Suncrete Builds Path to Nasdaq, Eyes Sunbelt Construction Boom

DALLAS, TX – March 04, 2026 – Suncrete, a ready-mix concrete supplier, has solidified its path to the public markets, clearing a significant hurdle in its planned merger with Haymaker Acquisition Corp. 4 (NYSE: HYAC). The company announced today it has secured support from a majority of the special purpose acquisition company's (SPAC) warrantholders, a crucial step that paves the way for its debut on Nasdaq under the ticker symbol "RMIX" later this quarter.

The agreement smooths the financial complexities of the merger by allowing for the exchange of public warrants for a combination of cash and shares. This move, coupled with a recently upsized $105.5 million private investment from institutional investors, signals strong market confidence in Suncrete's strategy to dominate the booming construction markets of the U.S. Sunbelt.

Paving the Way to Public Markets

The deal's architecture reflects the increasing sophistication of the SPAC market in 2026. Haymaker will exchange each of its public warrants for $2.25 in cash and 0.075 Class A ordinary shares. This proactive measure is designed to simplify the combined company's capital structure and prevent the kind of warrant overhang that has complicated the post-merger performance of other companies that went public via SPAC in earlier years.

Bolstering the transaction is a significant Private Investment in Public Equity (PIPE), which has been increased from an initial $82.5 million to $105.5 million. This injection of capital from institutional investors not only provides the necessary funds to close the deal, especially in a market with high shareholder redemptions, but also serves as a powerful endorsement of Suncrete's business model and growth prospects.

"We are pleased to have secured support agreements with warrantholders of Haymaker representing the majority of warrants," said Ned N. Fleming, III, Executive Chairman of Suncrete. "With the expected exchange of all public warrants and the recent upsizing of our institutional investor commitments... we believe Suncrete is well positioned to enter the public markets later this quarter. This strong capital foundation provides substantial runway to execute on the Company's growth objectives."

A Concrete Strategy for the Sunbelt Boom

Suncrete's public listing is not just a financial maneuver; it is the cornerstone of an ambitious plan to capitalize on historic growth across the U.S. Sunbelt. The region is experiencing a surge in construction driven by population migration, the reshoring of manufacturing, and massive public infrastructure projects funded by federal initiatives like the Infrastructure Investment and Jobs Act (IIJA).

Headquartered in Tulsa, Oklahoma, Suncrete operates as a vertically integrated logistics and distribution platform across Oklahoma and Arkansas. The company controls its own batching plants and a dedicated fleet of mixer trucks, positioning itself as a critical partner in the construction value chain for public, commercial, and residential projects. The capital raised from its public debut is earmarked for both organic growth and a series of "accretive acquisitions" to expand its footprint.

This strategy is already in motion. In late 2025, Suncrete demonstrated its acquisitive intent by purchasing Schwarz Ready Mix, significantly expanding its presence in the Oklahoma City market. The company plans to replicate this model, acquiring smaller regional players and integrating them into its larger, more efficient operational network.

Fleming added, "We believe that Suncrete's high-performance and scalable ready-mix concrete platform is well-positioned to continue its relative market share expansion, driving organic growth while expanding to new markets through accretive acquisitions."

Modernizing a Traditional Industry

While the ready-mix concrete industry is mature and highly fragmented, Suncrete aims to differentiate itself through operational efficiency and technology. The company describes itself as a "tech-enabled dispatch infrastructure," viewing its core business as logistics rather than simple material supply. By centralizing oversight of pricing, customer relations, and fleet utilization while running a decentralized network of plants, Suncrete aims to deliver products on time and to specification more consistently than its rivals.

This modern approach is a key part of its value proposition in a sector often characterized by intense local price competition. Suncrete faces established regional competitors like APAC-Central and Eagle Redi-Mix, which have their own extensive networks in Oklahoma and Arkansas. Suncrete's success will depend on its ability to prove that its tech-centric, scalable model can deliver superior margins and service, allowing it to effectively compete and consolidate a fragmented market.

The New Era of SPAC Deals

The Suncrete-Haymaker transaction is emblematic of the current SPAC landscape, which has matured significantly since the speculative peak of 2021. Haymaker Acquisition Corp. 4 is the fourth such vehicle from an experienced sponsor team, a trend that has seen serial, reputable sponsors gain favor over first-time managers. These experienced teams are increasingly structuring deals to maximize certainty of closing.

The careful handling of the warrants and the reliance on a substantial, committed PIPE investment highlight a shift toward more fundamentally sound targets and disciplined execution. Rather than chasing speculative, pre-revenue ventures, the market is rewarding companies like Suncrete with tangible assets, existing revenue streams, and a clear, executable growth strategy tied to broad economic trends.

As Suncrete prepares for the closing of the business combination in the first quarter of 2026, it will transition from a private entity backed by SunTx Capital Partners to a publicly traded company named Suncrete, Inc. The move to the public markets is not an end in itself, but rather the beginning of a well-capitalized campaign to lay the foundations for growth across America's most dynamic economic region.