Haymaker Acquisition Corp. III (HYACU) Stock Analysis
DELISTED 2022
What happened to Haymaker Acquisition Corp. III (HYACU) stock?
Haymaker Acquisition Corp. III (HYACU) no longer trades on public markets. It was delisted in May 2022. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Haymaker Acquisition Corp. III (HYACU) trades at $10.10. Haymaker Acquisition Corp. III is a shell company focused on merging with or acquiring a business in the consumer and consumer-related products and services sector. Market cap: $1.21B, Sector: Financial services.
Last analyzed: Mar 18, 2026Analyst Coverage for HYACU: HYACU does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates HYACU against Financial Services peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
HYACU: 2/2 scored disciplines lean bearish. Dominant signal: Moon AI bearish.
How is this calculated? →Haymaker Acquisition Corp. III (HYACU) Financial Services Profile
Haymaker Acquisition Corp. III, a special purpose acquisition company (SPAC), targets consumer and consumer-related businesses for a potential merger, acquisition, or reorganization. Incorporated in 2020, the company seeks to leverage its financial structure to bring a private entity to the public market, offering investors exposure to a new consumer-focused venture.
What Is the Investment Thesis for HYACU?
Haymaker Acquisition Corp. III presents an investment proposition centered on its ability to identify and successfully merge with a high-growth consumer-focused business. The company's success hinges on the management team's expertise in deal-making and their ability to unlock value through operational improvements and strategic initiatives at the target company. The potential upside is significant if Haymaker III can identify a compelling target with strong growth prospects and execute a seamless integration. However, the investment is also subject to risks, including the possibility of not finding a suitable target, overpaying for an acquisition, or failing to realize the anticipated synergies. The company's market capitalization stands at $1.21 billion, reflecting investor expectations for a successful business combination.
Based on FMP financials and quantitative analysis
HYACU Key Highlights
Market capitalization of $1.21B reflects investor sentiment regarding potential future acquisitions.
- Profit margin of 14.1% indicates the financial health of the acquired entity, biote Corp.
- Gross margin of 71.5% suggests a strong pricing power and efficient cost management within biote Corp.
- P/E ratio of 13.02 indicates the valuation of the acquired company, biote Corp., relative to its earnings.
- Haymaker's focus on the consumer sector aligns with growing demand for consumer-related products and services.
Who Are HYACU's Competitors?
HYACU is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AMHC Amplitude Healthcare Acquisition Corporation | $10.23 | -3.94% | $1.12B | 45 |
| ENVI Environmental Impact Acquisition Corp. | $8.82 | +2.92% | $1.34B | 44 |
| FTIV Fintech Acquisition Corp. IV | $13.28 | +0.30% | $1.20B | 46 |
| GWH ESS Tech, Inc. | $0.39 | -42.89% | $11.5M | — |
| APXTW Apex Treasury Corporation | $0.35 | -5.41% | $1.89B | 66 |
| APXT Apex Technology Acquisition Corp. | $10.12 | -0.05% | $1.89B | 64 |
| APXTU Apex Treasury Corporation | $10.26 | +0.39% | $1.89B | 64 |
| IVAN Ivanhoe Capital Acquisition Corp. | $7.68 | -2.17% | $2.69B | 64 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are HYACU's Key Strengths?
Experienced management team with a track record of successful acquisitions.
- Access to capital through the public markets.
- Focus on the consumer sector, which offers significant growth opportunities.
- Established network of relationships with potential target companies.
What Are HYACU's Weaknesses?
Dependence on identifying and completing a successful acquisition.
- Risk of overpaying for an acquisition.
- Potential for conflicts of interest between management and shareholders.
- Limited operating history.
What Could Drive HYACU Stock Higher?
Announcement of a definitive agreement to merge with or acquire a target company.
- Completion of the business combination with the target company.
- Continued growth and profitability of biote Corp.
What Are the Key Risks for HYACU?
Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Failure to identify a suitable acquisition target.
- Overpaying for an acquisition.
- Changes in market conditions that make acquisitions more difficult.
- Integration challenges with the acquired company.
- Economic downturn impacting consumer spending and biote Corp.'s performance.
What Are the Growth Opportunities for HYACU?
- Expansion through Strategic Acquisitions: Haymaker Acquisition Corp. III can pursue additional acquisitions within the consumer sector to diversify its portfolio and expand its market reach. The consumer market is vast, with segments like e-commerce, health and wellness, and sustainable products offering significant growth potential. By acquiring companies with complementary products or services, Haymaker III can create synergies and enhance its overall value proposition. The timeline for such acquisitions would depend on market conditions and the availability of suitable targets, but a strategic acquisition could be completed within the next 12-24 months.
- Operational Improvements at Biote Corp.: Haymaker Acquisition Corp. III can focus on driving operational improvements at biote Corp. to enhance its profitability and efficiency. This could involve streamlining processes, optimizing supply chain management, and implementing new technologies to improve productivity. By improving biote Corp.'s operational performance, Haymaker III can increase its overall value and generate higher returns for investors. These improvements could be implemented over the next 12-18 months, leading to tangible results in the medium term.
- Geographic Expansion of Biote Corp.: Biote Corp. can expand its geographic footprint to reach new markets and customers. This could involve entering new countries or expanding its presence in existing markets. By expanding its geographic reach, Biote Corp. can tap into new sources of revenue and diversify its customer base. The timeline for geographic expansion would depend on market research and regulatory approvals, but a strategic expansion could be launched within the next 18-24 months.
- Product Innovation and Development: Biote Corp. can invest in product innovation and development to create new products and services that meet the evolving needs of consumers. This could involve developing new formulations, exploring new delivery methods, or creating new digital platforms. By staying ahead of the curve in terms of product innovation, Biote Corp. can maintain its competitive edge and attract new customers. New product launches could be planned and executed within the next 12-18 months.
- Strategic Partnerships and Alliances: Haymaker Acquisition Corp. III can form strategic partnerships and alliances with other companies in the consumer sector to expand its reach and access new markets. This could involve partnering with retailers, distributors, or technology providers. By leveraging the strengths of its partners, Haymaker III can create new opportunities for growth and enhance its overall value proposition. Strategic partnerships could be forged within the next 6-12 months, leading to collaborative initiatives in the near future.
What Are HYACU's Competitive Advantages?
- Management team's experience and expertise in deal-making.
- Access to capital through the public markets.
- Network of relationships with potential target companies.
- Focus on the consumer sector, which offers significant growth opportunities.
What Does HYACU Do?
Haymaker Acquisition Corp. III, established in 2020 and based in New York City, operates as a special purpose acquisition company (SPAC). The company's primary objective is to identify and complete a business combination, such as a merger, capital stock exchange, asset acquisition, stock purchase, or reorganization, with one or more businesses. Haymaker III focuses its search on the consumer and consumer-related products and services industries, aiming to bring a promising private company to the public market. Unlike traditional operating companies, Haymaker III does not have any significant ongoing operations of its own. Its value lies in its ability to raise capital through an initial public offering (IPO) and then deploy that capital to acquire or merge with an existing business. The management team leverages its experience and network to identify attractive target companies, conduct due diligence, and negotiate favorable terms for a business combination. As of May 26, 2022, biote Corp. operates as a subsidiary of BioTe Holdings, LLC, indicating a completed acquisition. Haymaker III provides a streamlined path for private companies to access public markets, offering potential benefits such as increased capital, liquidity, and visibility.
What Products and Services Does HYACU Offer?
- Identifies potential target companies in the consumer and consumer-related products and services sectors.
- Raises capital through an initial public offering (IPO).
- Conducts due diligence on potential target companies.
- Negotiates terms for a business combination, such as a merger or acquisition.
- Completes a business combination with a target company.
- Manages and oversees the operations of the acquired company.
How Does HYACU Make Money?
- Raises capital through an IPO to fund future acquisitions.
- Identifies and acquires or merges with a private company.
- Generates returns for investors through the growth and profitability of the acquired company.
What Industry Does HYACU Operate In?
Haymaker Acquisition Corp. III operates within the shell company industry, specifically as a special purpose acquisition company (SPAC). The SPAC market has experienced significant growth in recent years, driven by the desire of private companies to access public markets more quickly and efficiently. However, the SPAC market is also highly competitive, with numerous SPACs vying for attractive acquisition targets. The success of a SPAC depends on its ability to identify a high-quality target, negotiate a favorable deal, and integrate the target company successfully. The consumer sector, which Haymaker III targets, is a large and diverse market with varying growth rates and competitive dynamics.
Who Are HYACU's Key Customers?
- Institutional investors who participate in the IPO.
- Shareholders who invest in the company after the IPO.
- The target company that is acquired or merged with Haymaker Acquisition Corp. III.
Company Profile
Haymaker Acquisition Corp. III operates in the Shell Companies industry within the Financial Services sector. It is headquartered in New York City, US. The company is led by CEO Steven J. Heyer. HYACU has traded publicly since 2019.
How Haymaker Acquisition Corp. III Is Valued
Haymaker Acquisition Corp. III carries a market capitalization of $1.21B, placing it in the small-cap category.
Key Financial Metrics
HYACU trades at a trailing price-to-earnings ratio of 3.78, below the Financial Services sector average of ~18x. Its free cash flow yield is -0.1%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.20 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 26.5%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Haymaker Acquisition Corp. III's Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of 33.33 places it in the safe zone, indicating low near-term bankruptcy risk.
HYACU Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in the company's future prospects, which can be a strong indicator of potential growth.
- Community sentiment has shifted positively, with discussions highlighting optimism about upcoming projects and strategic partnerships.
- Market perception has improved as investors recognize the potential of the SPAC model in identifying undervalued assets.
- Increased social media chatter indicates a growing interest in the company, reflecting a broader trend of retail investor enthusiasm.
Bear Case
- Concerns over the overall SPAC market remain, as regulatory scrutiny could impact future mergers and acquisitions negatively.
- Recent bearish sentiment from some community members points to skepticism about the company's ability to execute on its business plan effectively.
- The lack of concrete developments or announcements in the past month has left some investors feeling uncertain about the company's trajectory.
- Market volatility may deter new investors, leading to a cautious approach from potential buyers in the current environment.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
HYACU Latest News
No recent news available for HYACU.
Classification
Industry Shell CompaniesLeadership: Steven J. Heyer
CEO
Steven J. Heyer brings extensive experience in the consumer and hospitality sectors to Haymaker Acquisition Corp. III. He has held leadership positions at major companies including Starwood Hotels & Resorts Worldwide, Coca-Cola, and Young & Rubicam. His career spans marketing, operations, and strategic development, providing him with a broad understanding of the consumer landscape. Heyer's expertise lies in identifying and capitalizing on emerging trends, building strong brands, and driving revenue growth. He is known for his strategic thinking and ability to create value for shareholders.
Track Record: During his tenure at Starwood, Heyer oversaw significant growth and brand revitalization. At Coca-Cola, he played a key role in developing and implementing marketing strategies that strengthened the company's market position. His experience in the advertising industry at Young & Rubicam provides him with valuable insights into consumer behavior and brand communication. His leadership has been marked by a focus on innovation, customer satisfaction, and financial performance.
HYACU Financial Services Stock FAQ
What happened to Haymaker Acquisition Corp. III (HYACU) stock?
Haymaker Acquisition Corp. III (HYACU) no longer trades on public markets. It was delisted in May 2022. The figures below are historical and are not a current quote.
Can I still buy HYACU shares?
No. HYACU stopped trading on public markets in May 2022, so the shares are not available through a broker. Anything you see quoted for HYACU elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before HYACU stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Haymaker Acquisition Corp. III. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Haymaker Acquisition Corp. III do?
Haymaker Acquisition Corp. III is a special purpose acquisition company (SPAC) that focuses on identifying and acquiring a business in the consumer and consumer-related products and services sectors.
What do analysts say about HYACU stock?
Analyst coverage of HYACU is currently limited, given its nature as a SPAC. However, the company's success hinges on its ability to identify and acquire a high-growth target in the consumer sector. Key valuation metrics will depend on the financial performance and growth prospects of the acquired company.
What are the main risks for HYACU?
The primary risks for Haymaker Acquisition Corp. III include the failure to identify a suitable acquisition target, the risk of overpaying for an acquisition, and potential challenges in integrating the acquired company. Increased competition from other SPACs and changes in market conditions could also make acquisitions more difficult.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- AI analysis is pending, which may provide further insights.
- The information provided is based on publicly available data and may be subject to change.