Company: MKLY
Filing Date: 2025-06-30
Form Type: S-1
Source: 0001213900-25-059789
Chunk: 244

Company: McKinley Acquisition Corp
Filing Date: 2025-06-30
Form: S-1
Chunk 244
---
 with the Companies Law. Classified Board of Directors Our board of directors will initially be divided into three classes, Class I, Class II and Class III, with members of each class serving staggered three year terms. Our amended and restated memorandum and articles of association will provide that the authorized number of directors may be changed only by resolution of the board of directors. Subject to 169 Table of Contents the terms of any preference shares, any or all of the directors may be removed from office at any time by an ordinary resolution, which requires the affirmative vote of at least a majority of the votes cast by holders of ordinary shares as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company. Prior to the consummation of an initial business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment and removal of directors. Our board of directors may, by a vote of a majority of our directors then in office, appoint any person to be a director, either to fill a vacancy or as an additional director. Securities Eligible for Future Sale Immediately after this offering we will have 21,229,655 (or 24,366,853 if the underwriter’s over -allotmentoption is exercised in full) ordinary shares outstanding. Of these shares, the Class A ordinary shares sold in this offering (15,000,000 Class A ordinary shares if the underwriter’s over -allotmentoption is not exercised and 17,250,000 shares if the underwriter’s over -allotmentoption is exercised in full) will be freely tradable without restriction or further registration under the Securities Act, except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the outstanding founder shares (5,689,655 founder shares if the underwriter’s over -allotmentoption is not exercised and 6,543,103 founder shares if the underwriter’s over -allotmentoption is exercised in full) and all of the outstanding ordinary shares underlying the private placement units (465,000 shares, or 487,500 shares if the underwriter’s over -allotmentoption is exercised in full) will be restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering. Rule 144 Pursuant to Rule 144, a person who has beneficially owned restricted shares or rights for at