Yorkville Acquisition Corp (NASDAQ: MCGA) is a blank-check special purpose acquisition company (SPAC) incorporated to identify and complete a business combination with a target company. It generates no operating revenue. Instead, it holds IPO proceeds in a trust account, with $173,362,500 ($10.05 per unit) deposited following the closing of its initial public offering on June 30, 2025, managed by Continental Stock Transfer and Trust Company as trustee. Yorkville entered into a Business Combination Agreement dated August 25, 2025, targeting Cronos-related digital assets (CRO) in a transaction involving Crypto.com and TMTG. Under the proposed deal, Crypto.com Sub would contribute Cronos Assets to the combined company, which would then operate a Cronos proof-of-stake validator node and staking infrastructure, with Crypto.com licensing associated intellectual property and operational technology at closing. The combination had not closed as of the 10-K filing date of March 31, 2026. If no business combination is completed within 24 months of the IPO closing, public shares are subject to redemption.

Revenue model

No operating revenue as of December 31, 2025. Income is limited to interest and investment income earned on funds held in the Trust Account. Sponsor loans of up to $1,500,000 are available for working capital, convertible into post-combination units at $10.00 per unit.

Products and services

Trust account holding IPO proceeds pending a business combination. Proposed post-combination operations center on acquiring CRO (Cronos) digital assets, operating a Cronos proof-of-stake validator node, and building staking infrastructure for delegation of CRO holdings by the combined company and third parties.

Customers and end markets

No commercial customers as of December 31, 2025. The proposed combined company's end market is the digital asset and blockchain sector, specifically targeting CRO token holders, institutional capital markets participants, and third-party staking delegators.

Value-chain role

SPAC vehicle serving as the acquisition entity. Post-combination, the company is structured to act as a CRO digital asset accumulator, validator node operator, and staking infrastructure provider, with Crypto.com contributing Cronos Assets and licensing operational technology and intellectual property.

Source: SEC 10-K, filed 2026-03-31

Industry: Finance Services