Company: MKLY
Filing Date: 2025-07-25
Form Type: S-1/A
Source: 0001213900-25-067524
Chunk: 242

Company: McKinley Acquisition Corp
Filing Date: 2025-07-25
Form: S-1/A
Chunk 242
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 sponsor, the private placement units allocated to it in connection with the closing of this 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 founder shares (or up to 5,620,000 founder shares in certain circumstances) held by the sponsor. The private placement units held by the sponsor, including the private placement units represented by the non -managingsponsor investors’ membership interests, are subject to a lock -upas described in ‘‘Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Units’’; however, the non -managingsponsor investors will not be subject to transfer restrictions or a lock -upagreement on any Class A ordinary shares that they may purchase in this offering. In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required on a non -interestbasis. If we complete an initial business combination, we would repay such loaned amounts. In the event that the initial business combination does not close, we may use amounts held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into private placement units of the post business combination entity at a price of $10.00 per unit at the option of the lender. Such units would be identical to the private placement units. Except as set forth above, the terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. Prior to the completion of our initial business combination, we do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account. We have until the date that is 18 months from the closing of this offering or 24 months if we have executed a definitive agreement for an initial business combination within 18 months from the closing of this offering) or until such earlier liquidation date as our board of directors may approve, to consummate our initial business combination. If we anticipate that we may be unable to consummate our initial business combination within