McKinley Acquisition Corp Announces Pricing of $150 Million Initial Public Offering

Rhea-AI Summary

McKinley Acquisition Corporation (NASDAQ:MKLY) has announced the pricing of its initial public offering (IPO) of 15,000,000 units at $10.00 per unit, totaling $150 million. Each unit comprises one Class A ordinary share and one right, with each right convertible to one-tenth of a Class A ordinary share upon completing an initial business combination.

The units will trade on the Nasdaq Global Market under "MKLYU" starting August 12, 2025. The Class A ordinary shares and rights will later trade separately under "MKLY" and "MKLYR" respectively. Clear Street LLC serves as the sole book-runner, with Brookline Capital Markets as co-manager. Underwriters have a 45-day option to purchase up to 2,250,000 additional units to cover over-allotments.

Positive

• IPO raises substantial capital of $150 million
• Additional potential capital of $22.5 million through over-allotment option
• Listing on major exchange (Nasdaq Global Market)
• Flexible business combination strategy across any industry

Negative

• No specific target business or industry identified yet
• SPAC structure carries inherent risks of not finding suitable acquisition target
• Potential dilution from rights conversion post-business combination

Insights

SPAC Analyst

McKinley Acquisition Corp raising $150M in IPO to pursue future business combination with structure typical of SPACs in current market.

McKinley Acquisition Corporation has priced its $150 million initial public offering, selling 15 million units at $10.00 each. The standard SPAC unit structure includes one Class A ordinary share plus one right that converts to one-tenth of a share upon completing a business combination. This pricing represents typical SPAC parameters in the current market environment.

Units will trade on Nasdaq under ticker MKLYU starting August 12, with shares and rights eventually separating to trade as MKLY and MKLYR, respectively. Clear Street is leading the offering as sole book-runner, with Brookline Capital Markets as co-manager.

The company has included a standard 45-day over-allotment option allowing underwriters to purchase up to 2.25 million additional units, potentially increasing total proceeds by $22.5 million. McKinley Acquisition Corp is a blank-check company that hasn't identified a specific target sector, giving management broad flexibility to pursue opportunities across various industries.

This SPAC comes to market as investors have become increasingly selective about blank-check companies, requiring stronger sponsor teams and compelling acquisition strategies. Without a specified industry focus, McKinley will face the challenge of differentiating itself in a competitive SPAC landscape where investors increasingly favor experienced management teams with demonstrated sector expertise.

NEEDHAM, Mass, Aug. 11, 2025 (GLOBE NEWSWIRE) -- McKinley Acquisition Corporation (the “Company”), announced the pricing of its initial public offering of 15,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Company’s initial business combination. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the symbol “MKLYU” beginning on August 12, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights will be traded on Nasdaq under the symbols “MKLY” and “MKLYR,” respectively.

The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

Clear Street LLC is acting as the sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager.

The Company has granted the underwriters a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained, when available, from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@clearstreet.io, or from the U.S. Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
McKinley Acquisition Corp
info@mckinleyspac.com
Peter Wright

FAQ

What is the IPO price and size for McKinley Acquisition Corp (MKLY)?

McKinley Acquisition Corp priced its IPO at $10.00 per unit for 15,000,000 units, raising a total of $150 million.

When will McKinley Acquisition Corp (MKLY) start trading on Nasdaq?

The units will begin trading on the Nasdaq Global Market under symbol MKLYU on August 12, 2025. The Class A shares and rights will later trade separately as MKLY and MKLYR.

What does each McKinley Acquisition Corp (MKLY) unit include?

Each unit consists of one Class A ordinary share and one right. Each right allows holders to receive one-tenth of a Class A ordinary share upon completion of a business combination.

Who are the underwriters for McKinley Acquisition Corp's IPO?

Clear Street LLC is the sole book-running manager, with Brookline Capital Markets, a division of Arcadia Securities, LLC, acting as co-manager.

What is the over-allotment option for McKinley Acquisition Corp's IPO?

Underwriters have a 45-day option to purchase up to 2,250,000 additional units at the IPO price to cover over-allotments.