Company: MCGAU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073705
Chunk: 7

Company: Yorkville Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 a third party for services rendered or products sold to the Company, or a prospective target
business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination
agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.05 per Public Share and (ii) the actual
amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.05 per share
due to reductions in the value of the trust assets, less taxes payable (other than excise or similar taxes), provided that such liability
will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies
held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity
of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933,
as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations,
nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations, and the Company
believes that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would
be able to satisfy those obligations.

Liquidity and Capital Resources

As of March 31, 2025, the Company had no cash and a working capital
deficit of $147,800. The Company’s liquidity needs prior to the consummation of the Initial Public Offering were satisfied through
receipt of $25,000 from the Sponsor in exchange for the issuance of Founder Shares, and up to $300,000 under the promissory note (as defined
in Note 6). On July 2, 2025, the promissory note was repaid in full. In connection with the Company’s assessment of going concern
considerations in accordance with FASBASC Topic 205-40, “Presentation of Financial Statements — Going Concern”,
subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied through the net proceeds
from the consummation of the Initial Public Offering and the sale of Private Placement Units held outside of the Trust Account. Based
on the foregoing, Management believes that