HYAC
Industry:
Capital Markets

DESCRIPTION

Haymaker Acquisition V is a blank check company, or special purpose acquisition company (SPAC), formed to raise capital in an initial public offering to acquire or merge with a private operating business. The company has no standalone operations or revenue. Haymaker V focuses on identifying acquisition targets across the industrial, consumer, consumer-related products and services, hospitality, and media sectors. The company's business model centers on holding offering proceeds in a trust account invested in U.S. government treasury securities while management identifies and evaluates potential target businesses. Haymaker V has a 24-month period, extendable to 27 months if a definitive transaction agreement is signed, to complete an initial business combination. If Haymaker V fails to complete an acquisition within this timeframe, the trust account liquidates and returns the held capital to public shareholders. Public shareholders also hold redemption rights, enabling them to convert their shares into their pro rata share of the trust account upon the completion of a proposed transaction. The company is led by Christopher Bradley and sponsored by an affiliate of Mistral Equity Partners.

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