Company: MKLY
Filing Date: 2025-07-25
Form Type: S-1/A
Source: 0001213900-25-067524
Chunk: 148

Company: McKinley Acquisition Corp
Filing Date: 2025-07-25
Form: S-1/A
Chunk 148
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 draw down at any time and from time to time in our sole discretion. At the closing of our initial business combination, we will cancel the number of private placement units proportional to the amount not drawn under the Private Placement Units Note and the Private Placement Units Note will be canceled.

99 Additional potential sources of dilution include the following: •We may issue a substantial number of additional Class A ordinary shares or preference shares to complete our initial business combination or under an employee incentive plan after completion of our initial business combination. •The founder shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination or earlier at the option of the holder on a one -for-onebasis, subject to adjustment for share sub -divisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares, or any other equity -linkedsecurities, are issued or deemed issued in excess of the amounts sold in this offering and related to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such 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, 20% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued pursuant to the underwriters’ over -allotmentoption and excluding the Class A ordinary shares underlying the private placement units issued to the sponsor), plus (ii) all Class A ordinary shares and equity -linkedsecurities issued or deemed issued, in connection with the closing of the initial business combination (excluding any shares or equity -linkedsecurities issued, or to be issued, to any seller in the initial business combination and any private placement -equivalentrights issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with charter amendments prior to an initial business combination or an initial business combination; provided that such conversion of founder shares will never occur on a less than one -for-onebasis. •We have not selected any specific business combination target but intend to target