Steven Heyer's SPAC Haymaker Acquisition IV withdraws $261 million IPO

Haymaker Acquisition IV, the fourth consumer-focused blank check company led by the former CEO of Starwood Hotels, withdrew its plans for an initial public offering on Tuesday. It originally filed in February 2022 to raise $261 million by offering 26.1 million units at $10, with each unit containing one share of common stock and one-third of a warrant. The company had not updated its prospectus since then.

The company was set to be led by CEO and Chairman Steven Heyer, who previously served as CEO of Starwood Hotels & Resorts Worldwide and COO of The Coca-Cola Company, and President and Director Andrew Heyer, the founder and CEO of consumer-focused private equity fund manager Mistral Equity Partners. The company had planned to target a business in the consumer and consumer-related products and services industries.

Management's previous SPACs include March 2021 IPO Haymaker Acquisition III, which merged with hormone optimization center Biote (BTMD; -58% from $10 offer price); 2019 IPO Haymaker Acquisition II, which combined with ARKO Holdings (ARKO; -8%); and 2017 IPO Haymaker Acquisition, which combined with OneSpaWorld Holdings (OSW; +6%)

The New York, NY-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol HYIVU. Cantor Fitzgerald and William Blair were set to be the joint bookrunners on the deal.