McKinley Acquisition completes $172.3 million IPO with overallotment

McKinley Acquisition Corporation (NASDAQ: MKLYU) closed an additional 2.25 million units on August 19, 2025, through the full exercise of underwriters' over-allotment option in connection with its initial public offering.

The company initially offered 15 million units and added the additional units through the over-allotment option, bringing total gross proceeds to $172.25 million at $10.00 per unit. The units began trading on The Nasdaq Global Market on August 13, 2025.

Each unit consists of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth of one Class A ordinary share upon completion of the company's initial business combination. The Class A ordinary shares and rights will trade separately under the symbols "MKLY" and "MKLYR" respectively once separate trading begins.

The company placed $172.5 million from the offering proceeds and a simultaneous private placement into a trust account, representing $10.00 per unit sold in the public offering.

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.

McKinley Acquisition Corporation is a special purpose acquisition company formed to identify and complete a business combination with operating companies. The registration statement for the securities was declared effective by the Securities and Exchange Commission.

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