McKinley Acquisition Corp — Form 8-K

McKinley Acquisition Corp (SPAC; $178.2M assets) agreed to merge with Space-Eyes, Inc., a private Delaware corporation, in an all-stock transaction dated July 30, 2026. Space-Eyes equity is valued at $275 million. The merger will be effected via domestication of SPAC from Cayman Islands to Delaware, followed by merger of SPAC's subsidiary into Space-Eyes. PIPE investors will provide up to $75 million in convertible notes and warrants ($5M initial, remainder post-closing). Company shareholders receive Domesticated SPAC Common Stock at $10.00 per share implied valuation; founders eligible for up to 8M earn-out shares at $12.50–$17.50 VWAP triggers over 5 years.