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Haymaker Acquisition Corp. 4 (HYAC) sponsor reports 0% stake after Suncrete business combination

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Haymaker Acquisition Corp. 4’s former sponsor group now reports no remaining stake in the SPAC’s Class A shares. Haymaker Sponsor IV LLC, Andrew R. Heyer and Steven J. Heyer each disclose beneficial ownership of 0 Class A Ordinary Shares, representing 0% of the class.

The change follows completion of a multi-step business combination on April 8, 2026, in which Haymaker domesticated from the Cayman Islands to Delaware and merged into Suncrete, Inc. (PubCo) structures. SPAC shares and warrants were converted into PubCo equity and Company Warrants, and sponsor-related holdings shifted into PubCo securities.

Positive

  • None.

Negative

  • None.
HYAC Class A owned 0 shares Beneficial ownership for each reporting person after business combination
HYAC Class A ownership percentage 0% Percent of HYAC Class A Ordinary Shares for each reporting person
Dothan Founder Shares 2,800,000 shares SPAC Class A Common Stock distributed by Sponsor to Dothan Independent at Initial Merger Effective Time
SPAC Private Warrants to Dothan 398,800 warrants SPAC Private Warrants distributed by Sponsor to Dothan Independent
PubCo Class A to Suncrete members 14,117,894 shares Company Class A Common Stock issued at Acquisition Merger Effective Time
Restricted PubCo Class A 3,481,776 shares Restricted Company Class A Common Stock issued as Rollover Equity Awards
PubCo Class B to Suncrete members 18,414,609 shares Company Class B Common Stock issued at Acquisition Merger Effective Time
PubCo Class A to Sponsor 179,227 shares Company Class A Common Stock issued to Sponsor upon conversion of SPAC promissory notes
Business Combination Agreement financial
"pursuant to that certain Business Combination Agreement, dated October 9, 2025"
A business combination agreement is a detailed contract that lays out the terms for two companies to join together—covering price, how ownership will be split, the steps needed to close the deal, and what each side promises to do or avoid before closing. For investors it matters because the agreement determines potential changes in value, control, timing, and risk exposure—think of it like the playbook for a merger that shows who wins, who pays, and what could still derail the plan.
Domestication regulatory
"Haymaker transferred by way of continuation out of its jurisdiction of incorporation from the Cayman Islands and domesticated into the State of Delaware (the "Domestication")"
Domestication is the legal process by which a company changes its official ‘legal home’ from one place to another without creating a new business entity, similar to moving a household’s registration from one city to another while keeping the same people and possessions. It matters to investors because it can alter which laws, tax rules, reporting standards and shareholder rights apply, potentially affecting costs, governance and the value or liquidity of the company’s shares.
SPAC Private Warrant financial
"each then-issued and outstanding private warrant to purchase SPAC Class A Ordinary Shares ... converted ... into one private warrant to purchase SPAC Class A Common Stock (a "SPAC Private Warrant")"
Company Class B Common Stock financial
"PubCo issued 18,414,609 shares of Company Class B Common Stock to members of Suncrete"
A&R Registration Rights Agreement regulatory
"including pursuant to registered transactions pursuant to the A&R Registration Rights Agreement"
Rollover Equity Awards financial
"3,481,776 shares of restricted Company Class A Common Stock upon the cancelation and conversion of the incentive units ... ("Rollover Equity Awards")"





G4375F108

(CUSIP Number)
Andrew R. Heyer
3024 Royal Palm Way, Suite 300-I
Palm Beach, FL, 33480
(212) 616-9600

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
04/08/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D






SCHEDULE 13D






SCHEDULE 13D






SCHEDULE 13D


Haymaker Sponsor IV LLC
Signature:/s/ Andrew R. Heyer
Name/Title:Andrew R. Heyer, Managing Member
Date:04/15/2026
Andrew R. Heyer
Signature:/s/ Andrew R. Heyer
Name/Title:Andrew R. Heyer
Date:04/15/2026
Steven Heyer
Signature:/s/ Steven J.Heyer
Name/Title:/s/ Kate Mandrell, as conservator for Steven Heyer
Date:04/15/2026

FAQ

What does HYAC’s Schedule 13D/A Amendment No. 1 disclose about ownership?

It states that Haymaker Sponsor IV LLC, Andrew R. Heyer and Steven J. Heyer now beneficially own 0 Class A Ordinary Shares of Haymaker Acquisition Corp. 4, representing 0% of the class, reflecting the impact of the completed business combination with Suncrete, Inc.

How did the HYAC and Suncrete business combination affect the SPAC shares?

At the domestication and merger steps, each SPAC Class A Ordinary Share converted into SPAC Class A Common Stock, then into PubCo Class A Common Stock. SPAC Class B shares similarly converted into PubCo Class B Common Stock, shifting equity exposure from the SPAC entity into Suncrete’s public holding company.

What new Suncrete (PubCo) shares were issued in the HYAC transaction?

At the Acquisition Merger Effective Time, PubCo issued 14,117,894 shares of Company Class A Common Stock and 18,414,609 shares of Company Class B Common Stock to Suncrete members, plus 3,481,776 restricted Company Class A shares as rollover equity awards tied to prior Suncrete incentive units.

What did the HYAC sponsor and affiliates receive in the combination?

Sponsor distributed 2,800,000 Dothan Founder Shares of SPAC Class A Common Stock and 398,800 SPAC Private Warrants to Dothan Independent. PubCo also issued 2,500,000 Company Class B shares to Dothan Independent and 179,227 Company Class A shares to the Sponsor upon conversion of SPAC promissory notes.

Do the HYAC reporting persons plan further actions regarding Suncrete (PubCo)?

They acquired their securities for investment purposes and may buy more, hold, or sell depending on business performance, market conditions and other factors. They also may discuss strategic transactions or corporate changes with management, directors or securityholders, although no specific plans are currently detailed.