Haymaker Acquisition Corp. 4 ("Haymaker") has disclosed a significant development in its business combination with Suncrete, Inc. ("PubCo") through a Current Report on Form 8-K filed with the SEC. On March 26, 2026, PubCo entered into a Securities Exchange Agreement with holders of Suncrete's Senior Preferred Units, agreeing to issue 26,000 shares of Series A Convertible Perpetual Preferred Stock in exchange for these units. This exchange is set to occur automatically prior to the closing of the Acquisition Merger, contingent upon certain conditions, including the Available Cash being less than $250 million. The Series A Preferred Stock will initially accrue dividends at an annual rate of 9%, compounded quarterly, and will have a liquidation preference of $1,000 per share plus any accrued dividends. Furthermore, Haymaker has also entered into subscription agreements with accredited investors, raising a total of $167.1 million in connection with the business combination. This includes a new subscription agreement for $61.6 million, enhancing the financial backing for the merger. The filing also indicates that Haymaker has postponed its special meetings for shareholders and warrantholders to April 2, 2026, allowing additional time for stakeholders to consider the implications of the business combination. The overall sentiment from this filing suggests a positive outlook for Haymaker as it moves forward with its merger plans, although the postponement of meetings may create some uncertainty among investors.

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