Haymaker Acquisition Corp. 4 Signs Non-Redemption Agreement with Key Shareholder Amidst Business Combination

Key Takeaways for Investors

• Non-Redemption Agreement Signed: Haymaker Acquisition Corp. 4 (“Haymaker” or “the Company”) has entered into a binding Non-Redemption Agreement with a significant shareholder (“Holder”) as of April 1, 2026.
• Business Combination in Progress: The agreement is directly related to Haymaker’s pending Business Combination with Concrete Partners Holding, LLC (“Target”), as per the Business Combination Agreement dated October 9, 2025.
• Reversal of Redemption: The Holder had previously exercised rights to redeem 250,000 Public Shares but has now agreed to reverse this action and retain those shares through the closing of the Business Combination.
• Compensation for Non-Redemption: The Holder is entitled to a cash payment, calculated as the excess of the redemption price over \$10.75 per share, multiplied by the number of shares held, provided they continue to hold and vote in favor of the transaction.
• Voting Commitment: The Holder is contractually obligated to vote all such shares in favor of the Business Combination and related proposals, and against any competing or conflicting actions.
• Transfer Restrictions: The Holder is prohibited from transferring, selling, or otherwise disposing of these shares prior to the closing date.
• Disclosure to Public: The Company will disclose the Holder’s identity, ownership, and agreement terms in SEC filings and public documents as required by law.
• Waiver of Rights in Trust Account: The Holder waives any rights or claims to proceeds in the Company’s trust account, except for their redemption rights regarding shares not covered by this agreement.
• Legal Framework: The agreement is governed by Delaware law, with disputes to be resolved in the courts of New York, and includes a waiver of the right to jury trial for both parties.
• Termination Events: The agreement automatically terminates if the Business Combination Agreement is terminated, if Haymaker is liquidated or dissolved, or by mutual written consent.

Detailed Analysis and Implications

The Non-Redemption Agreement between Haymaker and a significant shareholder is a critical development in the context of Haymaker’s pending merger with Concrete Partners Holding, LLC.

Redemption Reversal: The Holder initially sought to redeem 250,000 shares but has now reversed this decision. This move increases the certainty of capital for Haymaker, reducing the risk of excessive redemptions that could jeopardize the closing of the Business Combination.

Voting Assurance: By securing a binding agreement that these shares will be voted in favor of the Business Combination and against any competing proposals, Haymaker is significantly improving the likelihood of shareholder approval for the transaction.

Cash Incentive: The agreement provides for a direct cash payment to the Holder, calculated as the difference between the redemption price per Public Share (as paid to those redeeming) and \$10.75, multiplied by the 250,000 shares, if all conditions are met. This structure incentivizes the Holder to support the transaction without redeeming, aligning their interests with the Company’s and other shareholders seeking a successful merger.

Restrictions and Enforcement: The Holder is strictly prohibited from transferring or hedging the subject shares until the transaction closes. If the Holder breaches these terms, they are required to repurchase an equivalent number of shares at the redemption price, ensuring the Company is not disadvantaged by any Holder action.

Public Disclosure: Haymaker will be transparent about the arrangement in its SEC filings and proxy materials, giving all shareholders visibility into the terms and the identity of the supporting investor.

Waiver of Trust Account Claims: As a condition of this agreement, the Holder waives any claim to funds in the Company’s trust account except for Other Shares not covered by this agreement. This waiver is intended to prevent litigation that could delay or disrupt the closing of the business combination.

Legal Safeguards: The agreement provides for specific performance and injunctive relief, reflecting the importance of compliance by both parties. It is governed under Delaware law but requires disputes to be heard in New York courts.

Termination: The agreement will lapse if the merger is abandoned, Haymaker is dissolved, or both parties consent in writing to termination.

Shareholder Considerations and Price Sensitivity

• Reduced Redemption Risk: For investors, this agreement reduces the risk of excessive redemptions, which could threaten the completion of the Business Combination or dilute remaining shareholders’ interests. This may be positively viewed by the market and could support Haymaker’s share price.
• Alignment of Interests: The cash incentive paid for non-redemption may be seen as a necessary but potentially dilutive cost to secure key shareholder support.
• Transparency and Disclosure: Full public disclosure of this arrangement ensures that all shareholders are equally informed, potentially reducing uncertainty and speculation around the vote outcome and the stability of the deal.
• Legal Protections: The agreement’s legal enforceability and the Holder’s waiver of claims against the trust account may reduce litigation risk and improve deal certainty.

Conclusion

This Non-Redemption Agreement is a material, price-sensitive event for Haymaker Acquisition Corp. 4 shareholders. It increases the likelihood of a successful business combination with Concrete Partners Holding, LLC by securing the support of a significant investor, reducing redemption risk, and providing transparency to the market. Investors should monitor future disclosures and proxy filings for further developments and the ultimate outcome of the shareholder vote.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. The information herein is based on official filings and may be subject to change or further clarification in subsequent disclosures.

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