SPAC Texas Ventures III acquires new sponsor Yorkville in $7.4M control change; new board and management appointed

Texas Ventures Acquisition III Corp

Yorkville Acquisition Sponsor II purchased 7.5M Class B shares and 4.7M private warrants from prior sponsor for $7.4M.
All prior directors/officers resigned; new board includes Mark Angelo (Chairman), Devin Nunes, Scott Glabe, Lawrence Glick, Alan Garten, Omar Hasan.
Kevin McGurn named CEO; Troy Rillo named CFO; new sponsor assumes control and intends to operate as 'Yorkville Acquisition II'.
Prior sponsor's insider letter and administrative services agreement terminated upon closing.
Company holds at least $875K cash outside trust; underwriting fee waiver condition not satisfied but closing occurred anyway.

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