Company: MCGAU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073705
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Company: Yorkville Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
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The Company evaluates its financial instruments
to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815,
“Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument
is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair
value reported in the statement of operations. The classification of derivative instruments, including whether such instruments should
be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the
balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required
within 12 months of the balance sheet date.

Net Loss Per Ordinary Share

Net loss per ordinary share is computed by dividing
net loss by the weighted average number of ordinary shares issued and outstanding during the period, excluding ordinary shares subject
to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 750,000 Class B ordinary shares that were subject
to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 6). At March 31,
2025, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary
shares and then share in the earnings of the Company. As a result, diluted loss per ordinary share is the same as basic loss per ordinary
share for the period presented.

Warrant Instruments

The Company will account for the Public Warrants and Private Placement
Warrants issued in connection with the Initial Public Offering and the private placement in accordance with the guidance contained in
FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and will classify the warrant instruments
under equity treatment at their assigned values. There are no Public or Private Placement Warrants currently outstanding as of March 31,
2025.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
“Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). The
amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided
to the chief operating decision maker (“CODM”), as well