McKinley Acquisition Corp (MKLY) Form 10-Q — Aug 13, 2026
McKinley Acquisition Corporation (MKLY), a Cayman Islands SPAC, filed its 10-Q for the quarter ended June 30, 2026 reporting Q2 net income of $899,136 driven by $1,528,089 of interest earned on its Trust Account, which held $178,185,780, against $1,027,588 of working cash and a shareholders' deficit that widened to $4,340,442. The company disclosed substantial doubt about its ability to continue as a going concern, stating it lacks sufficient liquidity to meet obligations for one year. McKinley has roughly 18 months from its August 2025 IPO (approximately February 2027) to complete a business combination or redeem public shares and liquidate the trust.
Key figures
- Eps
- 0.04 (Q2 2026); 0.09 (six months 2026)
- Net Income
- 899,136 (Q2 2026); 2,185,631 (six months ended June 30, 2026)
- Debt Amount
- up to 83,660,130 (PIPE senior secured convertible notes principal)
- Total Assets
- 179336091
- Cash Position
- 1027588
- Deal Value Usd
- 275,000,000 (Space-Eyes Company Equity Value; 27,500,000 New Space-Eyes shares at $10.00)
- Interest Rate
- 10% per annum
- Maturity Date
- 2031
- Shares Outstanding
- 17,801,250 Class A (incl. 17,250,000 subject to redemption) and 6,543,103 Class B as of August 13, 2026
- Earnout shares
- 8000000
- Working capital
- 826791
- Pipe net proceeds
- 75000000
- Ipo gross proceeds
- 150000000
- Q2 2026 net income
- 899136
- Pipe warrant strike
- 12
- Trust account balance
- 178185780
- Overallotment proceeds
- 22500000
- Total transaction costs
- 7262013
- Business combination deadline
- 18 months from August 13, 2025 IPO closing (~February 2027)
- Pipe subsequent closing notes
- 77777777.78
- Prior period error adjustment
- 675000
- Q2 2026 trust interest income
- 1528089
- Six month trust interest income
- 3048031
- Deferred underwriting commissions
- 5175000
- Redemption value per public share
- 10.33
Price after filing
Close on the filing date to close N calendar days later (from $10.22). Historical, not a forecast.
AI analysis
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