Haymaker 4 Expands PIPE and Delays Suncrete Merger Vote

An announcement from Haymaker Acquisition Corporation 4 Class A ( (HYAC) ) is now available.

On March 26, 2026, PubCo, the Suncrete holding company in the planned merger with Haymaker Acquisition Corp. 4, agreed to exchange 26,000,000 Senior Preferred Units of Concrete Partners Holding for 26,000 shares of newly created Series A Convertible Perpetual Preferred Stock, carrying a 9% annual dividend and a $1,000 per share liquidation preference, with conversion into Class A common stock at a price tied to market value but not below $18. The exchange will occur automatically immediately before the acquisition merger if available cash is below $250 million, while on March 27, 2026 Haymaker and PubCo expanded their PIPE financing by $61.6 million to a total of $167.1 million and postponed both the warrantholder and shareholder meetings on the business combination from March 30 to April 2, 2026, extending the redemption deadline to April 1 and giving investors more time to assess the revised capital structure ahead of the vote.

The meeting postponements and enhanced PIPE commitments signal an effort to shore up cash proceeds, manage redemptions and align preferred and common equity holders as the SPAC seeks to close the Suncrete deal under volatile market and shareholder conditions.

More about Haymaker Acquisition Corporation 4 Class A

Haymaker Acquisition Corp. 4 is a special purpose acquisition company focused on completing a business combination, currently working to merge with construction materials business Suncrete through a newly formed public company, Suncrete, Inc. The transaction aims to take Suncrete public and provide growth capital via common equity, preferred stock and PIPE financing commitments from institutional investors.

Average Trading Volume: 242,494

Technical Sentiment Signal: Buy

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