Suncrete and Haymaker Acquisition Corp. 4 Announce Upsizing of Private Placement from $105.5 Million to $167.1 Million and Extend Stockholder Redemption Deadline Accessibility StatementSkip Navigation DALLAS, March 27, 2026 /PRNewswire/ -- Concrete Partners Holding, LLC ("Suncrete" or the "Company"), a ready-mix concrete logistics and distribution platform strategically located in Oklahoma and Arkansas, and Haymaker Acquisition Corp. 4 (NYSE: HYAC) ("Haymaker"), a publicly traded special purpose acquisi ...

Suncrete and Haymaker Acquisition Corp. 4 Announce Entering Into Non-Redemption Agreements with Certain Institutional Investors Accessibility StatementSkip NavigationDALLAS, March 25, 2026 /PRNewswire/ -- Concrete Partners Holding, LLC ("Suncrete" or the "Company"), a ready-mix concrete logistics and distribution platform strategically located in Oklahoma and Arkansas, and Haymaker Acquisition Corp. 4 (NYSE: HYAC) ("Haymaker"), a publicly traded special purpose acquisition company, today announced that they ...

Core Viewpoint - Suncrete, a ready-mix concrete logistics and distribution platform, has secured support agreements with a majority of Haymaker Acquisition Corp. 4's warrantholders to facilitate the exchange of public warrants for cash and shares, positioning the company for its upcoming business combination and public market entry [1][2]. Company Overview - Suncrete operates as a ready-mix concrete company in Oklahoma and Arkansas, with plans for expansion in the U.S. Sunbelt region, focusing on scalable and vertically integrated logistics and distribution [1][2]. - The company utilizes a decentralized plant network strategy, ensuring efficient operations and customer engagement across various markets [1]. Business Combination Details - Haymaker Acquisition Corp. 4 is set to complete its business combination with Suncrete in the first quarter of 2026, after which the combined entity will be named Suncrete, Inc. and will trade on Nasdaq under the ticker symbol "RMIX" [1]. - The business combination is supported by an upsized institutional investor commitment, increasing from $82.5 million to $105.5 million, providing a strong capital foundation for Suncrete [1]. Market Position and Growth Strategy - Suncrete aims to leverage its local market leadership and operational scale to expand its market share and drive organic growth, while also pursuing accretive acquisitions [1]. - The company is well-positioned to benefit from trends such as population growth, urbanization, and infrastructure investment in the Sunbelt region [1].

Core Viewpoint - The acquisition of Schwarz Ready Mix by Suncrete significantly enhances its operations in the Oklahoma City metro area, adding 20 ready-mix plants and over 100 mixer trucks, while also integrating more than 200 employees from Schwarz [1][2]. Company Overview - Suncrete is a ready-mix concrete logistics and distribution platform operating in Oklahoma and Arkansas, with plans for expansion throughout the U.S. Sunbelt region [3]. - The company operates a decentralized plant network with centralized oversight on pricing and customer relationships, ensuring timely delivery of products [3]. Acquisition Details - Suncrete has acquired substantially all assets of SRM, Inc. and all equity interests of Schwarz Sand, LLC, which collectively operate a ready-mix concrete business in Oklahoma City and surrounding areas [1]. - The acquisition aligns with Suncrete's growth strategy to expand its geographic reach and scale operations in new local markets [2]. Market Position - Suncrete aims to leverage its local market leadership and integrated logistics to capitalize on ongoing population growth, urbanization trends, and infrastructure investments in the Sunbelt region [3].

Core Viewpoint - SunTx Capital Partners and Haymaker Acquisition Corp. 4 announced a business combination that will lead to the public listing of Concrete Partners Holding, LLC (Suncrete) on the New York Stock Exchange, expected to close in Q1 2026 [1][3][6] Company Overview - Suncrete operates as a ready-mix concrete logistics and distribution platform, primarily in Oklahoma and Arkansas, with plans for expansion throughout the U.S. Sunbelt region [4][8] - The company has established high-quality concrete plants and tech-enabled mixer trucks, positioning itself as a mission-critical partner in the construction value chain [4][8] Financial Highlights - The pro forma enterprise value of the combined company (PubCo) is estimated at approximately $972.6 million, based on an estimated $11.37 in trust per share at the closing of the business combination [4][6] - Suncrete has secured commitments of $82.5 million from institutional investors through a common stock private placement to support its growth objectives [3][4] Growth Strategy - Suncrete aims to expand its market share through a combination of organic growth and strategic acquisitions, targeting the fragmented ready-mix concrete industry, which consists of over 3,000 concrete plants in the Sunbelt region [4][5] - The company is focused on serving infrastructure, commercial, and residential end markets, leveraging its operational expertise to maintain industry-leading profitability and cash conversion [4][5] Management Insights - The leadership team at Suncrete has achieved over 20% annual growth since its inception in 2008 by executing a scalable strategy of increasing local market share and entering new markets [3][5] - The partnership with Haymaker is viewed as a strategic advantage, providing a sophisticated and experienced collaboration to enhance growth potential [3][5] Transaction Details - The business combination has been approved by the boards of both companies and is subject to shareholder approval and customary closing conditions [6] - The transaction is expected to be completed in the first quarter of 2026, marking a significant milestone for Suncrete as it transitions to a publicly traded entity [6]

IPO and Financial Proceeds - The company completed its Initial Public Offering on July 28, 2023, raising gross proceeds of $230 million from the sale of 23 million Units at $10.00 per Unit[24]. - An additional $7.976 million was generated from the sale of 797,600 Private Placement Units at the same price, bringing total proceeds to $232.3 million[25][26]. - The Trust Account currently holds $232.3 million, which includes $226 million from the IPO and $6.3 million from the Private Placement[26]. - As of December 31, 2024, the company has approximately $248,821,435 available for a Business Combination, assuming no redemptions[59]. - The amount in the Trust Account as of December 31, 2024 was approximately $10.86 per Public Share, which will be the redemption price for Public Shareholders[76]. - The company has approximately $101,126 held outside the Trust Account as of December 31, 2024, to fund costs associated with its dissolution plan[102]. - The per-share redemption amount for Public Shareholders upon dissolution is estimated to be approximately $10.86 as of December 31, 2024, but may be subject to claims from creditors[103]. - The company has placed $232.3 million in its Trust Account from its Initial Public Offering, with a pro rata redemption price expected to be approximately $10.10 per Public Share[134]. Business Combination Plans - The company has until July 28, 2025, to complete its initial Business Combination, which is a 24-month period from the IPO closing date[28]. - The company has not yet identified a specific Business Combination target and has generated no operating revenues to date[21][22]. - The company intends to pursue Business Combination opportunities across various industries and geographic locations, not limited to the consumer sector[22]. - The company may seek to extend the Combination Period with shareholder approval if necessary[30]. - The company may complete its initial Business Combination using cash, debt, or equity securities, providing flexibility in structuring the transaction[59]. - The company may pursue an initial Business Combination with affiliated companies, provided an independent valuation opinion is obtained[54]. - The company will only consummate an initial Business Combination if net tangible assets are at least $5,000,001 either immediately prior to or upon consummation[77]. - If the initial Business Combination is not completed, Public Shareholders who elected to redeem their shares will not be entitled to redeem for their pro rata share of the Trust Account[95]. - If the initial Business Combination is not approved, the company may continue to seek a different target until the end of the Combination Period[96]. Management and Governance - The Management Team has over 75 years of combined experience in the consumer and consumer-related products and services industries, focusing on value creation initiatives[27]. - The Management Team's strategy includes leveraging their extensive networks to identify and acquire undervalued businesses with growth potential[36][39]. - The company anticipates potential conflicts of interest due to the ownership of Founder Shares and Private Placement Units by its Management Team and independent directors[55]. - The company has a fiduciary duty to present Business Combination opportunities to other entities if its officers or directors have obligations to those entities[56]. - The board of directors includes professionals with significant experience in finance, law, and consumer products, ensuring strong governance and strategic oversight[213]. - The leadership team is well-qualified, with backgrounds in investment, financial modeling, and corporate governance, positioning the company for future growth[216]. - The management team includes Christopher Bradley as CEO and CFO, with over 20 years of investing experience[204]. - Andrew R. Heyer served as Chief Executive Officer and Executive Chairman from July 2023 until November 2024, bringing over 40 years of experience in the consumer products industry[210]. - The company has a focus on identifying and implementing value creation initiatives within the consumer and consumer-related products and services industries[213]. Financial Condition and Risks - The company has not taken steps to secure third-party financing for the Business Combination, and there is no assurance that it will be available[59]. - The company faces competition from other SPACs and private equity groups, which may limit its ability to acquire larger target businesses due to financial resource constraints[113]. - The company faces substantial doubt about its ability to continue as a "going concern" due to potential needs for additional financing and the deadline for liquidating its Trust Account[133]. - The company has a liquidity condition that raises substantial doubt about its ability to continue as a going concern one year from the date of the financial statements[172]. - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial Business Combination[158]. - The company may face risks associated with a lack of business diversification after completing the Business Combination[60]. - The company may face increased competition in finding an attractive target for its initial Business Combination, potentially raising costs and risks[126]. - The company is subject to cybersecurity risks, which could lead to financial loss if incidents occur[140]. Shareholder Rights and Redemption - Public Shareholders may redeem up to 15% of the Public Shares sold in the Initial Public Offering without prior consent[89]. - A quorum for shareholder meetings requires holders of one-third of the shares, and only 8,226,201 Public Shares (approximately 35.8%) need to be voted in favor for approval of the initial Business Combination[81]. - The redemption price for Public Shares will be based on the aggregate amount in the Trust Account divided by the number of outstanding Public Shares[97]. - Initial Shareholders have waived rights to liquidating distributions from the Trust Account for Founder Shares and Private Placement Shares if the initial Business Combination is not completed[100]. - The company intends to conduct redemptions in accordance with SEC regulations, which may include filing proxy materials and tender offer documents[82]. - The company has a redemption feature for Public Shares in connection with liquidation or shareholder votes related to the initial Business Combination[184]. Financial Performance - As of December 31, 2024, the company had a net income of $11,323,538, consisting of interest earned on investments held in its Trust Account of $12,263,797, offset by general and administrative expenses of $940,259[161]. - For the period from March 7, 2023, through December 31, 2023, the company reported a net income of $4,701,033, with interest earned of $5,196,857 and general and administrative expenses of $495,824[162]. - The company had $101,126 in cash held outside of the Trust Account and a working capital deficit of $509,895 as of December 31, 2024[170]. - The company incurred $240,000 and $104,516 in expenses under the Administrative Services Agreement for the years ended December 31, 2024, and 2023, respectively[177]. Compliance and Reporting - The company is required to file periodic reports with the SEC, including audited financial statements of the prospective target business[115]. - The company is classified as an "emerging growth company," allowing it to take advantage of certain reporting exemptions[121]. - The company intends to remain an "emerging growth company" until the earlier of July 28, 2028, achieving total annual gross revenue of at least $1.235 billion, or being deemed a large accelerated filer with a market value exceeding $700 million[123]. - The company is classified as a "smaller reporting company," allowing it to provide only two years of audited financial statements until it exceeds a market value of $250 million or annual revenues of $100 million[124]. - The company does not expect any recently issued accounting pronouncements to have a material effect on its financial statements[188]. - The adoption of ASU 2020-06 on March 7, 2023, did not impact the financial statements[185]. - The company assessed the effectiveness of its internal control over financial reporting as of December 31, 2024, and determined it was effective[197]. - There were no changes to internal control over financial reporting during the quarterly period ended December 31, 2024, that materially affected it[199]. Legal and Regulatory Matters - The company currently has no material litigation pending against it or its officers and directors[142]. - There are no material legal proceedings involving any director or executive officer adverse to the Company[220].

Financial Performance - The company had a net income of $2,877,078 for the three months ended September 30, 2024, primarily from interest earned on investments held in the Trust Account of $3,154,569, with general and administrative expenses of $277,491 [102]. - For the nine months ended September 30, 2024, the company reported a net income of $8,686,281, driven by interest income of $9,397,868 and general and administrative expenses totaling $711,587 [102]. - The company has a net cash used in operating activities of $255,160 for the nine months ended September 30, 2024, influenced by changes in operating assets and liabilities [105]. Initial Public Offering - The company generated gross proceeds of $230,000,000 from its Initial Public Offering of 23,000,000 Units on July 28, 2023 [107]. Liquidity and Going Concern - As of September 30, 2024, the company had $15,815 in cash outside of the Trust Account and a working capital deficit of $281,223, raising substantial doubt about its ability to continue as a going concern [112]. - The company must complete its initial Business Combination by July 28, 2025, or face mandatory liquidation [113]. - The June 2024 Promissory Note allows the company to draw up to $1,500,000 for working capital expenses, with $150,000 already drawn as of September 30, 2024 [119]. Operational Status - The company has not engaged in any operations or generated revenues to date, with activities limited to organizational efforts and searching for a Business Combination target [101]. Regulatory Environment - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial Business Combination, potentially increasing costs and time [99]. Expenses - The company incurred $60,000 and $180,000 in expenses under the Administrative Services Agreement for the three and nine months ended September 30, 2024, respectively [118]. Accounting Policies - The company adopted ASU 2020-06 effective March 7, 2023, which simplifies accounting for convertible instruments, but it did not impact the unaudited condensed financial statements [124]. - Management believes that recently issued accounting pronouncements will not materially affect the financial statements [125]. Shareholder Considerations - Class A Ordinary Shares are subject to redemption in connection with liquidation, shareholder votes, or certain amendments to the charter [122].

Operations and Revenue - The company has not engaged in any operations or generated any revenues to date, focusing solely on organizational activities and searching for a Business Combination target [91]. - The company has until July 28, 2025, to complete its initial Business Combination, or it will face mandatory liquidation [92]. - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial Business Combination [93]. Financial Performance - As of June 30, 2024, the company reported a net income of $5,809,203, primarily from interest earned on investments held in the Trust Account, totaling $6,243,299 [96]. - The company incurred general and administrative expenses of $196,552 for the three months ended June 30, 2024 [96]. - As of June 30, 2024, the company had a working capital deficit of $24,266 and cash of $33,388 held outside the Trust Account [101]. Initial Public Offering - The company completed its Initial Public Offering on July 28, 2023, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units [98]. - A total of $232,300,000 was placed in the Trust Account following the Initial Public Offering, with an interest rate of $10.10 per Unit [99]. Financing and Debt - The company issued a June 2024 Promissory Note for up to $1,500,000 to the Sponsor, with $150,000 drawn as of June 30, 2024 [94]. - The company expects to use substantially all funds in the Trust Account to complete its initial Business Combination and cover tax obligations [100]. Accounting and Internal Controls - The company has adopted ASU 2020-06 effective March 7, 2023, which simplifies accounting for convertible instruments, but it did not impact the unaudited condensed financial statements [109]. - As of June 30, 2024, the company's disclosure controls and procedures were evaluated as effective by the Certifying Officers [113]. - There have been no changes to the internal control over financial reporting during the quarterly period ended June 30, 2024, that materially affected the internal control [115]. - The company does not expect any recently issued accounting pronouncements to have a material effect on its financial statements [110]. Legal Matters - There is no material litigation currently pending or contemplated against the company or its officers [117].

Financial Performance - The company had a net income of $2,866,208 for the three months ended March 31, 2024, primarily from interest earned on investments held in the Trust Account amounting to $3,103,752, offset by general and administrative expenses of $237,544[106]. - For the period from March 7, 2023, to March 31, 2023, the company reported a net loss of $5,550 due to general and administrative expenses[108]. - The company incurred $60,000 in expenses under the Administrative Services Agreement for the three months ended March 31, 2024[122]. - The company generated non-operating income in the form of interest income on investments held in the Trust Account, with expectations of no operating revenues until after the completion of the initial Business Combination[105]. Cash and Working Capital - As of March 31, 2024, the company had $40,430 in cash held outside of the Trust Account and working capital of $110,685, raising substantial doubt about its ability to continue as a going concern one year from the date of the financial statements[116]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on July 28, 2023, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units, including 3,000,000 Units from the underwriters' over-allotment option[112]. - Following the IPO, $232,300,000 was placed in the Trust Account, which is intended to be used for the initial Business Combination[114]. Business Combination - The company must complete its initial Business Combination by July 28, 2025, or face mandatory liquidation and dissolution[117]. - The company has not yet selected a Business Combination target but is focusing on businesses in the consumer and consumer-related products and services industries[102]. - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial Business Combination, increasing costs and time related to the process[104]. Internal Controls and Compliance - Disclosure controls and procedures were evaluated and deemed effective as of March 31, 2024[132]. - There have been no changes to internal control over financial reporting that materially affected the company's controls during the quarterly period ended March 31, 2024[134]. - Management does not expect any recently issued accounting pronouncements to materially affect the unaudited condensed financial statements[129]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[130].

Financial Overview - The company completed its Initial Public Offering on July 28, 2023, raising gross proceeds of $230 million from the sale of 23 million Units at $10.00 per Unit[24]. - An additional $7.976 million was raised through the sale of 797,600 Private Placement Units at the same price, bringing total proceeds to $232.3 million[25][26]. - The Trust Account holds $232.3 million, which includes $226 million from the IPO and $6.3 million from the Private Placement[26]. - As of December 31, 2023, the company has approximately $236,441,201 available for a Business Combination, assuming no redemptions[60]. - The company has approximately $205,975 held outside the Trust Account as of December 31, 2023, to cover costs associated with its dissolution plan[98]. - The per-share redemption amount for Public Shareholders upon dissolution is approximately $10.28 as of December 31, 2023, but may be subject to claims from creditors[99]. - The company has access to approximately $205,975 from the Initial Public Offering proceeds to pay potential claims, with estimated liquidation costs not exceeding $100,000[102]. - The company incurred general and administrative expenses of $495,824 during the reporting period[155]. - The company has not paid any cash dividends on its Ordinary Shares to date and does not intend to do so prior to the completion of its initial Business Combination[144]. Business Combination Strategy - The company has a 24-month period to complete its initial Business Combination, which must be finalized by July 28, 2025[28]. - The company has not yet identified a specific Business Combination target and has generated no operating revenues to date[21][22]. - The company may pursue Business Combination opportunities in various industries and geographic locations, not limited to the consumer sector[22]. - The Management Team's strategy focuses on identifying undervalued companies with potential for operational improvements and attractive risk-adjusted returns[49]. - The company may seek to extend the Combination Period with shareholder approval if the initial Business Combination is not completed within the specified timeframe[28]. - The company has not contacted any prospective target businesses that were previously considered by other SPACs, indicating no current evaluation of potential acquisition targets[53]. - The company may pursue an initial Business Combination with affiliated entities, provided an independent valuation confirms fairness[54]. - The company anticipates that its success may depend entirely on the performance of a single business post-Business Combination, leading to a lack of diversification[63]. - The company has the flexibility to complete its Business Combination using cash, debt, or equity securities, tailoring the consideration to the target's needs[60]. - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[162]. Shareholder Rights and Redemption - Shareholder approval may be required for the initial Business Combination under NYSE rules, particularly if certain ownership thresholds are met[69]. - Approximately 35.8% of the 23,000,000 Public Shares sold in the Initial Public Offering need to be voted in favor of the initial Business Combination for approval[82]. - Public Shareholders may redeem their shares either through a general meeting or a tender offer[80]. - The redemption opportunity will also be provided if the company seeks to amend its Amended and Restated Charter to extend the Combination Period[87]. - Shareholders are restricted from seeking redemption rights for more than 15% of the shares sold in the Initial Public Offering without prior consent[88]. - If the initial Business Combination is not approved, Public Shareholders who elected to redeem their shares will not be entitled to redeem for the pro rata share of the Trust Account[93]. - The company will only redeem Public Shares if net tangible assets are at least $5,000,000 prior to or upon consummation of the initial Business Combination[97]. - If the aggregate cash consideration for all Class A Ordinary Shares validly submitted for redemption exceeds available cash, the initial Business Combination will not be completed[77]. Management and Experience - The Management Team has over 75 years of combined experience in the consumer and consumer-related products and services industries[27]. - The Chief Executive Officer has over 40 years of experience in finance and investment, particularly in the consumer products industry[187]. - Steven J. Heyer has over 35 years of experience in consumer products and services, previously serving as CEO of multiple companies including Haymaker III and Starwood Hotels & Resorts[190]. - Christopher Bradley, CFO, has over 20 years of experience in venture capital and private equity, leading mergers for Haymaker Acquisition Corp. III and II[191]. - Walter F. McLallen has over 30 years of experience in leveraged finance and private equity, previously serving as a director for Centric Brands Inc. and AerCap Holdings N.V.[199]. - Brian Shimko has over 15 years of experience in investment and financial modeling, previously serving as Senior Vice President of Haymaker III[200]. - The management team has extensive experience in identifying and executing business combinations, although their current roles are not guaranteed post-acquisition[201]. - The management team is involved with other businesses, which may impact their availability for the company's operations[201]. Regulatory and Compliance - The company is classified as an "emerging growth company" and will remain so until it has total annual gross revenue of at least $1.235 billion or the market value of its Class A Ordinary Shares exceeds $700 million[114]. - The company is also a "smaller reporting company," allowing it to provide only two years of audited financial statements until its market value exceeds $250 million or annual revenues exceed $100 million[115]. - The company is required to evaluate its internal control procedures for the fiscal year ending December 31, 2024, as mandated by the Sarbanes-Oxley Act[109]. - The company’s disclosure controls and procedures were deemed effective as of the end of the fiscal year ended December 31, 2023[179]. - The company does not expect that its disclosure controls and procedures will prevent all errors and instances of fraud[180]. - Management does not believe that any recently issued accounting pronouncements would have a material effect on the financial statements[173]. Risks and Challenges - The company faces risks related to market conditions, economic uncertainty, and potential conflicts of interest that could impact its ability to complete a Business Combination[118]. - The company may encounter difficulties in selecting a suitable business target and completing its initial Business Combination within the prescribed timeframe[116]. - Cyber incidents or attacks could lead to information theft, operational disruption, and financial loss, posing a significant risk to the company's operations[123]. - There is substantial doubt about the company's ability to continue as a "going concern" due to potential needs for additional financing to complete its initial Business Combination[121]. - The company is subject to competition from other SPACs, private equity groups, and public companies, which may limit its ability to acquire larger target businesses[105]. Governance and Board Structure - The Board of Directors consists of five members divided into three classes, with each class serving a three-year term[204]. - The Audit Committee is comprised solely of independent directors, with Mr. McLallen serving as the chairman[211]. - The Compensation Committee reviews and approves the Chief Executive Officer's compensation based on annual corporate goals and objectives[218]. - The Nominating Committee is responsible for identifying and recommending candidates for director positions[219]. - The Audit Committee has adopted a charter detailing its principal functions, including oversight of financial statements and independent auditors[212]. - The Compensation Committee may retain external advisers and is responsible for overseeing executive compensation policies[214]. - The company has established a Code of Ethics applicable to directors, officers, and employees[217]. - The Board of Directors is not required to hold an annual meeting until one year after the first fiscal year end following the NYSE listing[204]. - Holders of Class B Ordinary Shares have the right to vote on the appointment of directors prior to the initial Business Combination[207].