Space-Eyes is expected to appoint four directors to the post-merger board as it prepares to become a public company through a fourth-quarter business combination with McKinley Acquisition Corp., a special purpose acquisition company. The transaction implies a pro forma equity value of $638 million and an enterprise value of $370 million, assuming no redemptions from McKinley's trust account and receipt of an initial $5 million PIPE tranche. The proposed board members are retired U.S. Army Lieutenant Colonel James Reese, founder of TigerSwan; Wharton School professor Harbir Singh; aerospace entrepreneur Norm Christensen; and former Morgan Stanley Worldwide Investment Banking head Terry Meguid. Their experience spans national security, intelligence, defense manufacturing, strategy, innovation, mergers and acquisitions, capital markets and public-company governance. Space-Eyes develops AI-driven geospatial intelligence and counter-unmanned aerial systems for defense, security, maritime and disaster-monitoring applications. McKinley has approximately $176.7 million in its trust account and the parties have sourced up to $75 million in PIPE financing, subject to transaction terms. Earlier materials described a $12 million initial PIPE tranche, while the latest release states that the initial tranche is $5 million. The combined company is expected to retain the Space-Eyes name and list on Nasdaq under CUAS, subject to approval. Eric Trump remains an investor and strategic adviser but is not expected to join the board.