IPO and Offering Details - The company completed its Initial Public Offering on June 30, 2025, raising gross proceeds of $172,500,000 from the sale of 17,250,000 Units at $10.00 per Unit[97]. - The company incurred offering costs totaling $9,424,463, which included a cash underwriting fee of $1,155,750 and a deferred underwriting fee of $5,175,000[98]. Financial Position - As of June 30, 2025, the company had $173,362,500 in marketable securities held in a Trust Account, consisting of U.S. Treasury securities with a maturity of 185 days or less[105]. - The company had cash and cash equivalents of $1,467,830 held outside the Trust Account as of June 30, 2025, with a working capital deficit of $815,154[102]. - The company does not have any long-term debt or capital lease obligations as of June 30, 2025, and has a deferred underwriting discount of $5,175,000 payable upon completion of an initial business combination[109]. Operating Performance - For the three months ended June 30, 2025, the company reported a net loss of $61,710, primarily due to formation and administrative expenses of $63,574, offset by interest income of $1,864[101]. - Net cash used in operating activities from inception through June 30, 2025, was $83,696, with a total net loss of $92,134[104]. Future Funding and Concerns - The company may need to raise additional funds to meet operating expenditures prior to completing an initial business combination, raising concerns about its ability to continue as a going concern[107]. - The company intends to use funds held outside the Trust Account primarily for identifying and evaluating target businesses and conducting due diligence[106]. Accounting Estimates - The company has not identified any critical accounting estimates as of June 30, 2025, and does not expect recently issued accounting pronouncements to materially affect its financial statements[110][113].
Yorkville Acquisition Corp Unit(YORKU) - 2025 Q2 - Quarterly Report