Haymaker Acquisition Corp. 4 has reported its financial performance for the fiscal year ending December 31, 2025, revealing a net loss of $1.47 million, a significant decline from a net income of $11.32 million in the previous year. The company generated no operating revenues, as it is a blank check company focused on completing a business combination, specifically with Suncrete, Inc. The total assets held in the Trust Account amounted to approximately $258.24 million, reflecting an increase from $249.76 million in 2024. The company’s working capital deficit stood at $5.52 million as of December 31, 2025, compared to $509,895 in the prior year.
In terms of strategic developments, Haymaker Acquisition Corp. 4 is in the process of finalizing its business combination with Suncrete, which was formalized through a Business Combination Agreement on October 9, 2025. The company has also secured a PIPE investment totaling approximately $167.1 million, which is expected to support the transaction. Additionally, the company has entered into Non-Redemption Agreements with certain investors, allowing them to acquire Public Shares while waiving their redemption rights, thereby enhancing the financial stability of the Trust Account.
Operationally, the company has maintained a consistent headcount of three executive officers, with no full-time employees prior to the completion of the business combination. The management team, led by CEO Christopher Bradley and Vice President Andrew R. Heyer, has extensive experience in mergers and acquisitions, which is expected to facilitate the identification and execution of suitable business combinations. As of March 30, 2026, the company had 23,425,499 Class A Ordinary Shares and 5,750,000 Class B Ordinary Shares outstanding.
Looking ahead, Haymaker Acquisition Corp. 4 has until July 28, 2026, to complete its initial business combination, following an extension approved by shareholders in July 2025. The company has indicated that it may seek further extensions if necessary, although this could impact the amount held in the Trust Account and the overall capitalization. The management remains optimistic about finalizing the Suncrete business combination, which is anticipated to meet the NYSE's three-year requirement for SPACs. However, the company acknowledges the inherent risks associated with completing the transaction, including market conditions and the potential need for additional financing.
About Haymaker Acquisition Corp. 4
A special purpose acquisition company (SPAC) incorporated in the Cayman Islands, Haymaker Acquisition Corp. 4 seeks to identify and acquire a business in the consumer and related industries. It leverages a global network of industry contacts and experienced management to complete a business combination, providing liquidity and growth capital to target companies. The company operates a flexible, transaction-focused business model with a focus on operational value creation.
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