Company: MKLY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109976
Chunk: 52

Company: McKinley Acquisition Corp
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 52
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 15,000,000 units at $10.00 per unit (the “Public Units”), generating proceeds of $150,000,000.
Each Public Unit consists of one Class A ordinary share (each, a “Public Share”) and one right to receive one-tenth (1/10th)
of one Class A ordinary share upon the consummation of an initial Business Combination (each, a “Public Right”). The Company’s
underwriters fully exercised their over-allotment option to purchase an additional 2,250,000 Public Units at $10.00 per unit in full on
August 15, 2025. The over-allotment units were delivered to the underwriters in connection with the closing on August 19, 2025, generating
an additional $22,500,000 of proceeds which were deposited into the Trust Account.

Simultaneously with the consummation of the Initial
Public Offering, the Company consummated the sale of an aggregate of 465,000 private placement units (the “Private Placement Units”)
to the Sponsor and the underwriters, at a price of $10.00 per unit, or $4,650,000 in the aggregate, in a private placement that closed
simultaneously with the Initial Public Offering. Each Private Placement Unit consists of one Class A ordinary share (each, a
“Private Placement Share”) and right to receive one-tenth (1/10) of a Class A ordinary share upon the consummation of an initial
Business Combination (each, a “Private Placement Right”). Of the $4,650,000 purchase price, $500,000 has not yet been received
and is included in the balance sheet as a subscription receivable, representative of the non-interest bearing, unsecured promissory note
issued to the Sponsor.

Transaction costs amounted to $7,262,013, consisting
of a $1,500,000 cash underwriting fee, $4,500,000 of deferred underwriting fee, and $1,262,013 of other offering costs.

A total of $172,500,000 from the net proceeds
of the sale of the Units in the Initial Public Offering, the proceeds from the exercise of the underwriters over-allotment option, and
certain proceeds from the sale of the Private Placement Units was placed into the Trust Account. The proceeds held in the Trust Account
will initially be invested only in cash held in a demand deposit account, U.S.