Suncrete, Inc. has announced a significant development in its corporate structure through a Securities Exchange Agreement executed on March 26, 2026. This agreement involves the issuance of 26,000 shares of Series A Convertible Perpetual Preferred Stock to holders of its Senior Preferred Units. The exchange is part of a broader Business Combination Agreement with Haymaker Acquisition Corp. 4, which was initially signed on October 9, 2025. The exchange will automatically occur prior to the closing of the Acquisition Merger, contingent upon the acceptance of the Certificate of Designation for the Series A Preferred Stock by the Delaware Secretary of State. The Series A Preferred Stock will accrue dividends at an annual rate of 9.0%, compounded quarterly, and will have a liquidation preference of $1,000 per share plus any accrued dividends. This move is expected to enhance the liquidity of Suncrete's capital structure while providing existing investors with a more favorable equity position. The company has also indicated that the obligations to consummate the exchange are subject to certain conditions, including maintaining available cash below $250 million at the time of closing. This strategic maneuver is anticipated to bolster Suncrete's financial standing and operational capabilities as it prepares for the upcoming merger.

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