Yorkville Acquisition Corp. 8-K

What Happened

• Yorkville Acquisition Corp. announced it amended and restated its prior working capital note with Yorkville Acquisition Sponsor, LLC. The company originally issued a $250,000 note on February 11, 2026; the sponsor advanced an additional $250,000 on May 4, 2026 and the parties replaced the prior note with a single Amended and Restated Working Capital Note for a principal amount of $500,000.
• The Amended and Restated Working Capital Note is unsecured, does not accrue interest, and is payable on the earlier of the closing of the company’s initial business combination or the effective date of winding up the company. The sponsor may elect to convert all or part of the principal at consummation of an initial business combination.

Key Details

• Principal amount: $500,000 (combined advances of $250,000 on Feb 11, 2026 and $250,000 on May 4, 2026).
• Interest: none — the principal does not accrue interest.
• Repayment/Conversion: payable at initial business combination or winding up; convertible at sponsor’s election into units at $10.00 per unit (rounded down) identical to private placement units from the IPO.
• Filing: Amended and Restated Working Capital Note filed as Exhibit 10.1 to the Form 8-K (filed July 15, 2026).

Why It Matters

• This creates a $500K short-term obligation (and possible equity issuance) that preserves the company’s working capital before it completes an initial business combination. For investors, the note means the sponsor provided funding to keep operations going but could convert that debt into units at $10.00 per unit upon a business combination, which would dilute existing shareholders if conversion occurs. The note’s no-interest feature limits cash cost now but does not remove repayment or conversion risk tied to the company’s SPAC transaction timeline.