McKinley Acquisition Corp. closes $150M IPO; auditor raises going concern doubt

McKinley Acquisition Corp

IPO of 15M units at $10.00 closed Aug 13, 2025; gross proceeds $150M deposited in trust.
Private placement of 465K units at $10.00 with sponsor and underwriters for $4.65M ($0.5M subscription receivable).
Auditor's report includes a going concern paragraph citing insufficient liquidity to fund operations for one year without a business combination.
Underwriters exercised over-allotment option in full on Aug 19, 2025 (after balance sheet date).
No business combination target identified; company has 18 months from IPO closing to complete a deal.

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