Company: MKLY
Filing Date: 2025-06-16
Form Type: DRSLTR
Source: 0001213900-25-054877
Chunk: 3

Company: McKinley Acquisition Corp
Filing Date: 2025-06-16
Form: DRSLTR
Chunk 3
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 advisors or their affiliates, for services rendered to you prior to or in connection with the completion of your       
 initial business combination, as referenced on page 36. In addition, where you discuss the differing interests your executive officers       
 and directors may have in connection with the business combination, please revise to disclose the nominal price paid for the founder shares. 
 See Item 1602(b)(7) of Regulation S-K.                                                                                                       |

RESPONSE: The Company has revised the disclosure
on page 40 of Amendment No.1 to disclose conflicts of interest relating to payments that could be made to its sponsor, officers or directors,
or their affiliates, for services rendered prior to or in connection with the completion of an initial business combination. Also, the
Company has disclosed the nominal price paid for the founder shares on the cover page, and pages 15, 38, 77 and 111 of Amendment No.
1.

| 12. | Please expand the fifth bullet point on page 41 to highlight that you may not need any public shares in addition to the founder 
 shares to approve an initial business combination.                                                                              |

RESPONSE: The Company has expanded the fifth
bullet point on page 42 of Amendment No. 1 to highlight that it may not need any public shares in addition to the founder shares to
approve an initial business combination.

| 13. | Please expand to disclose the impact to you and investors of PIPE issuances, including that the arrangements result in costs particular 
 to the de-SPAC process that would not be anticipated in a traditional IPO.                                                              |

RESPONSE: The Company has revised and expanded
the disclosure on page 60 of Amendment No. 1 to disclose the impact to it and investors of PIPE issuances including costs that would
not be anticipated in a traditional IPO.

June 16, 2025

Page 5

| 14. | We note your disclosure on page 16 that in order to facilitate your initial business combination or for any other reason determined               
 by your sponsor in its sole discretion, your sponsor may surrender or forfeit, transfer or exchange your founder shares, private placement        
 units or any of your other securities, including for no consideration, as well as subject any such securities to earn-outs or other restrictions, 
 or otherwise amend the terms of any such securities or enter into any other arrangements with respect to any such securities. Please add          
 risk factor disclosure about risks that may arise from the sponsor transferring ownership of securities of the SPAC. For example, if