Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 474

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 474
---
 satisfy the above criteria:

Lease Agreement

On July 1, 2022, the Company entered into a lease agreement with Bedrock Construction, LLC (the “Lease Agreement”), pursuant to which the Company leases its Northwest Arkansas office. Randall Edgar, who is the current Chief Executive Officer of Suncrete and will serve as New Suncrete’s Chief Executive Officer following completion of the Business Combination, has an equity interest in Bedrock Construction, LLC. The lease is classified as an operating lease and was entered into under terms that the Company’s management believed were consistent with market terms for similar properties.

For the Successor period from May 22, 2024 through December 31, 2024, the Company incurred lease expense of approximately $38,100 under the Lease Agreement. For the Predecessor periods from January 1, 2024 through July 29, 2024, and the year ended December 31, 2023, the Company incurred lease expense of approximately $53,400 and $92,300, respectively, under the Lease Agreement.

As of December 31, 2024 and December 31, 2023, the Company had outstanding lease liabilities related to the Lease Agreement of approximately $238,400 and $345,000, respectively, included in lease liabilities on the Company’s balance sheets.

Arrangements with Dothan Concrete

On July 29, 2024, Dothan Management and Suncrete entered into the Dothan Management Agreement, pursuant to which Dothan Management provides management services to Suncrete, including management services in connection with the development activities and the operation and conduct of Suncrete’s business. The Dothan Management Agreement provides, among other things, for quarterly consulting payments by Suncrete to Dothan Management equal to one-fourth of 3.0% of trailing twelve-month EBITDA for 2024 and one-fourth of 5.0% thereafter, subject to an annual cap of $3.2 million for strategic, financial, and operational advisory services to support the Suncrete’s board and management team on matters such as acquisitions, financing, contract negotiations, and growth initiatives. Suncrete also reimburses, at cost, any third-party diligence and advisory costs that are initially funded by the affiliate on the Company’s behalf. In addition, for each completed add-on acquisition, Suncrete pays a contingent diligence and integration fee equal to 2.0 % of the acquired enterprise value in consideration for the affiliate’s time and effort involved in transaction execution and post-c