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McKinley Acquisition Corp (NASDAQ:MKLY) announced Friday that it has completed its initial public offering of 15,000,000 units at $10.00 per unit, raising gross proceeds of $150 million. Each unit consists of one Class A ordinary share and one right to receive one-tenth of a Class A ordinary share upon completion of an initial business combination.
Simultaneously with the IPO closing, McKinley Partners LLC, Clear Street LLC, and Brookline Capital Markets, a division of Arcadia Securities, LLC, purchased a total of 465,000 private placement units at $10.00 per unit. These private placement units are identical to those sold in the IPO, except they are subject to transfer restrictions. The purchasers were granted certain registration rights in connection with these units.
According to the company’s statement based on a SEC filing, as of August 13, 2025, $150 million of the net proceeds from the IPO and private placement were deposited into a trust account for the benefit of McKinley Acquisition Corp’s public shareholders.
The company’s securities are listed on the Nasdaq Stock Market LLC, with Class A ordinary shares trading under the symbol MKLY, rights under MKLYR, and units under MKLYU.
An audited balance sheet as of August 13, 2025, reflecting the receipt of proceeds from the IPO and private placement, was included as an exhibit to the filing. McKinley Acquisition Corp is classified as an emerging growth company.
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