Company: HYAC-WT
Filing Date: 2025-10-14
Form Type: 425
Source: 0001104659-25-099338
Chunk: 2

Company: Haymaker Acquisition Corp. 4
Filing Date: 2025-10-14
Form: 425
Chunk 2
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 the Business Combination will be effected in three steps: (a) SPAC will change
its jurisdiction of incorporation from the Cayman Islands to the State of Delaware (the “Domestication” and the time at which
the Domestication becomes effective, the “Domestication Effective Time”), (b) immediately following the Domestication Effective
Time, Merger Sub I will merge with and into SPAC (the “Initial Merger”), with SPAC surviving the Initial Merger as a wholly
owned subsidiary of PubCo (the time at which the Initial Merger becomes effective, the “Initial Merger Effective Time”); and
(c) immediately following the Initial Merger Effective Time, Merger Sub II will merge with and into Suncrete (the “Acquisition Merger”
and, together with the Initial Merger, the “Mergers”, and collectively with the Domestication and all other transactions contemplated
by the Business Combination Agreement, the “Business Combination”), with Suncrete surviving the Acquisition Merger as a wholly
owned subsidiary of New Suncrete.

Conversion of Securities

In connection with the Domestication, SPAC will
change its jurisdiction of incorporation from the Cayman Islands to the State of Delaware by (i) deregistering as a Cayman Islands exempted
company and (ii) continuing and domesticating as a Delaware corporation.

At the Domestication Effective Time, by virtue
of the Domestication and without any action on the part of SPAC, any Merger Sub, Suncrete, PubCo or the holders of any of the following
securities:

| (a) | each Class B Ordinary Share of SPAC, par value $0.0001 per share (“SPAC Class B Ordinary Share”), that is issued and outstanding immediately prior to the Domestication Effective Time will convert automatically, on a one-for-one basis, into a share of Class B Common Stock of the post-Domestication SPAC, par value $0.0001 per share (“SPAC Class B Common Stock”); |

| (b) | immediately following the conversion described in clause (a) above, each Class A Ordinary Share of SPAC, par value $0.0001 per share (“SPAC Class A Ordinary Share”), that is then-issued and outstanding will convert automatically, on a one-for-one basis, into a share of Class A Common Stock of the post-Domestication SPAC, par value $0.0001 per share (“SPAC Class A Common Stock”); |