Financial Performance - As of September 30, 2025, the company reported a net loss of $395,372 for the three months ended September 30, 2025, primarily due to formation and administrative expenses[129]. - The company had cash and cash equivalents of $290,238 outside the Trust Account and a working capital deficit of $936,432 as of September 30, 2025[131]. - The company has not commenced any operations and will not generate operating revenues until after completing an initial business combination[128]. - The company may need to raise additional funds to meet operating expenditures prior to the initial business combination, raising concerns about its ability to continue as a going concern[139]. Initial Public Offering - The company completed its Initial Public Offering on June 30, 2025, raising gross proceeds of $172.5 million from the sale of 17,250,000 Units at $10.00 per Unit[117]. - The company incurred offering costs totaling $9,424,463, which included $1,155,750 in cash underwriting fees and $5,175,000 in deferred underwriting fees[118]. - The underwriters of the Initial Public Offering are entitled to a deferred underwriting discount of $5,175,000, which will be payable only upon completion of an initial business combination[142]. Trust Account and Business Combination - The company placed $173,362,500 in a Trust Account, which will be invested in U.S. government securities until the completion of an initial business combination[119]. - The company executed a Business Combination Agreement on August 25, 2025, with Crypto.com and Trump Media & Technology Group, involving the contribution of significant assets[120]. - The company plans to use funds held outside the Trust Account for identifying and evaluating target businesses and related due diligence[138]. Regulatory and Accounting Matters - The Company has not identified any critical accounting estimates as of September 30, 2025, indicating a stable financial reporting environment[143]. - The Company adopted ASU 2023-07 on March 3, 2025, which did not have a material impact on its financial statements[144]. - ASU 2023-09, effective for fiscal years beginning after December 15, 2024, requires additional disclosures related to income tax rate reconciliations and income taxes paid[145]. - The Company is currently assessing the potential impact of ASU 2023-09 on its financial position and results of operations[146]. - Management believes that no other recently issued accounting pronouncements would materially affect the financial statements[147]. - Quantitative and qualitative disclosures about market risk are not required for smaller reporting companies[148]. Future Expectations - The company expects to incur increased expenses related to being a public company, including legal and compliance costs[128].
Yorkville Acquisition Corp-A(YORK) - 2025 Q3 - Quarterly Report