Company: MKLY
Filing Date: 2025-07-25
Form Type: S-1/A
Source: 0001213900-25-067524
Chunk: 334

Company: McKinley Acquisition Corp
Filing Date: 2025-07-25
Form: S-1/A
Chunk 334
---
 of the Independent Auditor’s Report The Company has updated the terms of the Proposed Public Offering subsequent to the date of the independent auditor’s report. The Sponsor, Clear Street, and Brookline have committed to purchase an aggregate of 465,000 Private Placement Units, in a private placement at $10.00 per unit for a total purchase price of $4,650,000. Of those 465,000 Private Placement Units, our Sponsor has agreed to purchase 420,000 private placement units, Clear Street has agreed to purchase 25,000 private placement units, and Brookline has agreed to purchase 20,000 private placement units. A total of 50,000 of those Private Placement Units will be purchased by a non -interestbearing, unsecured promissory note which will be issued by the sponsor to the Company simultaneously with the closing of the Proposed Public Offering in the principal amount of $500,000 (the “Private Placement Units Note”), which the Company may draw down at any time and from time to time in its sole discretion, pursuant to the terms of the Private Placement Units Note. At the closing of an initial Business Combination, the Company will cancel the number of Private Placement Units equal to amounts not drawn under the Private Placement Units Note. Select institutional investors (none of which are affiliated with any member of Company management, the Sponsor or any other investor) (the “non -managingsponsor investors”), have expressed an interest to indirectly purchase, through the purchase of non -managingsponsor membership interests, an aggregate of 327,500 of the 420,000 Private Placement Units being purchased by the Sponsor at a price of $10.00 per unit ($3,275,000 in the aggregate) in a private placement that will close simultaneously with the closing of the Proposed Public Offering. Subject to each non -managingsponsor investor purchasing, through the Sponsor, the Private Placement Units allocated to it in connection with the closing of the Proposed Public Offering, the Sponsor will issue membership interests at a nominal purchase price ($0.004) to the non -managingsponsor investors reflecting interests in an aggregate of 2,620,000 held by the Sponsor. The fact that the Sponsor is providing the non -managingmembers with founder shares for their participation in the transaction is considered an inducement and falls under SAB Topic 5A. The Underwriter will be entitled to a cash underwriting discount of $0.10 per Unit, or $0.087 per Unit if the overallot