Company: MCGAU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073705
Chunk: 30

Company: Yorkville Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 incur significant costs related to identifying a target business, undertaking in-depth due diligence and negotiating
an initial business combination. These conditions raise substantial doubt about our ability to continue as a going concern for a period
of time within one year from the date that the financial statements accompanying this Quarterly Report on Form 10-Q are issued.

Contractual Obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities as of March 1, 2025.

The underwriters of the Initial Public Offering are entitled to a deferred
underwriting discount of $0.30 per Unit, or $5,175,000. The deferred fee will become payable to the underwriters from the amounts held
in the Trust Account solely in the event that we complete an initial business combination, subject to the terms of the underwriting agreement.

Critical Accounting Estimates

The preparation of financial statements and related
disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date
of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates.
We have not identified any critical accounting estimates as of March 31, 2025.

Recent Accounting Pronouncements

In November 2023, the FASB issued Accounting
Standard Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”),
which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant
segment expenses. The standard was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal
years beginning after December 15, 2024, with early adoption permitted. We adopted this ASU on March 3, 2025, the date of our
inception. Adoption of the new standard did not have a material impact on our financial statements.

20

The Company’s management does not believe
that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on
the accompanying financial statements.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

Not required for smaller reporting companies.

Item 4. Controls and Procedures 

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are designed
to ensure that