Haymaker Acquisition Corp V Completes IPO, Raises $287.5M

What Happened Haymaker Acquisition Corp V (HYAC) announced it completed its initial public offering on September 18, 2026, selling 28,750,000 units at $10.00 each (including a 3,750,000-unit over-allotment) for gross proceeds of $287,500,000. Each unit contains one Class A ordinary share and one‑third of a warrant (each whole warrant exercisable to buy one share at $11.50). Concurrently, the company completed private placements of 5,333,333 warrants for $1.50 each (aggregate $8,000,000) to the Sponsor and the underwriters. The company entered the underwriting, warrant, trust, registration rights, advisory/administrative and related agreements in connection with the IPO (effective September 16, 2026); its amended and restated memorandum and articles became effective the same day.

Key Details

• IPO: 28,750,000 units at $10.00 each; gross proceeds $287,500,000 (includes $12,250,000 underwriters’ deferred discount).
• Warrant terms: public-unit warrants and private placement warrants exercisable at $11.50 per share.
• Private placement: 5,333,333 warrants sold for $8,000,000 total; Sponsor bought 4,000,000; underwriters bought 1,333,333.
• Trust: $287,500,000 (IPO proceeds plus private placement) placed in a U.S. trust account with Continental Stock Transfer & Trust Company; funds generally restricted until completion of an initial business combination or redemption if no combination within 24 months.

Why It Matters This filing signals that HYAC is now a funded special purpose acquisition company (SPAC) with proceeds held in trust to pursue an initial business combination. Retail investors should note the size of the trust (the cash available for a deal), the 24‑month timeline for completing a merger (with possible shareholder redemptions), and the existence of public and private warrants (which can dilute equity if exercised). The Sponsor’s private warrants and related agreements (underwriting, advisory/administrative arrangements, and registration rights) set the governance and economic terms that will affect shareholders and potential targets going forward.