Haymaker V completes $287.5M blank-check IPO
SPAC HYAC raised $287.5 million in its IPO and placed the full amount in a trust account pending a future business combination.
Rhea-AI Filing Summary
Haymaker Acquisition Corp V (HYAC) completed its initial public offering of 28,750,000 units, including the full exercise of the underwriters’ over-allotment option of 3,750,000 units, at $10.00 per unit, generating $287,500,000 in gross proceeds. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable at $11.50 per share.
Simultaneously, the company sold 5,333,333 Private Placement Warrants to its sponsor and underwriters at $1.50 per warrant, for $8,000,000 in proceeds. A total of $287,500,000 (including $12,250,000 of deferred underwriting discount) from the IPO and private placement was placed in a U.S.-based trust account.
The trust funds may be used only for taxes and winding-up expenses until the earliest of completing an initial business combination, redeeming public shares after 24 months from the IPO closing if no business combination is completed, or certain shareholder-approved amendments to the company’s governing documents.
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8-K Event Classification
Key Figures
Key Terms
blank check company financial
over-allotment option financial
redeemable warrant financial
trust account financial
Amended and Restated Memorandum and Articles of Association regulatory
FAQ
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What was the size of Haymaker Acquisition Corp V (HYAC)'s IPO?
What does each HYAC unit consist of and what is the warrant exercise price?
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What private placement did HYAC complete alongside the IPO?
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AI-generated analysis. How Rhea-AI works. Not financial advice.