Suncrete, Inc.
For the period ended Mar 31, 2026. Filed May 15, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 15, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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ITEM 1. FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
| MARCH 31, 2026 | DECEMBER 31, 2025 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Total Current Assets | $— | $— |
| TOTAL ASSETS | $— | $— |
| LIABILITIES AND STOCKHOLDER’S DEFICIT | ||
| Current Liabilities: | ||
| Accounts payable and accrued expenses | $42,519 | $31,519 |
| Due to related party | 20,000 | — |
| TOTAL LIABILITIES | 62,519 | 31,519 |
| Commitments and Contingencies | ||
| STOCKHOLDER’S DEFICIT | ||
| Common stock, $0.0001 par value; 1,000 shares authorized, 100 issued and outstanding | 10 | 10 |
| Additional paid-in capital | — | — |
| Stock subscription receivable | (10) | (10) |
| Accumulated deficit | (62,519) | (31,519) |
| Total Stockholder’s Deficit | (62,519) | (31,519) |
| TOTAL LIABILITIES AND STOCKHOLDER’S DEFICIT | $— | $— |
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
| General and administrative expenses | $31,000 |
|---|---|
| Loss from operations | (31,000) |
| Net loss | $(31,000) |
| Weighted average shares of common stock outstanding, basic and diluted | 1,000 |
| Basic and diluted net loss per share of common stock | $(31.00) |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER’S D
EFIC
IT
| Common Stock · Share Subscription · Additional Paid-in · Accumulated · Total Stockholder’s | ||||||
|---|---|---|---|---|---|---|
| Shares | Amount | Receivable | Capital | Deficit | Deficit | |
| Balance – January 1, 2026 | 1,000 | $10 | $(10) | $— | $(31,519) | $(31,519) |
| Net loss | — | — | — | — | (31,000) | (31,000) |
| Balance – March 31, 2026 (unaudited) | 1,000 | $10 | $(10) | $— | $(62,519) | $(62,519) |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
| Cash Flows from Operating Activities: | |
|---|---|
| Net loss | $(31,000) |
| Adjustments to reconcile net loss to net cash used in operations: | |
| Changes in operating assets and liabilities: | |
| Accounts payable and accrued expenses | 11,000 |
| Due to related party | 20,000 |
| Net cash used in operating activities | — |
| Net Change in Cash | — |
| Cash – Beginning of period | — |
| Cash – End of period | $— |
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2026
NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Suncrete Inc. (the “Company”) (together with its two wholly-owned subsidiaries Haymaker Merger Sub I, Inc. and Haymaker Merger Sub II, LLC) was incorporated in Delaware on September 30, 2025. The Company was formed for the purpose of consummating the transactions contemplated in the Merger Agreement, as defined below, to facilitate the consummation of the Business Combination.
Proposed Business Combination
On April 8, 2026 (the “Closing Date”), the Company consummated its previously announced business combination (the “
Closing
”)
pursuant
to that certain Business Combination Agreement, dated October 9, 2025 (the “Business Combination Agreement”), by and among the Company, Haymaker Acquisition Corp. 4, a Cayman Islands exempted company (“Haymaker” or “SPAC”), Haymaker Merger Sub I, Inc., a Delaware corporation and a direct wholly owned subsidiary of the Company (“Merger Sub I”), Haymaker Merger Sub II, LLC, a Delaware limited liability company and direct wholly owned subsidiary of the Company (“Merger Sub II”), and Concrete Partners Holding, LLC, a Delaware limited liability company (“Suncrete”).
Liquidity
On March 31, 2026, the Company reported net loss of $31,000. As of March 31, 2026 and December 31, 2025, the Company had an aggregate cash of $0 and a working capital deficit of $62,519 and $31,519, respectively.
In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Codification (“ASC”)
205-40,
“Presentation of Financial Statements – Going Concern,” the Company does not believe it will need to raise additional funds in order to meet the expenditures required for operating its business for one year from these condensed consolidated financial statements. The closing of the Business Combination on April 8, 2026 alleviated substantial doubt.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying condensed consolidated financial statements, which include the condensed consolidated financial statements of the Company and its wholly-owned subsidiaries, have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”).
Use of Estimates
The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods.
Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from those estimates.
Cash and Cash Equivalents
The Company considers all short-term investments with an original maturity date of three months or less when purchased to be cash equivalents. The Company didnot have any cash or cash equivalents as of March 31, 2026.
Net Loss Per Share
Net loss per share is computed by dividing net loss by the weighted average number of shares outstanding for the period. For purposes of calculating diluted loss per share, the denominator includes both the weighted average number of shares outstanding during the period and the number of common share equivalents if the inclusion of such common share equivalents is dilutive.
Recent Accounting Standards
Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.
NOTE 3. RELATED PARTY TRANSACTIONS
Amounts due to related party represent formation costs paid on behalf of the Company by its stockholder. The Company’s stockholder is expected to pay the accrued expenses of the Company at the closing of the Business Combination.
During the three months ended March 31, 2026, $20,000 was paid by a related party for expenses of the Company and is reflected in the accompanying condensed consolidated balance sheets. There were no amounts due to a related party as of December 31, 2025.
NOTE 4. STOCKHOLDER’S DEFICIT
Common Stock
The Company is authorized to issue 1,000 shares of common stock with a par value of $0.0001 per share. At March 31, 2026 and December 31, 2025, there are 1,000 shares of common stock issued and outstanding. Each share of common stock entitles the holder to one vote.
NOTE 5. SEGMENT REPORTING
ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the chief operating decision market (“CODM”), or group, in deciding how to allocate resources and assess performance.
The CODM has been identified as the Chief Executive Officer, who reviews the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is onlyone reportable segment.
The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews the key metric below included in net income or loss:
| General and administrative expenses | $31,000 |
|---|
Operating expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar transaction within the business combination period. The CODM also reviews operating expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Operating expenses, as reported on the statement of operations, are the significant segment expenses provided to the CODM on a regular basis.
NOTE 6. SUBSEQUENT EVENTS
The Company evaluated subsequent events and transactions that occurred after the condensed consolidated balance sheet date up to the date that the financial statements were issued. Based upon this review, other than the below, the Company did not identify any subsequent events that would have required adjustment or disclosure in these condensed consolidated financial statements, other than as described below:
On April 8, 2026 the Company consummated its previously announced business combination pursuant to that certain Business Combination Agreement, dated October 9, 2025, by and among the Company, Haymaker Acquisition Corp. 4, a Cayman Islands exempted company, Haymaker Merger Sub I, Inc., a Delaware corporation and a direct wholly owned subsidiary of the Company, Haymaker Merger Sub II, LLC, a Delaware limited liability company and direct wholly owned subsidiary of the Company, and Concrete Partners Holding, LLC, a Delaware limited liability company.
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