Quarterly ResultMay 15, 2026, 04:19 PM
MCGA Reports Q1 Net Income $943K; Details Crypto.com, TMTG Deal
AI Summary
Yorkville Acquisition Corp. (MCGA) reported a net income of $943,355 for the three months ended March 31, 2026, a significant improvement from a net loss in the prior year period. The company's investments in its Trust Account grew to $177.9 million. The filing also detailed the terms of its previously announced Business Combination Agreement with Crypto.com and Trump Media & Technology Group Corp., involving asset contributions in exchange for shares and warrants. Despite the net income, the company faces a working capital deficit and a going concern warning, with management relying on the Business Combination to address liquidity needs.
Key Highlights
- Reported net income of $943,355 for Q1 2026, compared to a net loss of $(30,424) in Q1 2025.
- Investments held in Trust Account increased to $177,932,677 as of March 31, 2026.
- Cash balance decreased to $60,261 as of March 31, 2026, from $212,099 at December 31, 2025.
- Working capital deficit of $2,258,970 as of March 31, 2026.
- Accrued expenses increased to $2,249,022 from $1,826,861.
- Company issued a $250,000 promissory note to a related party.
- Business Combination Agreement with Crypto.com and Trump Media & Technology Group Corp. detailed.
- Company faces a going concern warning due to liquidity concerns.
Price Impact
More from MCGA