Company: MKLY
Filing Date: 2025-09-23
Form Type: 10-Q
Source: 0001213900-25-090712
Chunk: 29

Company: McKinley Acquisition Corp
Filing Date: 2025-09-23
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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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”).

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 (Note 4). 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 (see Note 6).

Transaction costs amounted 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.

A total of $150,000,000 from the net proceeds
of the sale of the Units in the Initial Public Offering 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 U.S. government treasury obligations
with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment
Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended
to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed
to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the
Trust Account, we may, at any time (based on our management team’s ongoing assessment of all factors related to our potential status
under the Investment Company Act), instruct the trustee to liquidate the investments