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Completed · 8 Apr 2026HYAC U · NYSECIK 1970509Sponsor at IPO: Haymaker Sponsor IV LLC

Haymaker Acquisition Corp. 4

$232MTrust raised at IPO · 45% of public shares left after its last counted vote

Merged with Suncrete, Inc. · Materials and mining

  1. IPO25 Jul 2023
  2. Searching24 months
  3. Deal announcedAgreement signed
  4. Closed8 Apr 2026

Tavia Read What stands out, from the filings · snapshot 14

  1. 01

    Larger than 84% of 2023’s SPAC IPOs.

    $230M raised, against a median of $69M for the 31 SPACs that priced in 2023.

  2. 02

    55% of public shares redeemed across 2 votes.

    1 extension vote and the merger vote, counted from the SPAC’s 8-Ks. 45% of the public shares remained after the last one.

  3. 03

    Closed its merger 32 months after its IPO.

    The combined company is Suncrete, Inc.. Sector: Materials and mining.

Worked out from checked figures in snapshot 14 · no forecasts or advice

Key terms

Other 2023 SPAC IPOs →
IPO priced
25 Jul 2023
IPO closed
28 Jul 2023
Raised
$230M1
Units sold
23,000,0002
Trust raised
$232M3
Trust per unit
$10.104
Unit
1 sh + ½ warrant5
Months to complete
246
Deadline before extensions
28 Jul 2025
Over-allotment
Exercised in full

Each unit: “one Class A ordinary share and one-half of one redeemable warrant”

How it compares

Haymaker Acquisition Corp. 4 against the 31 SPACs that priced in 2023.

Raised
$230M
84% of 2023 SPACs are below it
2023 median: $69M
Trust per unit
$10.10
32% of 2023 SPACs match it
2023 median: $10.10
Months to complete
24
84% of 2023 SPACs are below it
2023 median: 12
Redeemed across its votes
55%
89% of 2023 SPACs are above it
2023 median: 95%

Trust and redemptions

  1. Extension vote · 24 Jul 2025372,101 of 23,797,600 redeemed (2%)
  2. Merger vote · 2 Apr 202612,628,150 of 23,425,499 redeemed (54%)

Public shares before each vote and the shares redeemed, as its 8-Ks (or the next 10-Q or 10-K) state them. Only votes whose redemptions were paid count.

Firms named in the prospectus

Underwriters’ counsel

Auditor

Other SPACs from Haymaker

Haymaker’s track record →

Haymaker has brought 4 SPACs to market since 1 January 2019, $1.2B in all: 3 completed, 1 searching. 3 of the 3 that reached an end completed a merger.

No SPAC named Haymaker I is in our data. It either priced before 1 January 2019, came to market under another name (SPACs are listed by their name at IPO), never came to market, or is not yet in an approved snapshot, so this record may understate the sponsor.

SPACIPORaisedStatusOutcomeMonths
Haymaker Acquisition Corp V16 Sept 2026$288MSearching——
Haymaker Acquisition Corp. 4 This SPAC25 Jul 2023$230MCompletedSuncrete, Inc.32
Haymaker Acquisition Corp. III1 Mar 2021$318MCompletedbiote Corp. (BTMD)15
Haymaker Acquisition Corp. IIIPO before 20216 Jun 2019$400MCompletedARKO Corp. (ARKO)19

Months: from the IPO to the merger’s closing or the liquidation. SPACs are grouped by sponsor when their names, or their sponsor entities, match once the legal form and series numeral are taken off.

Peers

Other 2023 SPAC IPOs with Cantor Fitzgerald & Co. as bookrunner.

SPACIPORaisedUnitStatus
Spark I Acquisition Corp29 Sept 2023$100M1 sh + ½ warrantDeal announced
Inflection Point Acquisition Corp. II24 May 2023$250M1 sh + ½ warrantCompleted
Alchemy Investments Acquisition Corp 14 May 2023$115M1 sh + ½ warrantDeal announced

Sources

  1. PFinal prospectus: 0001104659-23-084199
  2. 1Gross proceeds: 0001104659-23-094296The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $230,000,000.
  3. 2Units sold: 0001104659-23-094296consummated its initial public offering (the “IPO”) of 23,000,000 units (the “Units”), including 3,000,000 Units issued pursuant to the exercise of the underwriters’ over-allotment option in full.
  4. 3Trust raised: 0001104659-23-094296an amount of $232,300,000 from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Units was placed in a trust account
  5. 4Trust per unit: 0001104659-23-084199$202,000,000, or $232,300,000 if the underwriters’ over-allotment option is exercised in full ($10.10 per unit in either case), will be deposited into a trust account in the United States
  6. 5Unit composition: 0001104659-23-084199Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant.
  7. 6Months to complete: 0001104659-23-084199We will have 24 months from the closing of this offering, or until such earlier liquidation date as our board of directors may approve, to consummate an initial business combination.

Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.

How the figures are compiled
  • Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
  • Dated by. The date of the final prospectus.
  • Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
  • Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
  • Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
  • Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
  • Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
  • Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
  • Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
  • Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
  • Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
  • Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
  • Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
  • Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
  • Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
  • Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.

Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026

For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.