Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 610

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 610
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.2 million. Redeemable Preferred Units On July 29, 2024, the Company issued 95.7 million Preferred Units with an aggregate estimated fair value of $67.3 million, consisting of 57.9 million units issued for cash and 37.8 million issued as part of the Concrete Acquisition. The Preferred Units accrue cumulative distributions at 10.0% of unreturned preferred contributions, compounding quarterly, and are subordinate to the Senior Preferred Units but senior to the Common Units in liquidation priority. The Preferred Units are also classified as mezzanine equity. As of June 30, 2025, the Preferred Units were carried at a redemption value of $104.8 million, reflecting cumulative accretion of $5.0 million during the six months ended June 30, 2025, compared to a redemption value of $99.8 million as of December 31, 2024. There were no changes to the number or terms of the Senior Preferred or Preferred Units during the six months ended June 30, 2025.

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TABLE OF CONTENTS

Note 10. Common Units As of June 30, 2025, the Company had 95.7 million Common Units outstanding. The Common Units were issued on July 29, 2024, for cash and in conjunction with the Concrete Acquisition, with an aggregate estimated fair value of $28.4 million at issuance. The Common Units rank junior to both the Senior Preferred Units and the Preferred Units with respect to distributions and liquidation preference. No distributions (including liquidating distributions) may be made to Common Unit holders until the Senior Preferred and Preferred Units have been fully redeemed. Thereafter, distributions may be made pro rata to Common Unit holders based on their percentage ownership, subject to the approval of the Board of Directors. There were no changes to the number of Common Units outstanding, or to their rights and privileges, during the six months ended June 30, 2025. Note 11. Share-Based Compensation On December 9, 2024, the Company established an equity participation program (the “Plan”) to attract, retain, and incentivize employees. The incentive units vest over a five-year period, with 33% vesting on the third anniversary of the grant date, 33% vesting on the fourth anniversary, and 34% vesting on the fifth anniversary. During the six months ended June 30, 2025, the Company granted 1,