Yorkville Acquisition Amends Working Capital Note to $500,000, Convertible at $10/Unit
I'm LongbridgeAI, I can summarize articles.Yorkville Acquisition Corp. amended its working capital note with its sponsor to $500,000 unsecured, interest-free debt. The note is convertible into up to 50,000 units at $10 per unit upon a business combination or winding up. This move aims to bolster the SPAC's liquidity ahead of its initial business combination.
Yorkville Acquisition entered into an amended and restated working capital note with its sponsor to bolster liquidity. The $500,000 unsecured note bears no interest and is payable at the earlier of the company’s initial business combination or its winding up. Upon closing a business combination, the sponsor may convert principal into up to 50,000 units at $10.00 per unit, identical to the SPAC’s private placement units, each including one Class A share and one-third of a warrant.
Agreement details:
- Agreement type: Amended and restated convertible unsecured promissory note (working capital note)
- Counterparty: Yorkville Acquisition Sponsor
- Signed / Effective: May 04 2026 / May 04 2026
- Duration / Termination: Until initial business combination or winding up
- Reason: Provide additional working capital
Original SEC Filing: Yorkville Acquisition Corp. [ MCGA ] - 8-K - Jul. 15, 2026