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Haymaker Acquisition Corp. 4 Class A (HYAC+0.09%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Haymaker Acquisition Corp. 4 is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
As of December 31, 2024, the company had not selected any specific business combination target and had not generated any operating revenues.
The company completed its initial public offering on July 28, 2023, raising gross proceeds of $230 million by issuing 23 million units, each consisting of one Class A ordinary share and one-half of one redeemable warrant.
Simultaneously, the company completed a private placement of 797,600 units to its sponsor, generating additional gross proceeds of approximately $8 million.
The proceeds from the IPO and the private placement were placed in a trust account, which as of December 31, 2024, held approximately $249.8 million.
The company has until July 28, 2025, to complete a business combination, or it will cease operations and distribute the trust account funds to public shareholders.
Management acknowledges the substantial doubt about the company's ability to continue as a going concern if it fails to complete a business combination within the specified timeframe.
The filing also details the company's financial results, reporting a net income of $11.3 million for the year ended December 31, 2024, primarily due to interest income earned on the trust account.
The company identified no material weaknesses in its internal control over financial reporting and confirmed compliance with applicable NYSE listing standards.
The filing outlines potential risks, including the inability to complete a business combination, dependency on the trust account funds, and potential adverse effects from geopolitical events and market conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Haymaker Acquisition Corp. 4 Class A annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.