Company: HYAC-WT
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001410578-25-001742
Chunk: 5

Company: Haymaker Acquisition Corp. 4
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2M
Chunk 5
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 decrease the amount held in our Trust Account and our capitalization, and may affect our ability to maintain our listing on NYSE. In addition, NYSE’s rules currently require SPACs (such as us) to complete our initial Business Combination in accordance with the NYSE Three Year Requirement. If we do not meet the NYSE Three Year Requirement, our securities will likely be subject to a suspension of trading and delisting from NYSE. Our Sponsor may also, in its discretion, explore transactions under which it would sell its interest in our Company to another sponsor entity, which may result in a change to our Management Team.

Recent Developments

Extension of Our Combination Period

On July 24, 2025, we held the 2025 AGM at which our shareholders approved, among other things, the Extension Amendment which extended the date by which we have to consummate a Business Combination on a monthly basis for up to twelve times from July 28, 2025 to July 28, 2026. As a result of the Extension Amendment, holders of 372,101 Class A Ordinary Shares exercised their right to redeem their shares for cash at a redemption price of approximately $11.12 per share. Approximately $4,136,911 was removed from the Trust Account to redeem such shares and 23,425,499 Class A Ordinary Shares remain outstanding after the redemption was effected. Upon payment of the redemption, approximately $251,570,445 remained in the Trust Account prior to any additional contribution made by the Sponsor pursuant to the Extension Promissory Note.

Extension Promissory Note

In connection with the Extension Amendment, the Sponsor agreed to make monthly payments, each in an amount equal to the lesser of (i) $0.025 for each outstanding Class A Ordinary Share, and (ii) $375,000, directly to the Trust Account. In exchange for such contributions, we issued to the Sponsor the Extension Promissory Note, in an aggregate principal amount of up to $4,500,000, on July