Wed, May 15, 8:17 PM (309 days ago)
Haymaker Acquisition Corp. 4, a blank check company, filed its quarterly report for the period ending March 31, 2024. The company has not commenced operations and is focused on identifying a target for a business combination. Key financial highlights include: - **Assets:** Total assets amounted to $240.98 million, primarily held in a trust account. - **Liabilities:** Total liabilities were $8.83 million, including deferred underwriting fees. - **Shareholders' Deficit:** The company reported a shareholders' deficit of $8.46 million. - **Net Income:** For Q1 2024, the company reported a net income of $2.87 million, driven by $3.10 million in interest income from the trust account. - **Cash Flow:** Net cash used in operating activities was $165,545 for the quarter. The company must complete a business combination by July 28, 2025, or face liquidation. The SEC's new SPAC rules, effective July 1, 2024, may impact the company's ability to complete a business combination. Liquidity concerns are noted, with substantial doubt about the company's ability to continue as a going concern.