Company: HYAC-WT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001410578-25-000354
Chunk: 24

Company: Haymaker Acquisition Corp. 4
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 24
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Item 1.Business.

General

We are a blank check company incorporated as an exempted company under the laws of the Cayman Islands on March 7, 2023 and will seek to effect an initial Business Combination with one or more businesses or entities. To date, our efforts have been limited to organizational activities, activities related to our Initial Public Offering, and, after the closing of the Initial Public Offering, searching for a Business Combination target. We have not selected any specific Business Combination target. We have generated no operating revenues to date and we do not expect that we will generate operating revenues until we consummate our initial Business Combination.

We intend to acquire and operate a business in the consumer and consumer-related products and services industries and believe our Management Team is well suited to identify opportunities that have the potential to generate attractive risk-adjusted returns for our shareholders. However, we are not limited to these industries and we may pursue a Business Combination opportunity in any business or industry we choose and we may pursue a company with operations or opportunities in any geographic location. Our executives are experienced at recognizing and quantifying the value of brands and creating strategies to reposition those brands globally so that they reach their full market potential. Because of our vast global network, we may pursue a Business Combination whose operations are not domiciled in the United States or whose business is conducted outside the United States. Not only does our Management Team bring a combination of operating, investing, financial and transaction experience, but certain members of our Management Team have also worked together for over a decade creating value for shareholders.

The 2024 SPAC Rules may materially affect our ability to negotiate and complete our initial Business Combination and may increase the costs and time related thereto.

Initial Public Offering

On July 28, 2023, we consummated our Initial Public Offering of 23,000,000 Units, including 3,000,000 Option Units issued pursuant to the full exercise of the Over-Allotment Option. Each Unit consists of one Public Share and one-half of one Public Warrant, with each whole Public Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds of $230,000,000. 

Simultaneously with the closing of the Initial Public Offering, pursuant to the Unit Subscription Agreement, we sold an aggregate of 797,600 Private Placement Units to our Sponsor in the Private Placement, including 30,