McKinley Acquisition completes $150 million IPO on NASDAQ

McKinley Acquisition Corporation (NASDAQ: MKLYU) completed its initial public offering of 15 million units at $10.00 per unit, raising $150 million in gross proceeds.

The units began trading on the NASDAQ Global Market under the symbol "MKLYU" on August 13. Each unit contains one Class A ordinary share and one right, with each right entitling the holder to receive one-tenth of one Class A ordinary share upon completion of the company's initial business combination.

When the securities begin separate trading, the Class A ordinary shares will trade under the symbol "MKLY" and the rights under "MKLYR."

The company placed $150 million from the offering proceeds and a simultaneous private placement into trust. McKinley Acquisition will file an audited balance sheet reflecting receipt of these proceeds with the Securities and Exchange Commission on Form 8-K.

Clear Street LLC served as sole book-running manager for the offering, while Brookline Capital Markets, a division of Arcadia Securities LLC, acted as co-manager. The underwriters received a 45-day option to purchase up to 2.25 million additional units at the offering price to cover over-allotments.

The company is based in Needham, Massachusetts. The information is based on a press release statement from McKinley Acquisition Corporation.

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