Company: MKLY
Filing Date: 2025-09-23
Form Type: 10-Q
Source: 0001213900-25-090712
Chunk: 42

Company: McKinley Acquisition Corp
Filing Date: 2025-09-23
Form: 10-Q
Item: Part II, Item 2
Chunk 42
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On August 13, 2025, we consummated our Initial
Public Offering of 15,000,000 Units at $10.00 per Unit, generating gross proceeds to the Company of $150,000,000. Clear Street and Brookline
acted as the underwriters. The securities sold in the Initial Public Offering were registered under the Securities Act on registration
statement on Form S-1 (No. 333-288439). The SEC declared the registration statement effective on August 11, 2025.

Simultaneously with the consummation of the Initial
Public Offering, on August 13, 2025, we consummated the private sale of an aggregate of 465,000 Private Placement Units to the Sponsor
and the underwriters at a purchase price of $10.00 per unit, generating gross proceeds of $4,650,000. The Private Placement Units are
identical to the Units sold in the Initial Public Offering, except as otherwise disclosed in the Registration Statement. No underwriting
discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption
from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

We incurred transaction costs amounting to $7,262,013,
consisting of $1,500,000 cash underwriting fee, $4,500,000 of deferred underwriting fee, and $1,262,013 of other offering costs.

Following the closing of the Initial Public Offering,
of the net proceeds received from the consummation of the Initial Public Offering and simultaneous Private Placement, $150,000,000 ($10.00
per unit sold in the Initial Public Offering) was placed in the Trust Account.

On August 15, 2025, Clear Street formally notified
the Company that they will exercise their over-allotment option to the full extent of 2,250,000 Units at $10.00 per Unit, generating additional
proceeds to the Company of $22,500,000. The Units were delivered to Clear Street in connection with the closing on August 19, 2025. The
$22,500,000 of proceeds was placed in the Trust Account.

There has been no material change in the planned
use of proceeds from the Initial Public Offering and Private Placement as is described in the Company’s final prospectus for its
Initial Public Offering 

Purchases of