Yorkville Acquisition Corp. shares rise 4.81% premarket after announcing a business combination with Trump Media and Crypto.com to form a digital asset treasury company.

Yorkville Acquisition Corp. rose 4.81% in premarket trading, driven by the announcement of a business combination with Trump Media & Technology Group and Crypto.com to establish Trump Media Group CRO Strategy, a digital-asset treasury company focused on acquiring CRO, the native cryptocurrency token of the Cronos ecosystem. The new entity will have majority ownership from the three companies, with expected funding of $1 billion in CRO, $200 million in cash, and $220 million in cash-in mandatory exercise warrants, along with an additional $5 billion equity line.