Yorkville Acquisitions shares up over 10% after resuming premarket

Yorkville Acquisitions shares up over 10% after resuming premarket

Yorkville Acquisition Corp. (YORK) saw its shares rise by over 10% in premarket trading today, following the announcement of a significant business combination with Trump Media & Technology Group Corp. (DJT) and Crypto.com. The deal involves the establishment of Trump Media Group CRO Strategy, Inc., a new digital asset treasury company focused on acquiring Cronos (CRO) tokens.

The business combination, valued at $6.42 billion, includes a $1 billion investment in CRO tokens, $200 million in cash, $220 million in mandatory exercise warrants, and a $5 billion equity line of credit from Yorkville affiliate YA II PN, Ltd. This funding will make Trump Media Group CRO Strategy the first and largest publicly traded CRO treasury company in history, with a significant market cap ratio [1].

The new entity, Trump Media Group CRO Strategy, Inc., will be majority-owned by Yorkville, Trump Media, and Crypto.com, with a one-year lock-up period for their founding shareholdings and warrants. The company plans to implement a forward-looking CRO accumulation and staking strategy, including operating a validator node on the Cronos blockchain to support network security and governance [2].

Yorkville Acquisition Corp. will list its Class A ordinary shares on Nasdaq under the ticker symbol "MCGA," with the new symbol transferring to Trump Media Group CRO Strategy upon the closing of the business combination [3].

The deal marks a strategic move by Trump Media and Crypto.com to tap into the expanding Cronos ecosystem, where staking, governance, and institutional integration make the blockchain a strong candidate for powering next-generation financial infrastructure. The acquisition also reflects the growing trend of companies establishing digital asset treasuries to strategically plan for the future [2].

Clear Street is acting as the exclusive capital markets advisor, while DLA Piper LLP and Skadden, Arps, Slate, Meagher & Flom LLP provide legal counsel for the transaction [1].

References:
[1] https://cryptonews.com/news/trump-media-just-backed-a-6-4b-crypto-play-with-crypto-com-heres-why-it-matters/
[2] https://www.investing.com/news/company-news/trump-media-cryptocom-and-yorkville-to-form-digital-asset-treasury-93CH-4210905
[3] https://www.marketscreener.com/news/trump-media-group-cro-strategy-to-acquire-6-42-billion-for-cro-digital-asset-treasury-ce7c50d9db8af020