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

Company: McKinley Acquisition Corp
Filing Date: 2025-09-23
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 — Subsequent Events The Company evaluated subsequent events and transactions that occurred after June 30, 2025, the balance sheet date, up to the date the financial statements were available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustments or disclosure in the financial statements, other than as disclosed below.  On August 13, 2025, the Company sold 15,000,000 Public Units at a purchase price of $10.00 per Public Unit, generating gross proceeds of $150,000,000. 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.   Simultaneously with the consummation of the Initial Public Offering, the Company consummated the sale of an aggregate of 465,000 Private Placement Units to the Sponsor and the underwriters, at a price of $10.00 per Private Placement Unit, or $4,650,000 in the aggregate   In connection with the Sponsor’s purchase of Private Placement Units in the private placement, a total of 50,000 Private Placement Units were purchased by a non-interest bearing, unsecured promissory note that was issued to the Sponsor simultaneously with the closing of the Initial Public Offering in the principal amount of $500,000. No amounts have been borrowed under the Private Placement Units Note. As such, the Company has recorded a share receivable on the balance sheet as of August 13, 2025, the date the Company consummated the Initial Public Offering, related to the 50,000 Private Placement Units.   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, generating proceeds of $22,500,000. The Units were delivered to Clear Street in connection with the closing on August 19, 2025.  14  

Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations

Unless otherwise stated or the context otherwise
requires, references in this quarterly report to (i) the “Company,” “us,” or “we” are to McKinley
Acquisition Corporation, a Cayman Islands exempted company; (ii) “founder shares” are to shares of our Class B ordinary