Trump Media & Technology Group Announces CRO Strategy: Plans to Raise $6.42 Billion for CRO Treasury

BlockBeats News, August 26th, according to globenewswire report, Yorkville Acquisition Corp. (NASDAQ: YORK), Trump Media & Technology Group, and Crypto.com today announced that the three parties have signed a definitive agreement to merge and establish Trump Media Group CRO Strategy, Inc., a digital asset treasury company focused on acquiring the Cronos ecosystem native cryptocurrency (CRO). Yorkville Acquisition Corp. is a special purpose acquisition company (SPAC) sponsored by Yorkville Acquisition Sponsor LLC.

Following the completion of the business combination, Trump Media Group CRO Strategy will be jointly held by Yorkville, Trump Media & Technology Group, and Crypto.com as founding partners. The expected composition of the digital asset treasury includes: $1 billion in CRO, $200 million in cash, $220 million in cash exerciseable non-redeemable warrants, and a $5 billion equity line of credit provided by Yorkville affiliate YA II PN, Ltd. This structure will make it the first and largest publicly traded CRO treasury company.