Yorkville International Capital (YICC) Raises $230M in SPAC IPO

This summary was generated by AI from the company's SEC filing and may contain errors — always verify against the primary source on SEC.gov.

The short version

Yorkville International Capital Corp. (Nasdaq: YICC) completed its initial public offering on June 17, 2026, raising $230 million by selling 23,000,000 units at $10.00 each — including the underwriter's full over-allotment option of 3,000,000 units. The entire $230 million was placed into a trust account held by Continental Stock Transfer & Trust Company while the company searches for a business to acquire within 24 months. Four new directors were also appointed to the board in connection with the IPO.

Yorkville International Capital Corp. (Nasdaq: YICC) raised $230 million when it closed its initial public offering (IPO — the first time a company sells shares to the public) on June 17, 2026, according to an 8-K filing (a form companies use to report major news) filed with the SEC on June 18, 2026.

What was sold

The company sold 23,000,000 units at $10.00 per unit. Each unit contains one Class A ordinary share and one-third of a redeemable warrant (a certificate that lets the holder buy one more share later). Once separated, whole warrants can be exercised — meaning used to buy one Class A ordinary share — at $11.50 per share. The units include 3,000,000 extra units from the underwriter's over-allotment option (an optional add-on purchase the underwriter can make to cover strong demand), which was exercised in full.

The units trade on Nasdaq under the ticker YICCU. Once the units split apart, the Class A ordinary shares trade as YICC and the warrants as YICCW.

Private placement warrants

At the same time as the IPO closed, the company also privately sold 6,300,000 additional warrants at $1.00 each to two parties: the company's sponsor purchased 4,000,000 warrants, and CCM (Cohen & Company Capital Markets, the underwriter's representative) purchased 2,300,000 warrants. These private warrants work the same way as those in the public units but were sold without underwriting fees, under an exemption from normal securities registration rules.

The trust account

The full $230 million — including $9,200,000 set aside as a deferred fee payable to the underwriter only if a deal is completed — was placed into a trust account managed by Continental Stock Transfer & Trust Company. The filing says those funds will stay locked in the trust and be invested only in short-term U.S. government securities or qualifying money market funds until the earliest of:

The company completing an acquisition (called an "initial business combination"),
The company being unable to complete a deal within 24 months of the IPO closing, or
Shareholders voting to change certain terms of the company's governing documents.

The company may withdraw up to $400,000 per year in interest from the trust to cover operating costs, and can also withdraw interest to pay taxes.

New board members

On June 16, 2026, four new directors were appointed to the board: Kevin McGurn, Owen A. May, Mark Hiltwein, and John-Paul Colaco. Together with existing director Mark Angelo, they make up the full board. May, Hiltwein, and Colaco were named to both the Audit Committee and the Compensation Committee, with Hiltwein chairing the Audit Committee and Colaco chairing the Compensation Committee.

The company also entered into indemnity agreements (contracts promising to cover legal costs) with all its directors and officers on June 15, 2026, and filed updated governing documents (its amended and restated memorandum and articles of association) with the Cayman Islands Registrar of Companies, effective June 15, 2026.

Key facts

YICC IPO closed June 17, 2026 on Nasdaq

23,000,000 units sold at $10.00 per unit, including full 3,000,000-unit over-allotment

Gross proceeds: $230,000,000

Each unit = one Class A ordinary share + one-third of a redeemable warrant; whole warrants exercisable at $11.50/share

6,300,000 private placement warrants sold at $1.00 each: 4,000,000 to the Sponsor, 2,300,000 to CCM

$230,000,000 placed in trust with Continental Stock Transfer & Trust Company

$9,200,000 deferred underwriter discount included in trust

24-month window to complete a business combination

Up to $400,000/year in trust interest available for working capital

Four new directors appointed June 16, 2026: Kevin McGurn, Owen A. May, Mark Hiltwein, John-Paul Colaco

Ticker symbols: YICCU (units), YICC (shares), YICCW (warrants)

Why it matters

YICC is a SPAC — a "blank check company" that raises money through an IPO solely to find and merge with a private business, taking it public in the process. The $230 million raised is now locked in trust, and shareholders who don't like whatever acquisition target management eventually chooses can redeem their shares for roughly $10 each plus interest. If no deal is struck within 24 months of the June 17, 2026 closing — meaning by approximately June 17, 2028 — the trust is liquidated and the money is returned to public shareholders. The $9.2 million deferred underwriter fee only gets paid if a deal closes, which aligns the underwriter's incentive with completing a transaction. Investors holding YICC shares or units are essentially betting on management's ability to find and execute a deal at a price above the $10 redemption floor.

Frequently asked

How much money did Yorkville International Capital raise in its IPO?

The company raised $230 million in gross proceeds by selling 23,000,000 units at $10.00 each, including the underwriter's full over-allotment option of 3,000,000 units.

What happens to the $230 million raised?

The full $230 million was placed into a trust account managed by Continental Stock Transfer & Trust Company and invested in short-term U.S. government securities or qualifying money market funds. It stays there until the company completes an acquisition, the 24-month deadline passes, or shareholders vote to change certain terms.

What is in each YICC unit?

Each unit contains one Class A ordinary share and one-third of a redeemable warrant. One whole warrant entitles the holder to buy one Class A ordinary share at $11.50 per share.

What happens if YICC doesn't find a company to acquire within 24 months?

If the company cannot complete an acquisition within 24 months of the June 17, 2026 IPO closing, the trust account is liquidated and the funds — including any interest earned, net of taxes — are distributed back to public shareholders.

What the filing reported

1.01 Entry into a Material Agreement

3.02 Other reported item

5.02 Departure/Election of Directors or Officers

5.03 Amendments to Articles / Bylaws (incl. name change)

8.01 Other Events

9.01 Financial Statements & Exhibits