Company: MKLY
Filing Date: 2025-09-23
Form Type: 10-Q
Source: 0001213900-25-090712
Chunk: 22

Company: McKinley Acquisition Corp
Filing Date: 2025-09-23
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 Company is authorized to issue a total of 239,000,000 Class A ordinary shares at par value of $0.0001 each. At June 30, 2025, there were no shares of Class A ordinary shares issued or outstanding.   Class B Ordinary Shares — The Company is authorized to issue a total of 10,000,000 Class B ordinary shares at par value of $0.0001 each. On April 9, 2025, the Company issued 6,543,103 Class B ordinary shares to the Sponsor for $25,000, or approximately $0.004 per share. The founder shares include an aggregate of up to 853,448 shares subject to complete or partial forfeiture if the over-allotment option is not exercised by the underwriters in full or in part, so that the initial shareholders will collectively own 20% of the Company’s issued and outstanding ordinary shares after the Initial Proposed Offering. As of June 30, 2025, there were 6,543,103 Class B ordinary shares issued and outstanding, including up to 853,448 Class B ordinary shares subject to forfeiture if the underwriters’ over-allotment option is not exercised in part or in full.   The Founder Shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the option of the holder, on a one-for-one basis, subject to adjustment. In the case that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts issued in the Initial Public Offering and related to the closing of a Business Combination, the ratio at which the Class B ordinary shares will convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of all ordinary shares issued and outstanding upon the completion of the Initial Public Offering plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with a Business Combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in a Business Combination.