor, offset by $130,224 payments of deferred offering costs.

As of June 30, 2025, we had marketable securities held in the Trust
Account of $173,362,500 consisting of securities held in a money market fund that invests in U.S. Treasury securities with a maturity
of 185 days or less. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest
earned on the Trust Account (less deferred underwriting fees and income taxes payable), to complete our initial business combination.
To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our initial business combination,
the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses,
make other acquisitions and pursue our growth strategies.

As of June 30, 2025, we had cash and cash equivalents of $1,467,830
held outside the Trust Account. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses,
perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective
target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses,
and structure, negotiate and complete an initial business combination.

20

We may need to raise additional funds in order
to meet the expenditures required for operating our business prior to our initial business combination. We expect to incur significant
costs related to identifying a target business