Bullish indicating open at $55-$60, IPO prices at $37
Yorkville Acquisition Corp. (NASDAQ:YORK) announced Monday the completion of its initial public offering and a concurrent private placement, raising gross proceeds of $176,018,250. The information is based on a statement from the company’s recent SEC filing.
On June 30, the company closed its IPO of 17,250,000 units, which included 2,250,000 units issued through the exercise of the underwriters’ over-allotment option. Each unit consisted of one Class A ordinary share and one-third of one redeemable warrant. The warrants entitle holders to purchase one Class A ordinary share at an exercise price of $11.50 per share. The units were sold at $10.00 each, generating $172,500,000 in gross proceeds.
Simultaneously, Yorkville Acquisition Corp. completed a private sale of 351,825 private placement units to Yorkville Acquisition Sponsor LLC at $10.00 per unit, raising an additional $3,518,250. The private placement units are identical to those sold in the IPO, except as otherwise described in the company’s registration statement.
A total of $173,362,500 from the IPO and private placement proceeds has been deposited into a U.S.-based trust account managed by Continental Stock Transfer & Trust Company.
Yorkville Acquisition Corp.’s Class A ordinary shares, units, and warrants are listed on the Nasdaq Stock Market under the symbols YORK, YORKU, and YORKW, respectively.
The company also reported that an audited balance sheet reflecting the receipt of proceeds as of June 30 has been issued and filed as an exhibit to the Form 8-K.
This summary is based on a press release statement contained in the company’s SEC filing.
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