McKinley Acquisition agrees to merge with counter-drone tech firm Space-Eyes in deal valuing it at $638 million

• Space-Eyes entered a definitive business combination agreement with McKinley Acquisition Corp., targeting a fourth-quarter 2026 close.
• Deal implies a pro forma equity value of $638 million, assuming no redemptions and a $5 million initial PIPE tranche.
• Implied enterprise value set at $370 million, backed by $176.7 million of trust capital.
• Up to $75 million PIPE arranged via senior secured convertible notes and warrants; notes carry 10% interest, mature in 2031.
• Post-close company to operate as Space-Eyes, with Nasdaq listing planned under ticker CUAS.

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