Company: HYAC-WT
Filing Date: 2025-07-01
Form Type: DEF 14A
Source: 0001104659-25-064707
Chunk: 85

Company: Haymaker Acquisition Corp. 4
Filing Date: 2025-07-01
Form: DEF 14A
Chunk 85
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uciary duties or contractual obligations of our officers arising in the future would materially undermine our ability to complete our initial business combination. 49 Promissory Notes On March 15, 2023, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the IPO pursuant to a promissory note (the “IPO Promissory Note”). This loan was non-interest bearing and payable on the earlier of December 31, 2023 or the date on which the Company consummated the IPO. Prior to the IPO, the Company had borrowed $272,550 under the IPO Promissory Note. On July 28, 2023, the Company repaid the outstanding balance under the IPO Promissory Note in full. Borrowings under the IPO Promissory Note are no longer available to the Company subsequent to the IPO. On June 10, 2024, the Company issued a promissory note (the “WCL Promissory Note”) in the principal amount of up to $1,500,000 to the Sponsor. The WCL Promissory Note was issued in connection with advances the Sponsor may make in the future to the Company from time to time for working capital expenses. The WCL Promissory Note is non-interest bearing and payable upon the earlier of (i) completion of the Company’s initial business combination or (ii) the date the winding up of the Company is effective. At the election of the Sponsor, all or a portion of the unpaid principal amount of the WCL Promissory Note may be converted into WCL units at a price of $10.00 per WCL unit, which will be identical to the private placement units. These WCL units and their underlying securities are entitled to the registration rights set forth in the WCL Promissory Note. As of December 31, 2024, the Company had $400,000 drawn on this WCL Promissory Note. Working Capital Loans In order to finance transaction costs in connection with an initial business combination, our Sponsor, an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes the initial business combination, the Company will repay such working capital loans. In the event that the initial business combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such working capital loans, but no proceeds from the