Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 244

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 244
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 interest in pursuing it. Haymaker executives discussed their respective professional backgrounds, and a conversation about Suncrete’s business model and acquisition strategy took place.

Between November 22, 2024, and December 16, 2024, Haymaker conducted industry research, company specific diligence, and analyzed the public market viability of Suncrete.

On December 14, 2024, the Haymaker Board met telephonically to discuss and approve the submission of a proposal to SunTx regarding a business combination with Suncrete.

On December 16, 2024, Haymaker electronically presented a proposal to Suncrete outlining the financial details and timeframe of a potential transaction. This initial proposal included Haymaker’s initial view of valuation for Suncrete, sources and uses for a potential business combination, and a detailed analysis of public investors who have invested in comparable public companies.

On December 26, December 30, and December 31, 2024, representatives of SunTx and Haymaker discussed the viability and structure of a potential business combination. In addition, Haymaker refined the value of the business combination and sources and uses of capital for the business combination based on updated net debt figures and anticipated transaction expenses.

On January 3, 2025, representatives of SunTx and Haymaker began discussing a letter of intent. Between January 3, 2025 and January 17, 2025, representatives of Haymaker and representatives of SunTx, together with their respective legal counsel, negotiated the terms of the letter of intent. The letter of intent memorialized the verbal discussions held in December about Suncrete’s valuation and sources and uses of capital for the potential business combination (including PIPE Offerings and minimum cash conditions) as well as details in the written proposal submitted in December, including allocation of share consideration among Dothan Independent, Sponsor, shareholders of Haymaker and equityholders of Suncrete, supplemented by important legal terms such as exclusivity, timeframe for completion of a business combination agreement, and how transaction costs pre-closing would be borne by the parties. Haymaker’s

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management kept the Haymaker Board apprised of the substantive changes that occurred during those negotiations. On January 6 and January 9, 2025, representatives of Haymaker held a telephonic conference with representatives of SunTx to discuss Suncrete’s financial model, which included financial projections summarized under the section titled “ Shareholder Proposal No. 1 — The Business Combination Proposal — Summary of Hay