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Item 1. Financial Statements

2021-11-24 compared with 2021-08-17 · 791 added, 375 removed, 183 unchanged (86% of the section changed)

2 unchanged sentences

CONDENSED BALANCE SHEETS

June 30, 2021

December 31, 2020

September 30,

Current assets:

1 unchanged sentence

Total current assets

Prepaid insurance - non-current

Deferred offering costs

Investments held in Trust Account

LIABILITIES AND STOCKHOLDERS’ EQUITY

LIABILITIES AND STOCKHOLDERS (DEFICIT) EQUITY

Current liabilities:

Accrued expenses

Franchise tax payable

4 unchanged sentences

Commitments (see Note 7)

Class A common stock, $ 0.0001 par value, subject to possible redemption;

28,805,260 and 0 shares at redemption value at June 30, 2021 and December 31, 2020, respectively

Stockholders’ Equity:

Class A common stock, subject to possible redemption;

31,750,000 and 0 shares at redemption value of

$10.00 per share at September 30, 2021 and December 31, 2020, respectively

Stockholders (Deficit) Equity:

Preferred stock, $0.0001 par value;

1,000,000 shares authorized;

0 shares issued and outstanding at June 30, 2021 and December 31, 2020

0 shares issued and outstanding at

September 30, 2021 and December 31, 2020, respectively

Class A common stock, $0.0001 par value;

200,000,000 shares authorized;

2,944,740 and 0 shares issued and outstanding (excluding 28,805,260 and 0 shares subject to possible redemption) at June 30, 2021 and December 31, 2020, respectively

0 shares issued and

outstanding (excluding 31,750,000 and 0 shares subject to possible redemption) at September 30, 2021 and December 31, 2020

Class B common stock, $0.0001 par value;

20,000,000 shares authorized;

7,937,500 (1)

and 8,625,000 (2)

shares issued and outstanding at June 30, 2021 and December 31, 2020

Additional paid-in

Retained earnings

Total Stockholders’ Equity

Total Liabilities and Stockholders’ Equity

Excludes 687,500 shares of Class B common stock that were forfeited on March 5, 2021 as a result of the exercise of the underwriter’s over-allotment option (see Note 4).

Includes an aggregate of 1,125,000 shares held by the sponsor that are subject to forfeiture to the extent that the underwriter’s over-allotment is not exercised in full.

The accompanying notes are an integral part of these financial statements.

7,937,500 (1) and 8,625,000 (2) shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively

Additional paid-in capital

Accumulated deficit

Total Stockholders (Deficit) Equity

Total Liabilities and Stockholders (Deficit) Equity

Excludes 687,500 shares of Class B common stock that were forfeited on March 5, 2021 as a result of

the exercise of the underwriters over-allotment option (see Note 4).

Includes an aggregate of up to 1,125,000 shares held by the sponsor that were subject to forfeiture to the

extent that the underwriters over-allotment was not exercised in full.

The accompanying notes are an integral

part of these unaudited financial statements.

HAYMAKER ACQUISITION CORP.

CONDENSED STATEMENTS OF OPERATIONS

June 30, 2021

Ended June 30,

Ended September 30,

September 30,

For the Period

2020 (inception)

September 30,

Operating and formation costs

Transaction costs allocated to warrant liabilities

Franchise tax expense

Loss from operations

Unrealized gain on investments held in Trust Account

Excess of private placement warrants fair value over purchase price

Transaction costs allocated to warrant liabilities

Net gain on investments held in Trust Account

Excess of private placement warrant fair value over purchase price

Change in fair value of warrant liabilities

Basic and diluted weighted average shares outstanding, Redeemable Class A Common Stock

Basic and diluted net loss per share, Redeemable Class A Common Stock

Basic and diluted weighted average shares outstanding, Non-Redeemable

Class A and Class B Common Stock

Basic and diluted net income per share, Non-Redeemable

Class A and Class B Common Stock

The accompanying notes are an integral part of these financial statements.

Basic and diluted weighted average shares outstanding, Class A common stock

Basic and diluted net income per share, Class A common stock

Basic and diluted weighted average shares outstanding Class B common stock

Basic and diluted net income per share, Class B common stock

The accompanying notes are an integral part of these unaudited financial statements.

HAYMAKER ACQUISITION CORP.

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER’S EQUITY

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT)

THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021

Stockholders

Balances, December 31, 2020

Sale of 31,750,000 units in the Initial Public Offering, net of offering costs of $ 17,938,020

Balance, December 31, 2020 (1)

Forfeiture of Class B common stock

Class A common stock subject to possible redemption

( 274,855,177

( 274,857,926

Balances, March 31, 2021

Class A common stock subject to possible redemption

Transaction costs allocated to warrant liabilities related to Initial Public Offering

Balances, June 30, 2021

The accompanying notes are an integral part of these financial statements.

Accretion of Class A common stock to redemption amount (Restated - see Note 2)

Balance, March 31, 2021 (Restated - see Note 2)

Balance, June 30, 2021 (Restated - see Note 2)

Balance, September 30, 2021

Includes an aggregate of up to 1,125,000 shares held by the sponsor that were subject to forfeiture to the

extent that the underwriters over-allotment was not exercised in full, 687,500 of which were forfeited in March 2021.

FOR THE PERIOD FROM JULY 6, 2020 (INCEPTION) THROUGH SEPTEMBER 30, 2020

Stockholders

Balance, July 6, 2020 (inception)

Sale of Class B common stock to Sponsor

Balance, September 30, 2020

Includes an aggregate of up to 1,125,000 shares held by the sponsor that were subject to forfeiture to the

extent that the underwriters over-allotment was not exercised in full, 687,500 of which were forfeited in March 2021.

The accompanying notes are an integral part of these unaudited financial statements.

HAYMAKER ACQUISITION CORP.

CONDENSED STATEMENT OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2021

CONDENSED STATEMENTS OF CASH FLOWS

Ended September

Cash Flows from Operating Activities:

Adjustments to reconcile net income to net cash used in operations:

Adjustments to reconcile net income to net cash used in operating activities:

Transaction costs allocated to warrant liabilities

Unrealized gain on investments held in Trust Account

Excess of private placement warrants fair value over purchase price

Net gain on investments held in Trust Account

Excess of private placement warrant fair value over purchase price

Change in fair value of warrant liabilities

1 unchanged sentence

Prepaid expenses

Accrued Expenses

Franchise tax payable

2 unchanged sentences

Cash deposited into Trust Account

( 317,500,000

Net cash used in investing activities

( 317,500,000

Cash Flows from Financing Activities:

Proceeds from initial public offering, net of underwriters discount paid

Proceeds from sale of Class B common stock to Sponsor

Proceeds from Sponsor note

5 unchanged sentences

Cash at beginning of period

Cash at June 30, 2021

Cash at end of period

Supplemental disclosure of noncash investing and financing activities:

1 unchanged sentence

Initial classification of warrant liabilities

Class A common stock subject to possible redemption

Reclassification of deferred offering costs to equity upon completion of the initial public offering

The accompanying notes are an integral part of these financial statements.

Accretion of Class A common stock subject to redemption to redemption value

Reclassification of deferred offering costs to equity upon completion of the initial public

The accompanying notes are an integral part of these unaudited financial statements.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS AND LIQUIDITY

SEPTEMBER 30, 2021

DESCRIPTION OF

ORGANIZATION AND BUSINESS OPERATIONS AND LIQUIDITY

Haymaker Acquisition Corp.

III (the “Company” or “Haymaker”) is a blank check company incorporated in Delaware on July 6, 2020 .

The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”).

The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination.

III (the Company or Haymaker) is a blank check

company incorporated in Delaware on July 6, 2020.

The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more

businesses (a Business Combination).

The Company is not limited to a particular industry or geographic region for purposes of consummating a

Business Combination.

The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of June 30, 2021, the Company had not commenced any operations.

All activity for the six months ended June 30, 2021 relates to the Company’s formation, the initial public offering (“Initial Public Offering”) as described below, and since the closing of the Initial Public Offering, the search for a prospective initial Business Combination.

As of September 30, 2021, the Company had not commenced any operations.

All activity for the nine months ended September 30, 2021 and for the period

from July 6, 2020 (inception) through September 30, 2020 relates to the Companys formation, the initial public offering (Initial Public Offering) as described below, and since the closing of the Initial Public Offering, the

search for a prospective initial Business Combination.

The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest.

The Company will generate non-operating

income in the form of interest income or gains on investments on the cash and investments held in a trust account from the proceeds derived from the Initial Public Offering.

The registration statement for the Company’s Initial Public Offering was declared effective on March 1, 2021.

On March 4, 2021, the Company consummated the Initial Public Offering of 30,000,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units sold, the “Public Shares”), at $ 10.00 per Unit, generating gross proceeds of $ 300,350,000 (which amount includes $ 10,500,000 of the deferred underwriting commissions, and $ 350,000 of proceeds from the sale of Private Placement Warrants in conjunction with the partial exercise of the underwriters’ over-allotment option, which is payable to them upon the closing of the over-allotment option) and the sale of the Private Placement Warrants, was placed in a trust account (the “Trust Account”).

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 5,333,333 warrants (the “Private Placement Warrants”) at a price of $ 1.50 per Private Placement Warrant in a private placement to Haymaker Sponsor III, LLC (the “Sponsor”) generating gross proceeds of $ 8,000,000 , which is described in Note 4.

The underwriters exercised the over-allotment option in part and on March 5, 2021, 1,750,000 additional Units were sold at an offering price of $ 10.00 per Unit, generating gross proceeds of $ 17,500,000 .

In connection with the exercise of the over-allotment option, on March 5, 2021, the Company sold 233,333 Private Placement Warrants (“Additional Private Placement Warrants”) to the Sponsor at a purchase price of $ 1.50 per Private Placement Warrant, generating gross proceeds of $ 350,000 .

As a result, an additional $ 17,500,000 (which amount includes $ 612,500 of the underwriters’ deferred discount) was placed in the Trust Account.

As a result of the partial exercise of the over-allotment option to purchase 1,750,000 Units, the Sponsor forfeited 687,500 Founder Shares on March 5, 2021 in order to maintain ownership of 20.0 % of issued and outstanding shares of the Company.

The Company will generate

non-operating income in the form of interest income or gains on investments on the cash and investments held in a trust account from the proceeds derived from the Initial Public Offering.

In addition, the

Company will recognize non-operating income or loss on the change in fair value of warrant liabilities.

The registration statement for the Companys

Initial Public Offering was declared effective on March 1, 2021.

On March 4, 2021, the Company consummated the Initial Public Offering of 30,000,000 units (the Units and, with respect to the shares of Class A common stock

included in the Units sold, the Public Shares), at $10.00 per Unit, generating gross proceeds of $300,350,000 (which amount includes $10,500,000 of the deferred underwriting commissions, and $350,000 of proceeds from the sale of Private

Placement Warrants in conjunction with the partial exercise of the underwriters over-allotment option, which was paid to them upon the closing of the over-allotment option) and the sale of the Private Placement Warrants, was placed in a trust

account (the Trust Account).

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 5,333,333

warrants (the Private Placement Warrants) at a price of $1.50 per Private Placement Warrant in a private placement to Haymaker Sponsor III, LLC (the Sponsor) generating gross proceeds of $8,000,000, which is described in Note

The underwriters exercised the over-allotment option in part and on March 5, 2021, 1,750,000 additional Units were sold at an offering price of

$10.00 per Unit, generating gross proceeds of $17,500,000.

In connection with the exercise of the over-allotment option, on March 5, 2021, the Company sold 233,333 Private Placement Warrants (Additional Private Placement Warrants)

to the Sponsor at a purchase price of $1.50 per Private Placement Warrant, generating gross proceeds of $350,000.

As a result, an additional $17,500,000 (which amount includes $612,500 of the underwriters deferred discount) was placed in the

Trust Account.

of the Company.

The Founder Shares forfeited by the Sponsor were cancelled by the Company.

Following the closing of the Initial Public Offering and partial exercise of the over-allotment, an amount of $ 317,500,000 ($ 10.00 per Unit) from the net proceeds of the sale of the Units and the sale of the Private Placement Warrants (as defined in Note 4) was placed in the Trust Account and will be invested in U.S.

government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7

promulgated under the Investment Company Act of 1940, as amended (the “Investment Company Act”), which invest only in direct U.S.

government treasury obligations, as determined by the Company, until the earlier of:

Following the closing of the Initial Public Offering and

partial exercise of the over-allotment, an amount of $317,500,000 ($10.00 per Unit) from the net proceeds of the sale of the Units and the sale of the Private Placement Warrants was placed in the Trust Account and is being invested in U.S.

government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with maturities of 185 days or less or in money market funds meeting certain conditions under Rule

2a-7 promulgated under the Investment Company Act of 1940, as amended (the Investment Company Act), which invest only in direct U.S.

government treasury obligations, as determined by the Company,

until the earlier of:

(i) the completion of a Business Combination and (ii) the distribution of the funds held in the Trust Account, as described below.

Transaction costs related to the issuances described above amounted to $ 17,986,366 , consisting of $ 6,350,000 of cash underwriting fees, $ 11,112,500 of deferred underwriting fees and $ 523,866 of other offering costs.

In addition, at June 30, 2021, $ 484,090 of cash was held outside of the Trust Account and is available for working capital purposes.

Transaction costs related to the issuances described above amounted to $17,986,366, consisting of $6,350,000 of cash underwriting fees, $11,112,500 of

deferred underwriting fees and $523,866 of other offering costs.

In addition, at September 30, 2021, $294,918 of cash was held outside of the Trust Account and is available for working capital purposes.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, although substantially all of the net proceeds of the Initial Public Offering are intended to be generally applied toward consummating an Initial Business Combination.

The Initial Business Combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80 % of the assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account) at the time of the agreement to enter into the Initial Business Combination.

SEPTEMBER 30, 2021

The Companys management has broad discretion with respect to the specific application of the net

proceeds of the Initial Public Offering, although substantially all of the net proceeds of the Initial Public Offering are intended to be generally applied toward consummating an Initial Business Combination.

The Initial Business Combination must

occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on income earned on the Trust

Account) at the time of the agreement to enter into the Initial Business Combination.

Furthermore, there is no assurance that the Company will be able to successfully effect an Initial Business Combination.

The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek stockholder approval of the Initial Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Initial Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to sell their Public Shares to the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable.

The decision as to whether the Company will seek stockholder approval of the Initial Business Combination or will allow stockholders to sell their Public Shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek stockholder approval, unless a vote is required by law or under NASDAQ rules.

If the Company seeks stockholder approval, it will complete its Initial Business Combination only if a majority of the outstanding shares of common stock voted are voted in favor of the Initial Business Combination.

However, in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets to be less than $ 5,000,001 either immediately prior to or upon consummation of the Initial Business Combination.

In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination.

Notwithstanding the foregoing redemption rights, if the Company seeks stockholder approval of the Initial Business Combination and the Company does not conduct redemptions in connection with the Initial Business Combination pursuant to the tender offer rules, the Company’s amended and restated certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares or more of the Public Shares, without the prior consent of the Company..

The Sponsor has agreed to waive (i) redemption rights with respect to any Founder Shares and Public Shares held in connection with the completion of an initial Business Combination, (ii) redemption rights with respect to any Founder Shares and Public Shares held in connection with a stockholder vote to approve an amendment to an amended and restated certificate of incorporation to modify the substance or timing of our obligation to allow redemption in connection with an initial Business Combination or to redeem 100 % of Public Shares if the Company has not consummated an initial Business Combination within 24 months from the closing of the Initial Public Offering or with respect to any other provisions relating to stockholders’ rights or pre-initial

Business Combination activity and (iii) rights to liquidating distributions from the Trust Account with respect to any Founder Shares held if the Company fails to complete an initial Business Combination within 24 months from the closing of the Initial Public Offering or any extended period of time that the Company may have to consummate an initial Business Combination.

The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek stockholder approval of the Initial Business

Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Initial Business Combination, for cash equal to their pro rata share of the

aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to sell

their Public Shares to the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business

days prior to the consummation of the Initial Business Combination, including interest but less taxes payable.

The decision as to whether the Company will seek stockholder approval of the Initial Business Combination or will allow stockholders to

sell their Public Shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the

Company to seek stockholder approval, unless a vote is required by law or under NASDAQ rules.

If the Company seeks stockholder approval, it will complete its Initial Business Combination only if a majority of the outstanding shares of common stock

voted are voted in favor of the Initial Business Combination.

However, in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001 either immediately prior to or upon

consummation of the Initial Business Combination.

In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business

Notwithstanding the foregoing redemption rights, if the Company seeks stockholder approval of the Initial Business Combination and the

Company does not conduct redemptions in connection with the Initial Business Combination pursuant to the tender offer rules, the Companys amended and restated certificate of incorporation provides that a public stockholder, together with any

affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a group (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more

than an aggregate of 15% of the Public Shares, without the prior consent of the Company.

The Sponsor has agreed to waive (i) redemption rights with

respect to any Founder Shares and Public Shares held in connection with the completion of an initial Business Combination, (ii) redemption rights with respect to any Founder Shares and Public Shares held in connection with a stockholder vote to

approve an amendment to an amended and restated certificate of incorporation to modify the substance or timing of our obligation to allow redemption in connection with an initial Business Combination or to redeem 100% of Public Shares if the Company

has not consummated an initial Business Combination within 24 months from the closing of the Initial Public Offering or with respect to any other provisions relating to stockholders rights or pre-initial

Initial Public Offering or any extended period of time that the Company may have to consummate an initial Business Combination.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

The Company will have until March 4, 2023 to complete a Business Combination (the “Combination Period”).

If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share

price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay taxes (less up to $ 100,000 of interest to pay dissolution expenses), divided by the number of then outst a

nding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of remaining stockholders and board of directors, liquidate and dissolve, subject, in each case, to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period.

If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable.

As a result, such shares of Class A common stock will be recorded at redemption amount and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480 - Distinguishing Liabilities from Equity

Pursuant to the Company’s amended and restated certificate of incorporation, if the Company is unable to complete the Initial Business Combination within 24 months from the closing of the Initial Public Offering, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem the Public Shares, at a per-share

price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay the Company’s franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

The Sponsor and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they agreed to waive their rights to liquidating distributions from the Trust Account with respect to any Founder Shares (as defined below) held by them if the Company fails to complete the Initial Business Combination within 24 months of the closing of the Initial Public Offering.

However, if the Sponsor or any of the Company’s directors, officers or affiliates acquire shares of Class A common stock in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete the Initial Business Combination within the prescribed time period.

SEPTEMBER 30, 2021

The Company will have until March 4, 2023 to complete a Business Combination (the Combination

than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds

held in the Trust Account and not previously released to the Company to pay taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish

public stockholders rights as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of remaining

stockholders and board of directors, liquidate and dissolve, subject, in each case, to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

There will be no redemption rights or

liquidating distributions with respect to the Companys warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period.

If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder will

have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including

interest but less taxes payable.

As a result, such shares of Class A common stock are recorded at redemption amount and classified as temporary equity since the completion of the Initial Public Offering, in accordance with the Financial

Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 480 - Distinguishing Liabilities from Equity .

The Trust Account

The proceeds held in the Trust Account will be invested only in U.S.

government treasury bills with a maturity of one hundred eighty ( 180 ) days or less or in money market funds that meet certain conditions under Rule 2a-7

under the Investment Company Act of 1940 and that invest only in direct U.S.

The proceeds held in the Trust Account

are invested only in U.S.

government treasury bills with a maturity of one hundred eighty (180) days or less or in money market funds that meet certain conditions under Rule 2a-7 under the Investment

Company Act of 1940 and that invest only in direct U.S.

government obligations.

Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust Account proceeds as described below.

Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust

Account proceeds as described below.

The remaining proceeds outside the Trust Account may be used to pay for business, legal and accounting due diligence on prospective acquisitions and continuing general and administrative expenses.

1 unchanged sentence

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

The Company’s certificate of incorporation provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of:

SEPTEMBER 30, 2021

The Companys certificate of incorporation provides that, other than the withdrawal of interest to pay

taxes, if any, none of the funds held in the Trust Account will be released until the earlier of:

(i) the completion of the Initial Business Combination;

(ii) the redemption of any Public Shares sold in the Initial Public Offering that have been properly tendered in connection with a stockholder vote to amend the Company’s certificate of incorporation to modify the substance or timing of its obl i

gation to redeem 100 % of such shares of Class A common stock if it does not complete the Initial Business Combination within 24 months from the closing of the Initial Public Offering;

and (iii) the redemption of 100 % of the shares of Class A common stock included in the Units being sold in the Initial Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Initial Public Offering (subject to the requirements of law).

The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public stockholders.

In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $ 10.00 per Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets.

This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act.

(ii) the redemption of any Public Shares sold in the Initial Public Offering that

have been properly tendered in connection with a stockholder vote to amend the Companys certificate of incorporation to modify the substance or timing of its obligation to redeem 100% of such shares of Class A common stock if it does not

complete the Initial Business Combination within 24 months from the closing of the Initial Public Offering;

and (iii) the redemption of 100% of the shares of Class A common stock included in the Units being sold in the Initial Public

Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Initial Public Offering (subject to the requirements of law).

The proceeds held in the Trust Account could become subject to the

claims of the Companys creditors, if any, which could have priority over the claims of the Companys public stockholders.

In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a

third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.00 per

Public Share or (ii) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets.

This liability will not apply with respect to any

claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Companys indemnity of the underwriter of the Initial Public Offering against certain liabilities,

including liabilities under the Securities Act.

Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims.

The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which the

Company does business (except for the Company independent registered public accountant), execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

Going Concern Consideration

As of June 30, 2021, the Company had $ 484,090 in cash held outside of the Trust Account and working capital of $ 709,775 .

As of September 30,

2021, the Company had $294,918 in cash held outside of the Trust Account and working capital surplus of $605,249.

The Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the financial statements are issued.

Management plans to address this uncertainty through the Business Combination as discussed above.

These conditions raise

substantial doubt about the Companys ability to continue as a going concern for a period of time within one year after the date that these condensed financial statements are issued.

Management plans to address this uncertainty through the

Business Combination as discussed above.

There is no assurance that the Companys plans to consummate the Business Combination will be successful or successful within the Combination Period.

The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

These condensed financial statements do not include

any adjustments that might result from the outcome of this uncertainty.

Risks and Uncertainties

Management continues to evaluate the impact of the COVID-19 pandemic on the Companys business objectives and has

concluded that while it is reasonably possible that the virus could have a negative effect on the Companys financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of

the date of these condensed financial statements.

The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

In accordance with ASC 480-10-S99, redemption provisions not solely within the

control of the Company require common stock subject to redemption to be classified outside of permanent equity.

The Company had previously classified a portion of the Class A common stock in permanent equity.

Although the Company did not

specify a maximum redemption threshold, its charter provides that currently, the Company will not redeem its Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001.

The Company restated its financial

statements to classify all Class A common stock as temporary equity and any related impact, as the threshold in its charter would not change the nature of the underlying shares as redeemable and thus would be required to be disclosed outside of

permanent equity.

The reclassification of amounts from permanent equity to temporary equity result in non-cash

financial statement corrections and will have no impact on the Companys current or previously reported cash position, operating expenses or total operating, investing or financing cash flows.

In connection with the change in presentation for

the Class A common stock subject to possible redemption, the Company has restated its earnings per share calculation to allocate income and losses shared pro rata between Class A and Class B common stock.

This presentation contemplates a Business

Combination as the most likely outcome, in which case, Class A and Class B common stock share pro rata in the income and losses of the Company.

following tables summarize the effect of the revision on each financial statement line item as of the dates, and for the periods, indicated:

June 30, 2021

Risks and Uncertainties

In December 2019, a novel strain of coronavirus was reported to have surfaced in Wuhan, China, which has and is conti n

uing to spread throughout China and other parts of the world, including the United States.

On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease (COVID-19)

a “Public Health Emergency of International Conc e

rn.” On January 31, 2020, U.S.

Health and Human Services Secretary Alex M.

Azar II declared a public health emergency for the United States to aid the U.S.

healthcare community in responding to COVID-19,

and on March 11, 2020 the World Health Organization characterized the outbreak as a “pandemic”.

outbreak has adversely affected, and other events (such as terrorist attacks, natural disasters or a significant outbreak of other infectious diseases) that could adversely affect, the economies and financial markets worldwide, and the business of any Business Combination candidate with which we seek to consummate, or consummate, a Business Combination could be materially and adversely affected.

Furthermore, we may be unable to complete a Business Combination if continued concerns relating to COVID-19

continues to restrict travel, limit the ability to have meetings with potential investors or the target company’s personnel, vendors and services providers are unavailable to negotiate and consummate a transaction in a timely manner.

The extent to which COVID-19

impacts our search for a Business Combination will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19

and the actions to contain COVID-19

or treat its impact, among others.

If the disruptions posed by COVID-19

or other events (such as terrorist attacks, natural disasters or a significant outbreak of other infectious diseases) continue for an extensive period of time, our ability to consummate a Business Combination, or the operations of a target business with which we ultimately consummate a Business Combination, may be materially adversely affected.

In addition, our ability to consummate a transaction may be dependent on the ability to raise equity and debt financing which may be impacted by COVID-19

and other events (such as terrorist attacks, natural disasters or a significant outbreak of other infectious diseases), including as a result of increased market volatility, decreased market liquidity in third-party financing being unavailable on terms acceptable to us or at all.

As Previously

Condensed Balance Sheet (unaudited)

Class A common stock subject to possible redemption;

31,750,000 shares at redemption value at

June 30, 2021

Class A common stock;

0 shares issued and outstanding (excluding 31,750,000 shares subject

to possible redemption) at June 30, 2021

Retained earnings (accumulated deficit)

Total stockholders equity (deficit)

Condensed Statement of Operations for the Three Months Ended June 30, 2021

Basic and diluted weighted average shares outstanding, Class A common stock

Basic and diluted net income per share, Class A common stock

Basic and diluted weighted average shares outstanding, Class B common stock (1)

Basic and diluted net income per share, Class B common stock

Condensed Statement of Operations for the Six Months Ended June 30, 2021

Basic and diluted weighted average shares outstanding, Class A common stock

Basic and diluted net income per share, Class A common stock

Basic and diluted weighted average shares outstanding, Class B common stock (1)

Basic and diluted net income per share, Class B common stock

Condensed Statement of Changes in Stockholders Equity (Deficit) for the Three Months

Ended June 30, 2021 (unaudited)

Class A common stock subject to possible redemption

Condensed Statement of Cash Flows for the Six Months Ended June 30, 2021 (unaudited) -

Supplemental disclosure of non-cash investing and financing activities

Class A common stock subject to possible redemption

Accretion of Class A common stock to redemption amount

Prior to the change in presentation for the Class A common stock subject to possible redemption, the Company

applied to two class method of earnings per share, allocating net income between redeemable Class A common stock and non-redeemable Class A and Class B common stock.

As such, a portion of the Class A common stock was included in the weighted average

shares outstanding of Class B common stock in the As Previously Reported balances.

March 31, 2021

As Previously

Condensed Balance Sheet (unaudited)

Accrued expenses

Class A common stock subject to possible redemption;

31,750,000 shares at redemption value at

March 31, 2021

Class A common stock;

0 shares issued and outstanding (excluding 31,750,000 shares subject

to possible redemption) at March 31, 2021

Additional paid-in capital

Accumulated deficit

Total stockholders equity (deficit)

Condensed Statement of Operations for the Three Months Ended March 31, 2021

Basic and diluted weighted average shares outstanding, Class A common stock

Basic and diluted net loss per share, Class A common stock

Basic and diluted weighted average shares outstanding, Class B common stock (1)

Basic and diluted net loss per share, Class B common stock

Condensed Statement of Changes in Stockholders Equity (Deficit) for the Three Months

Ended March 31, 2021 (unaudited)

Sale of 31,750,000 units in the Initial Public Offering, net of offering costs of

Class A common stock subject to possible redemption

Accretion of Class A common stock to redemption amount

Condensed Statement of Cash Flows for the Three Months Ended March 31, 2021 (unaudited) -

Supplemental disclosure of non-cash investing and financing activities

Class A common stock subject to possible redemption

Accretion of Class A common stock to redemption amount

Prior to the change in presentation for the Class A common stock subject to possible redemption, the Company

applied to two class method of earnings per share, allocating net income between redeemable Class A common stock and non-redeemable Class A and Class B common stock.

As such, a portion of the Class A common stock was included in the weighted average

shares outstanding of Class B common stock in the As Previously Reported balances.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

March 4, 2021

As Previously

Balance Sheet (audited)

Class A common stock subject to possible redemption;

30,000,000 shares at redemption value at

March 4, 2021

Class A common stock;

0 shares issued and outstanding (excluding 30,000,000 shares subject

to possible redemption) at March 4, 2021

Additional paid-in capital

Accumulated deficit

Total stockholders equity (deficit)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements of the Company are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.

Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows.

In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s final prospectus for its Initial Public Offering as filed with the SEC on March 3, 2021.

The interim results for the periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future periods.

The accompanying financial

statements of the Company are presented in conformity with accounting principles generally accepted in the United States of America (GAAP) and pursuant to the rules and regulations of the SEC.

Certain information or footnote disclosures

normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.

Accordingly, they do not include all the information and

footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows.

In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal

recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed financial statements should be read in conjunction with the

Companys final prospectus for its Initial Public Offering as filed with the SEC on March 3, 2021 as well as the Companys Current Reports on Form 8-K (as restated - See Note 2), as filed with

the SEC on March 5, 2021 and March 11 2021.

The accompanying condensed balance as of December 30, 2020 has been derived from the audited financial statements included in the Companys final prospectus described above.

results for the periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future periods.

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions

The Company is an emerging

growth company, as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the JOBS Act), and it may take advantage of certain exemptions from various reporting

requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act,

reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden

parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to

comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act)

are required to comply with the new or revised financial accounting standards.

The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.

The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging

growth companies but any such election to opt out is irrevocable.

The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.

This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

SEPTEMBER 30, 2021

apply to non-emerging growth companies but any such election to opt out is irrevocable.

The Company has elected not to opt out of such extended transition

period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies

adopt the new or revised standard.

This may make comparison of the Companys financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended

transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the financial statement in conformity with 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 financial statement.

The preparation of the financial statement in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of

assets, liabilities, and expenses, and disclosure of contingent assets, liabilities, and expenses at the date of the condensed financial statements.

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 statement, 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.

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 condensed 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 of three months or less when purchased to be cash equivalents.

The Company did no t have any cash equivalents as of June 30, 2021 and December 31, 2020.

The Company did not

have any cash equivalents as of September 30, 2021, December 31, 2020 or September 30, 2020.

Investments Held in Trust Account

At June 30, 2021, the assets held in the Trust Account were held in money market funds, which are invested in U.S.

At September 30, 2021, the assets held in the Trust Account were held in money market funds, which are invested in U.S.

Treasury securities.

Common Stock Subject to Possible Redemption

The Company accounts for its common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Common stock subject to mandatory redemption is classified as a liability instrument and is measured at fair value.

Conditionally redeemable common stock (including common stock that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity.

At all other times, common stock is classified as stockholders’ equity.

The Company’s common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events.

As of June 30, 2021 and December 31, 2020, 28,805,260 and no shares of Class A common stock subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet, respectively.

Companys investments held in the Trust Account are classified as trading securities.

Such trading securities are presented on the condensed balance sheet at fair value at the end of each reporting period.

Gains and losses resulting from the

change in fair value of investments held in Trust Account are included in net gain (loss) on investments held in Trust Account in the accompanying condensed statement of operations.

The estimated fair values of investments held in Trust Account are

determined using available market information.

Class A Common Stock Subject to Possible Redemption

All of the 31,750,000 shares of Class A common stock sold as part of the Units in the Initial Public Offering contain a redemption feature which allows

for the redemption of such Public Shares in connection with the Companys liquidation, if there is a stockholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Companys

second amended and restated certificate of incorporation.

In accordance with SEC and its staffs guidance on redeemable equity instruments, which has been codified in Accounting Standards Codification (ASC) 480-10-S99, redemption provisions not solely within the control of the Company require common stock subject to redemption to be classified outside of permanent equity.

Therefore, all Class A common stock has been classified outside of permanent equity.

The Company recognizes changes in redemption value immediately

as they occur and adjusts the carrying value of redeemable common stock to equal the redemption value at the end of each reporting period.

Increases or decreases in the carrying amount of redeemable common stock are affected by charges against

additional paid in capital and accumulated deficit.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

SEPTEMBER 30, 2021

As of September 30, 2021, the Class A common stock reflected in the condensed balance sheet are

reconciled in the following table:

Gross proceeds

Proceeds allocated to Public Warrants

Issuance costs allocated to Class A common stock

Accretion of carrying value to redemption value

Class A common stock subject to possible redemption

Offering Costs associated with the Initial Public Offering

The Company complies with the requirements of ASC 340-10-S99-1

and SEC Staff Accounting Bulletin Topic 5A - Expenses of Offering

Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the Initial Public Offering.

Offering costs directly attributable to the issuance of an equity contract to be classified in equity are recorded as a reduction in equity.

The Company complies with the requirements of ASC

340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A - Expenses of Offering .

Offering costs consist principally of

professional and registration fees incurred through the balance sheet date that are related to the Initial Public Offering.

Offering costs directly attributable to the issuance of an equity contract to be classified in equity are recorded as a

reduction in equity.

Offering costs for equity contracts that are classified as assets and liabilities are expensed immediately.

The Company incurred offering costs amounting to $ 17,986,366 as a result of the Initial Public Offering (consisting of $ 6,350,000 of cash underwriting discounts, $ 11,112,500 in deferred underwriting fees and $ 523,866 of other offering costs).

As such, the Company recorded $ 17,019,720 of offering costs as a reduction of equity in connection with the shares of Class A common stock included in the Units.

The Company expensed $ 966,646 of offering costs in connection with the Public Warrants included in the Units that were classified as liabilities.

The Company incurred offering costs amounting to $17,986,366 as a result of the Initial Public Offering (consisting of

$6,350,000 of cash underwriting discounts, $11,112,500 in deferred underwriting fees and $523,866 of other offering costs).

As such, the Company recorded $17,019,720 of offering costs as a reduction of equity in connection with the shares of

Class A common stock included in the Units.

The Company expensed $966,646 of offering costs in connection with the Public Warrants and Private Placement Warrants that were classified as liabilities.

Warrant Liabilities

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity

(“ASC 480”) and ASC 815.

The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification.

This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in

capital at the time of issuance.

For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter.

Changes in the estimated fair value of the warrants are recognized as a non-cash

gain or loss on the statements of operations.

The Company accounts for warrants as

either equity-classified or liability-classified instruments based on an assessment of the warrants specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity (ASC 480) and ASC

815 , Derivatives and Hedging (ASC 815).

The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants

meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Companys own common stock, among other conditions for equity classification.

This assessment, which requires the use of

professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are

required to be recorded as a component of additional paid-in capital at the time of issuance.

For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are

required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter.

Changes in the estimated fair value of the warrants are recognized as a non-cash gain or

loss on the statements of operations.

The fair value of the Public Warrants was estimated using a Monte Carlo simulation approach and the fair value of the Private Warrants was estimated using a Modified Black-Scholes model (see Note 10).

The Company complies with the accounting and reporting requirements of ASC Topic 740 - Income Taxes

, which requires an asset and liability approach to financial accounting and reporting for income taxes.

Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.

subsequent measurement of the Public Warrants as of September 30, 2021 is classified as Level 1, as such, an observable market quote in an active market under the ticker HYAC was used.

The Company complies with the accounting

and reporting requirements of ASC Topic 740 - Income Taxes , which requires an asset and liability approach to financial accounting and reporting for income taxes.

Deferred income tax assets and liabilities are computed for differences between

the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.

Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return.

For those benefits to be recognized, a tax position must be more-likely-than-not

to be sustained upon examination by taxing authorities.

ASC Topic 740 prescribes a

recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return.

For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense.

There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2021 and December 31, 2020.

The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

There were no

unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2021, December 31, 2020 and September 30, 2020.

The Company is currently not aware of any issues under review that could result in

significant payments, accruals or material deviation from its position.

The effective tax rate is less than the U.S.

statutory corporate tax rate of 21% because of the unrealized change in fair value of warrant liabilities, which was the biggest

factor in net income and is not taxable.

The Company had a loss from operations during the nine months ended September 30, 2021.

The Company is subject to income tax examinations by major taxing authorities since inception.

Net Earnings (Loss) Per Share of Common Stock

Net income per share is computed by dividing net earnings by the weighted-average number of shares of common stock outstanding during the period.

The Company’s statement of operations includes a presentation of income per share for common shares subject to possible redemption and applies the two-class

method in calculating income per share.

Net earnings per common

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

share, basic and diluted, for Class A redeemable common stock is calculated by dividing the allocable unrealized gain on investments held in the Trust Account, net of applicable franchise and income taxes, by the weighted average number of Class A redeemable common stock outstanding since original issuance.

Net income per share, basic and diluted, for Class A and Class B non-redeemable

common stock is calculated by dividing the net income, adjusted for earnings attributable to Class A redeemable common stock, by the weighted average number of Class B non-redeemable

common stock outstanding for the period.

Class B non-redeemable

common stock includes the Founder Shares as these shares do not have any redemption features and do not participate in the income earned on the Trust Account.

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):

June 30, 2021

Redeemable Class A Common Stock

Earnings allocable to Redeemable Class A Common Stock

Unrealized (loss) gain on investments held in Trust Account

Franchise tax expense

Net (loss) earnings

Weighted average Redeemable Class A Common Stock

Basic and diluted weighted average shares outstanding, Redeemable Class A Common Stock

Basic and diluted net earnings per share, Redeemable Class A Common Stock

Non-Redeemable

Class A and Class B Common Stock

Net income minus net earnings

Non-redeemable

Weighted average Non-Redeemable

Class A and Class B Common Stock

Basic and diluted weighted average shares outstanding, Non-Redeemable

Class A and Class B Common Stock

Basic and diluted net income per share, Non-Redeemable

Class A and Class B Common Stock

Net Income Per Share of Common Stock

Net income per

common share is computed by dividing net earnings by the weighted-average number of shares of common stock outstanding during the period (for all periods during which these shares were subject to forfeiture, the calculation of weighted average

shares outstanding excludes an aggregate of 1,125,000 shares held by the Sponsor that were subject to forfeiture to the extent that the underwriters over-allotment was not exercised in full).

The Company has not considered the effect of the

Warrants sold in the Initial Public Offering and private placement to purchase an aggregate of 13,504,166 shares in the calculation of diluted income per share, since the exercise of the Warrants are contingent upon the occurrence of future events

and the inclusion of such Warrants would be anti-dilutive.

The calculation does not include the accretion of Class A common stock to possible redemption amount because redemption value approximates fair value.

The following table reflects the calculation of basic and diluted net income per common share (in dollars, except share amounts):

Three Months Ended

September 30, 2021

Nine Months Ended

September 30, 2021

For the Period from July 6,

2020 (inception) Through

September 30, 2020

Basic and diluted net income per share:

Basic and diluted weighted average shares outstanding

Basic and diluted net income per share

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $ 250,000 .

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times

may exceed the Federal depository insurance coverage of $250,000.

The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

1 unchanged sentence

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

SEPTEMBER 30, 2021

Fair Value of Financial Instruments

The Company applies ASC Topic 820, Fair Value Measurement

(“ASC 820”), which establishes a framework for measuring fair value and clarifies the definition of fair value within that framework.

ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company’s principal or most advantageous market in an orderly transaction between market participants on the measurement date.

The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The Company applies ASC Topic 820, Fair Value Measurement (ASC 820), which establishes a framework for measuring fair value and clarifies

the definition of fair value within that framework.

ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer a liability in the Companys principal or most advantageous market in an

orderly transaction between market participants on the measurement date.

The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring

Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity.

Unobservable inputs reflect the entity’s own assumptions based on market data and the entity’s judgments about the assumptions that market participants would use in pricing the asset or liability and are to be developed based on the best information available in the circumstances.

The carrying amounts reflected in the balance sheet for cash, prepaid expenses and accrued offering costs approximate fair value due to their short-term nature.

Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges.

Unobservable inputs reflect

the entitys own assumptions based on market data and the entitys judgments about the assumptions that market participants would use in pricing the asset or liability and are to be developed based on the best information available in the

circumstances.

The carrying amounts reflected in the condensed balance sheet for cash, prepaid expenses, accrued expense, and franchise tax payable

approximate fair value due to their short-term nature.

Level 1 Assets and liabilities with unadjusted, quoted prices listed on active market

Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.

Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities.

Level 2 Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms,

as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.

Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities.

Recent Accounting Standards

In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40)

(“ASU 2020-06”) to simplify accounting for certain financial instruments.

ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity.

The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity.

In August 2020, the

Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-06, Debt Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entitys Own Equity (Subtopic 815-40) (ASU 2020-06) to

simplify accounting for certain financial instruments.

ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and

simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entitys own equity.

The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are

indexed to and settled in an entitys own equity.

ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if converted method for all convertible instruments.

ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021.

The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows .

Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

ASU 2020-06 is effective for the Company on January 1, 2024 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021.

The Company is currently

assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows

Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on

the Companys financial statements.

INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering, the Company sold 30,000,000 Units at a purchase price of $10.00 per Unit.

Each Unit consists of one share of the Company’s Class A common stock, $0.0001 par value, and one-fourth

of one redeemable warrant (“Redeemable Warrant”).

Each whole Redeemable Warrant is exercisable to purchase one share of Class A common stock and only whole warrants are exercisable.

Each Unit consists of one share of the

Companys Class A common stock, $0.0001 par value, and one-fourth of one redeemable warrant (Redeemable Warrant).

Each whole Redeemable Warrant is exercisable to purchase one share of

Class A common stock and only whole warrants are exercisable.

No fractional warrants will be issued upon separation of the Units and only whole warrants will trade.

The Redeemable Warrants will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Initial Public Offering.

Each whole Redeemable Warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $ 11.50 (see Note 7).

In addition, the 8,625,000 shares of Class B common stock of the Company (the “Founder Shares”) held by the Sponsor (prior to the exercise of the over-allotment) included an aggregate of up to 1,125,000 Founder Shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full, so that the Sponsor would own 20.0 % of issued and outstanding common stock.

The Founder Shares forfeited by the Sponsor were cancelled by the Company.

The Redeemable Warrants will become exercisable on the later of 30 days after

the completion of the Initial Business Combination or 12 months from the closing of the Initial Public Offering.

Each whole Redeemable Warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $11.50 (see

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

SEPTEMBER 30, 2021

In addition, the 8,625,000 shares of Class B common stock of the Company (the Founder

Shares) held by the Sponsor (prior to the exercise of the over-allotment) included an aggregate of up to 1,125,000 Founder Shares subject to forfeiture by the Sponsor to the extent that the underwriters over-allotment option was not

exercised in full, so that the Sponsor would own 20.0% of issued and outstanding common stock.

As a result of the partial exercise of the over-allotment option to purchase 1,750,000 Units, the Sponsor forfeited 687,500 Founder Shares on

March 5, 2021 in order to maintain ownership of 20.0% of issued and outstanding shares of the Company.

The Founder Shares forfeited by the Sponsor were cancelled by the Company.

PRIVATE PLACEMENT

Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 5,333,333 warrants at a price of $ 1.50 per warrant in a private placement (the “Private Placement Warrants”) ($ 8,000,000 in the aggregate.

Simultaneously with the

closing of the Initial Public Offering, the Sponsor purchased an aggregate of 5,333,333 warrants at a price of $1.50 per warrant in a private placement (the Private Placement Warrants), generating proceeds of $8,000,000 in the aggregate.

On March 4, 2021, the underwriters notified the Company of their intention to exercise the over-allotment option in part, resulting in the Sponsor paying an aggregate of $350,000 in exchange for an additional 233,333 Private Placement Warrants.

Each Private Placement Warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share.

The proceeds from the sale of the Private Placement Warrants were added to the net proceeds from the Initial Public Offering held in the Trust Account.

If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

The proceeds from the sale of the Private Placement Warrants were added to the net proceeds from the Initial Public

Offering held in the Trust Account.

to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

The excess of fair value of the Private Placement Warrants over the cash received for such warrants totaled $3,507,000, which was expensed at the date

of the Initial Public Offering.

There will be no redemption rights or liquidating distributions from the Trust Account with respect to the Private Placement Warrants.

The Sponsor and the Company’s officers and directors have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Placement Warrants until 30 days after the completion of the Initial Business Combination.

The Sponsor and the Companys officers and directors have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Placement

Warrants until 30 days after the completion of the Initial Business Combination.

RELATED PARTY TRANSACTIONS

Founder Shares

In July 2020, the Company issued an aggregate of 8,625,000 shares of Class B common stock to the Sponsor (“Founder Shares”) for an aggregate purchase price of $ 25,000 .

The Founder Shares will automatically convert into Class A common stock upon the consummation of the Initial Business Combination on a one -for- one

basis, subject to adjustments as described in Note 6.

Holders of Founder Shares may also elect to convert their shares of Class B convertible common stock into an equal number of shares of Class A common stock, subject to adjustment as provided above, at any time.

In July 2020, the Company issued an

aggregate of 8,625,000 shares of Class B common stock to the Sponsor (Founder Shares) for an aggregate purchase price of $25,000.

The Founder Shares will automatically convert into Class A common stock upon the consummation of

the Initial Business Combination on a one-for-one basis, subject to adjustments as described in Note 7.

Holders of Founder Shares may also elect to convert their shares

of Class B convertible common stock into an equal number of shares of Class A common stock, subject to adjustment as provided above, at any time.

The Initial Stockholders have agreed not to transfer, assign or sell any of their Founder Shares until the earlier to occur of:

(A) one year after the completion of the Initial Business Combination or (B) subsequent to the Initial Business Combination, (x) if the last sale price of the Class A common stock equals or exceeds $ 12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -trading

day period commencing at least 150 days after the Initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property.

Pursuant to the letter agreement, the Sponsor, officers and directors have agreed to vote any Founder Shares held by them and any Public Shares purchased during or after this offering (including in open market and privately negotiated transactions) in favor of the Initial Business Combination.

(A) one year after the

completion of the Initial Business Combination or (B) subsequent to the Initial Business Combination, (x) if the last sale price of the Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock

dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Initial Business Combination, or (y) the date on

which the Company completes a liquidation, merger, stock exchange or other similar transaction that results in all of the Companys stockholders having the right to exchange their shares of common stock for cash, securities or other property.

Pursuant to the letter agreement, the Sponsor, officers and directors have agreed to vote any Founder Shares held by them and any Public Shares purchased

during or after this offering (including in open market and privately negotiated transactions) in favor of the Initial Business Combination.

Administrative Services Agreement

The Company entered into an agreement whereby, commencing on March 4, 2021 through the earlier of the consummation of the Initial Business Combination or the Company’s liquidation, the Company will pay the Sponsor a monthly fee of $ 20,000 for office space, utilities and administrative support.

The total amounts of administrative service fees expensed for the three months and six months ended June 30, 2021 were $ 60,000 and $ 78,000 , respectively.

Upon completion of the Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Promissory Note - Related Party

On July 6, 2020, the Sponsor agreed to loan the Company an aggregate of up to $ 300,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “Note”).

This loan is non-interest

bearing and payable on the earlier of June 30, 2021 or the completion of the Initial Public Offering.

As of June 30, 2021 and December 31, 2020, the outstanding balances under the Promissory Note were $ 0 and $ 122,500 .

The Company entered

into an agreement whereby, commencing on March 4, 2021 through the earlier of the consummation of the Initial Business Combination or the Companys liquidation, the Company will pay the Sponsor a monthly fee of $20,000 for office space,

utilities and administrative support.

The total amounts of administrative service fees expensed for the three months and nine months ended September 30, 2021 were $60,000 and $138,000, respectively.

Upon completion of the Business Combination

or the Companys liquidation, the Company will cease paying these monthly fees.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

SEPTEMBER 30, 2021

Promissory Note - Related Party

On July 6, 2020, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering pursuant

to a promissory note (the Note).

This loan is non-interest bearing and payable on the earlier of June 30, 2021 or the completion of the Initial Public Offering.

The outstanding balance under

the Promissory Note of $164,000 was repaid on March 5, 2021.

Related Party Loans

In order to finance transaction costs in connection with the Initial Business Combination, the Sponsor, the Company’s officers and directors or their affiliates may, but are not obligated to, loan the Company funds from time to time or at any time, as may be required (the “Working Capital Loans”).

In order to finance transaction costs in connection with the Initial Business Combination, the Sponsor, the Companys officers and directors or their

affiliates may, but are not obligated to, loan the Company funds from time to time or at any time, as may be required (the Working Capital Loans).

Each Working Capital Loan would be evidenced by a promissory note.

The Working Capital Loans would either be paid upon consummation of the Business Combination, without interest, or, at the holder’s discretion, up to

$ 1,500,000 of the Working Capital Loans may be converted into warrants at a price of $ 1.00 per warrant that would be identical to Placement Warrants, including as to exercise price, exercisability and e x

ercise period.

The Working Capital

Loans would either be paid upon consummation of the Initial Business Combination, without interest, or, at the holders discretion, up to $1,500,000 of the Working Capital Loans may be converted into warrants at a price of $1.00 per warrant

that would be identical to Placement Warrants, including as to exercise price, exercisability and exercise period.

Registration Rights

The holders of Founder Shares, Private Placement Warrants and Warrants that may be issued upon conversion of working capital loans, if any, will be entitled to registration rights (in the case of the Founder Shares, only after conversion of such shares to shares of Class A common stock) pursuant to a registration rights agreement.

The holders of Founder Shares,

Placement Warrants and warrants that may be issued upon conversion of working capital loans, if any, will be entitled to registration rights (in the case of the Founder Shares, only after conversion of such shares to shares of Class A common

stock) pursuant to a registration rights agreement.

These holders will be entitled to certain demand and piggyback registration rights.

The holders of Founder Shares, Private Placement Warrants and Warrants that may be issued upon conversion of working capital loans may not sell these securities until the termination of the applicable lock-up

period for the securities to be registered.

The Company will bear the expenses incurred in connection with the filing of any such registration statements.

The holders of Founder Shares, Placement Warrants and Warrants that may be issued upon conversion of

working capital loans will not be able to sell these securities until the termination of the applicable lock-up period for the securities to be registered.

The Company will bear the expenses incurred in

connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters were paid a cash underwriting discount of two percent ( 2.0 %) of the gross proceeds of the Initial Public Offering and over-allotment of $ 317,500,000 , or $ 6,350,000 .

In addition, the underwriters have earned an additional three and one half percent ( 3.50 %) on $ 317,500,000 of the gross proceeds of the Initial Public Offering and over-allotment, or $ 11,112,500 (“Deferred Underwriting Commission”) that will be paid upon consummation of the Company’s Initial Business Combination.

This commitment of $ 11,112,500

has been recorded as deferred underwriting fee payable on the balance sheet as of June 30, 2021.

The underwriting agreement provides that the Deferred underwriting fee will be waived by the underwriter if the Company does not complete its Initial Business Combination.

The underwriters were paid a cash underwriting discount of two percent (2.0%) of the gross proceeds of the Initial Public Offering and over-allotment of

$317,500,000, or $6,350,000.

Underwriting Commission) that will be paid upon consummation of the Companys Initial Business Combination.

This commitment of $11,112,500 has been recorded as deferred underwriting fee payable on the balance sheet as of

September 30, 2021.

The underwriting agreement provides that the Deferred Underwriting Commission will be waived by the underwriter if the Company does not complete its Initial Business Combination.

Redeemable Warrants

Each whole Redeemable Warrant is exercisable to purchase one share of Class A common stock and only whole warrants are exercisable.

The Redeemable Warrants will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Initial Public Offering.

Each whole Redeemable Warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $ 11.50 .

Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of shares of Class A common stock.

This means that only a whole warrant may be exercised at any given time by a warrant holder.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade requiring a purchase at least three units to receive or trade a whole warrant.

The warrants will expire five years after the completion of the Initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

If the shares issuable upon exercise of the warrants are not registered under the Securities Act within 60 business days following the Initial Business Combination, the Company will be required to permit holders to exercise their warrants on a cashless basis.

However, no warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance

The Redeemable

Warrants will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Initial Public Offering.

Each whole Redeemable Warrant entitles the holder to purchase one share

of Class A common stock at an exercise price of $11.50.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, unless an exemption is available.

In the event that the conditions in the immediately preceding sentence are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless.

In no event will the Company be required to net cash settle any warrant.

In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the share of Class A common stock underlying such unit.

The Company has agreed that as soon as practicable, but in no event later than 15 business days, after the closing of the Initial Business Combination, the Company will use its reasonable best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares of Class A common stock issuable upon exercise of the warrants.

The Company will use its reasonable best efforts to cause the same to become effective within 60 business days following its Initial Business Combination and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement.

Notwithstanding the above, if the Company’s Class A common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but the Company will be required to use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

SEPTEMBER 30, 2021

Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of

shares of Class A common stock.

This means that only a whole warrant may be exercised at any given time by a warrant holder.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade requiring a

purchase at least three units to receive or trade a whole warrant.

The warrants will expire five years after the completion of the Initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

If the shares issuable upon exercise of the warrants are not registered under the Securities Act within 60 business days following the Initial Business

Combination, the Company will be required to permit holders to exercise their warrants on a cashless basis.

However, no warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders

seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, unless an exemption is available.

In the event that the conditions

in the immediately preceding sentence are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless.

In no event will the Company be

required to net cash settle any warrant.

of Class A common stock underlying such unit.

The Company has agreed that as soon as practicable, but in no event later than 15 business days, after

the closing of the Initial Business Combination, the Company will use its reasonable best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares of Class A common stock issuable upon

exercise of the warrants.

a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement.

Notwithstanding the above, if the Companys Class A common stock is at the time of any exercise of a

warrant not listed on a national securities exchange such that it satisfies the definition of a covered security under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of public warrants who

exercise their warrants to do so on a cashless basis in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration

statement, but the Company will be required to use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

Once the warrants become exercisable, the Company may call the warrants for redemption:

1 unchanged sentence

at a price of $0.01 per warrant;

upon not less than 30 days’ prior written notice of redemption (the “30-day

redemption period”) to each warrant holder;

if, and only if, the reported last sale price of the Class A common stock equals or exceeds $ 18.00 per share for any 20 trading days within a 30 -trading

day period ending three business days before the Company sends the notice of redemption to the warrant holders.

In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of the Initial Business Combination at an issue price or effective issue price of less than $ 9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60 % of the total equity proceeds, inclusive of interest earned on equity held in trust, available for the funding of the Initial Business Combination on the date of the consummation of the Initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s common stock during the 20 trading day period starting on the trading day prior to the day on which the Initial Business Combination is consummated (such price, the “Market Value”) is below $ 9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115 % of the higher of the Market Value and the Newly Issued Price, and the $ 18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180 % of the higher of the Market Value and the Newly Issued Price.

Private Placement Warrants

The Sponsor purchased an aggregate of 5,333,333 Private Placement Warrants at a price of $ 1.50 per whole warrant in a private placement that occurred simultaneously with the closing of the Initial Public Offering.

Subsequently, the Sponsor purchased $ 350,000 of Private Placement Warrants in conjunction with the partial exercise of the underwriters’ overallotment option, which is payable to them upon the closing of the overallotment option

upon not less than 30 days prior written notice of redemption (the

30-day redemption period) to each warrant holder;

if, and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share

for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders.

In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in

connection with the closing of the Initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by

the Companys board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the

Newly Issued Price), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, inclusive of interest earned on equity held in trust, available for the funding of the Initial Business

Combination on the date of the consummation of the Initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Companys common stock during the 20 trading day period starting on the trading

day prior to the day on which the Initial Business

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

(representing 233,333 warrants).

Each whole Private Placement Warrant is exercisable for one share of the Company’s Class A common stock at a price of

$ 11.50 per share.

A portion of the proceeds of the sale of Private Placement Warrants was added to the proceeds from the Initial Public Offering and held in the Trust Account, such at the time of the Company’s Initial Public Offering, $ 317,500,000

was deposited into the Trust Account (including $ 17,500,000

from the exercise of the underwriter’s over-allotment option).

If the Initial Business Combination is not completed within

24 months from the closing of the Initial Public Offering, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

The Private Placement Warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the Sponsor or its permitted transferees.

The Private Placement Warrants (including the Class A common stock issuable upon exercise of the Private Placement Warrants) will n o

t be transferable, assignable or saleable until 30 days after the completion of the Initial Business Combination and they will not be redeemable so long as they are held by the Company’s Sponsor or its permitted transferees.

Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Redeemable Warrants, including as to exercise price, exercisability and exercise period.

If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis the Redeemable Warrants.

If holders of the Private Placement Warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering their warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair market value.

The “fair market value” shall mean the average reported last sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent.

The reason that the Company has agreed that these warrants will be exercisable on a cashless basis so long as they are held by the Sponsor, or its permitted transferees is because it is not known at this time whether they will be affiliated with us following the Initial Business Combination.

If they remain affiliated with the Company, their ability to sell the Company’s securities in the open market will be significantly limited.

SEPTEMBER 30, 2021

Combination is consummated (such price, the Market Value) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of

the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

Private Placement Warrants

The Sponsor purchased an

aggregate of 5,333,333 Private Placement Warrants at a price of $1.50 per whole warrant in a private placement that occurred simultaneously with the closing of the Initial Public Offering.

Subsequently, the Sponsor purchased $350,000 of Private

Placement Warrants in conjunction with the partial exercise of the underwriters overallotment option, which is payable to them upon the closing of the overallotment option (representing 233,333 warrants).

Each whole Private Placement Warrant

is exercisable for one share of the Companys Class A common stock at a price of $11.50 per share.

The purchase price of the Private Placement Warrants was added to the proceeds from the Initial Public Offering and held in the Trust

If the Initial Business Combination is not completed within 24 months from the closing of the Initial Public Offering, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the

redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

The Private Placement Warrants will be non-redeemable and exercisable

on a cashless basis so long as they are held by the Sponsor or its permitted transferees.

The Private Placement Warrants (including the Class A

common stock issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or saleable until 30 days after the completion of the Initial Business Combination and they will not be redeemable so long as they are held

by the Companys Sponsor or its permitted transferees.

Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Redeemable Warrants, including as to exercise price, exercisability and exercise

If holders of the Private Placement Warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering

their warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the warrants, multiplied by the difference between

the exercise price of the warrants and the fair market value (defined below) by (y) the fair market value.

The fair market value shall mean the average reported last sale price of the Class A common stock for the 10

trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent.

The reason that the Company has agreed that these warrants will be exercisable on a cashless basis so long as they

are held by the Sponsor, or its permitted transferees is because it is not known at this time whether they will be affiliated with us following the Initial Business Combination.

If they remain affiliated with the Company, their ability to sell the

Companys securities in the open market will be significantly limited.

The Company expects to have policies in place that prohibit insiders from selling the Companys securities except during specific periods of time.

Even during such periods of time when insiders will be permitted to sell the Company’s securities, an insider cannot trade in the Company’s securities if he or she is in possession of material non-public

Even during such

periods of time when insiders will be permitted to sell the Companys securities, an insider cannot trade in the Companys securities if he or she is in possession of material non-public information.

Accordingly, unlike public stockholders who could sell the shares of Class A common stock issuable upon exercise of the warrants freely in the open market, the insiders could be significantly restricted from doing so.

As a result, the Company believes that allowing the holders to exercise such warrants on a cashless basis is appropriate.

The Company’s Sponsor has agreed not to transfer, assign or sell any of the Private Placement Warrants (including the Class A common stock issuable upon exercise of any of these warrants) until the date that is 30 days after the date the Company completes its Initial Business Combination.

At June 30, 2021, there were 7,937,500 Public Warrants and 5,566,666 Private Placement Warrants outstanding.

The Company accounts for the Public Warrants and Private Placement Warrants (together, the “Warrants”) in accordance with the guidance contained in ASC 815-40.

Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each warrant must be recorded as a liability.

The accounting treatment of derivative financial instruments required that the Company record the Warrants as derivative liabilities at fair value upon the closing of the Initial Public Offering.

The Public Warrants were allocated a portion of the proceeds from the issuance of the Units equal to its fair value.

The Company recognized gains in connection with changes in the fair value of warrant liabilities of

$ 13,750,541 within change in fair value of warrant liabilities in the Statements of Operations for the three months ended June 30, 2021, and $ 14,370,084 for the six months ended June 30, 2021.

The warrant liabilities are subject to re-measurement

at each balance sheet date.

With each such re-measurement,

the warrant liabilities are adjusted to current fair value, with the change in fair value recognized in the Company’s

As a result, the Company

believes that allowing the holders to exercise such warrants on a cashless basis is appropriate.

The Companys Sponsor has agreed not to transfer,

assign or sell any of the Private Placement Warrants (including the Class A common stock issuable upon exercise of any of these warrants) until the date that is 30 days after the date the Company completes its Initial Business Combination.

At September 30, 2021, there were 7,937,500 Public Warrants and 5,566,666 Private Placement Warrants outstanding.

The Company accounts for the Public

Warrants and Private Placement Warrants in accordance with the guidance contained in ASC 815-40.

Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each

warrant must be recorded as a liability.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

Statement of Operations.

The Company will reassess the classification at each balance sheet date.

SEPTEMBER 30, 2021

The accounting treatment of derivative financial instruments required that the Company record the warrants as

derivative liabilities at fair value upon the closing of the Initial Public Offering.

The Public Warrants were allocated a portion of the proceeds from the issuance of the Units equal to its fair value.

The warrant liabilities are subject to re-measurement at each balance sheet date.

With each such re-measurement, the warrant liabilities are adjusted to current fair value, with the change in fair value recognized in the Companys statement of operations.

The Company reassesses the classification at each

balance sheet date.

If the classification changes as a result of events during the period, the warrants will be reclassified as of the date of the event that causes the reclassification.

2 unchanged sentences

The Company is authorized to issue 1,000,000 shares of $0.0001 par value preferred stock.

At June 30, 2021 and December 31, 2020, there were no shares of preferred stock issued or outstanding.

A common stock

— The Company is authorized to issue up to 200,000,000 shares of Class A common stock with a par value of $ 0.0001 per share.

At September 30, 2021, December 31, 2020, and September 30, 2020, there were no shares of preferred stock issued or outstanding.

Class A common stock The Company is authorized to issue up to 200,000,000 shares of Class A

common stock with a par value of $0.0001 per share.

Holders of the Class A common stock are entitled to one vote for each share.

At June 30, 2021 and December 31, 2020, there were 2,944,740 and no shares of Class A common stock issued or outstanding, excluding 28,805,260 and no shares of Class A common stock subject to possible redemption, respectively.

B common stock

— The Company is authorized to issue up to 20,000,000 shares of Class B common stock with a par value of $ 0.0001 per share.

At September 30, 2021, December 31, 2020, and September 30, 2020, there were 31,750,000, 0 and 0

shares of Class A common stock issued or outstanding, including 31,750,000, 0 and 0 shares of Class A common stock subject to possible redemption, respectively.

Class B common stock The Company is authorized to issue up to 20,000,000 shares of Class B common

stock with a par value of $0.0001 per share.

Holders of Class B common stock are entitled to one vote for each share.

At June 30, 2021 and December 31, 2020, there were 7,937,500 and 8,625,000 shares of Class B common stock issued and outstanding, respectively.

Holders of Class A common stock and Class B common stock will vote together as a single class on all other matters submitted to a vote of shareholders except as required by law.

Prior to an initial Business Combination, holders of Class B common stock will have the right to elect all of the Company’s directors and may remove members of the board of directors for any reason.

The Class B common stock will automatically convert into shares of Class A common stock concurrently with or immediately following the consummation of an initial Business Combination, or earlier at the option of the holder, on a one-for-one

basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and subject to further adjustment.

In the case that additional shares of Class A common stock or equity-linked securities are issued or deemed issued in connection with an initial Business Combination, the number of shares of Class A common stock issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted

basis, 20 % of the total number of shares of Class A common stock outstanding after such conversion (after giving effect to any redemptions of shares of Class A common stock by public stockholders), including the total number of shares of Class A common stock issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the company in connection with or in relation to the consummation of the initial Business Combination, excluding any shares of Class A common stock or equity-linked securities or rights exercisable for or convertible into shares of Class A common stock issued, or to be issued, to any seller in the initial Business Combination and any Private Placement Warrants issued to the Sponsor, officers or directors upon conversion of working capital loans, provided that such conversion of Founder Shares will never occur on a less than one-for-one

At September 30, 2021, December 31, 2020, and September 30, 2020 there were 7,937,500, 8,625,000, and 8,625,000

shares of Class B common stock issued and outstanding, respectively.

Holders of Class A common stock and Class B common stock will vote

together as a single class on all other matters submitted to a vote of shareholders except as required by law.

Prior to an initial Business Combination, holders of Class B common stock will have the right to elect all of the Companys

directors and may remove members of the board of directors for any reason.

The Class B common stock will automatically convert into shares of

Class A common stock concurrently with or immediately following the consummation of an initial Business Combination, or earlier at the option of the holder, on a

one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and subject to further adjustment.

case that additional shares of Class A common stock or equity-linked securities are issued or deemed issued in connection with an initial Business Combination, the number of shares of Class A common stock issuable upon conversion of all

Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the total number of shares of Class A common stock outstanding after such conversion (after giving effect to any redemptions

of shares of Class A common stock by public stockholders), including the total number of shares of Class A common stock issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or

deemed issued, by the company in connection with or in relation to the consummation of the initial Business Combination, excluding any shares of Class A common stock or equity-linked securities or rights exercisable for or convertible into

shares of Class A common stock issued, or to be issued, to any seller in the initial Business Combination and any Private Placement Warrants issued to the Sponsor, officers or directors upon conversion of working capital loans, provided that

such conversion of Founder Shares will never occur on a less than one-for-one basis.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

SEPTEMBER 30, 2021

FAIR VALUE MEASUREMENTS

The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

The following table presents information about the Companys financial assets that are measured at fair value on a recurring basis at September 30,

2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Amount at Fair

June 30, 2021

September 30, 2021

Investments held in Trust Account:

7 unchanged sentences

Warrant liability Private Placement Warrants

The Company utilized a Monte Carlo simulation model to value the Public Warrants at issuance, and recognizes in the statement of operations changes in fair value in each subsequent reporting period based on trading price.

The Company utilizes a Modified Black Scholes model to value the Private Placement warrants at issuance, and each subsequent reporting period, with changes in fair value recognized in the statement of operations.

The estimated fair value of the warrant liabilities that are not based on trading price are determined using Level 3 inputs.

Inherent in a binomial options pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate and dividend yield.

The Company utilized a Monte Carlo simulation model for the initial valuation of the Public Warrants.

The subsequent

measurement of the Public Warrants as of September 30, 2021 is classified as Level 1 due to the use of an observable market quote in an active market under the ticker HYAC.

The quoted price of the Public Warrants was $0.81 per warrant as

of September 30, 2021.

The Company utilizes a Modified Black-Scholes model to value the Private Placement Warrants at each reporting period, with

changes in fair value recognized in the condensed statement of operations.

The estimated fair value of the Private Placement warrant liability is determined using Level 3 inputs.

Inherent in a binomial options pricing model are assumptions

related to expected share-price volatility, expected life, risk-free interest rate and dividend yield.

The Company estimates the volatility of its common stock based on historical volatility that matches the expected remaining life of the warrants.

The risk-free interest rate is based on the U.S.

Treasury zero-coupon

yield curve on the grant date for a maturity similar to the expected remaining life of the warrants.

The expected life of the warrants is assumed to be equivalent to their remaining contractual term.

Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants.

The expected life of the warrants is

assumed to be equivalent to their remaining contractual term.

The dividend rate is based on the historical rate, which the Company anticipates to remain at zero.

Transfers to/from Levels 1, 2, and 3 are recognized at the end of each reporting period.

The estimated fair value of the Public Warrants transferred from a Level 3 measurement to a Level 1 fair value measurement in April 2021 after the Public Warrants were separately listed and traded.

The aforementioned warrant liabilities are not subject to qualified hedge accounting.

Transfers to/from Levels 1, 2, and 3 are recognized at the end of the reporting periods.

The estimated fair value of the Public Warrants transferred from a

Level 3 measurement to a Level 1 fair value measurement in April 2021 after the Public Warrants were separately listed and traded.

HAYMAKER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2021

The following table provides the significant inputs to the Monte Carlo Simulation for the fair value of the Public Warrants:

SEPTEMBER 30, 2021

The following table provides the significant inputs to the Monte Carlo Simulation for the fair value of the

Public Warrants:

As of March 4,

7 unchanged sentences

Fair value of warrants

The following table provides the significant inputs to the Modified Black Scholes model for the fair value of the Private Placement Warrants:

The following table provides the significant inputs to the Modified Black Scholes model for the fair value of the Private

Placement Warrants:

As of March 4,

As of June 30,

As of September 30,

Probability of completing a Business Combination

3 unchanged sentences

Fair value of warrants

The following table presents the changes in the fair value of warrant liabilities:

Fair value as of December 31, 2020

The probability of completing a Business Combination is considered within the volatility implied by the traded

price of the Public Warrants which is used to value the Private Placement Warrants.

The following table presents the changes in the

fair value of warrant liabilities:

Fair value as of September 30, 2020

Initial measurement as of March 4, 2021

1 unchanged sentence

Change in valuation inputs or other assumptions

Fair value as of June 30, 2021

Fair value as of September 30, 2021

The Company recognized gains in connection with changes in the fair value of warrant liabilities of $3,241,000 within change

in fair value of warrant liabilities in the Condensed Statements of Operations for the three months ended September 30, 2021, $17,611,084 for the nine months ended September 30, 2021, and $0 for the period from July 6, 2020 (inception)

through September 30, 2020.

SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed financial statements were issued.

Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements.

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed financial statements were

Based upon this review, the Company did not identify any subsequent events that would have required adjustment to or disclosure in the condensed financial statements.

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

References in this report (the Quarterly Report) to we, us or the Company

refer to Haymaker Acquisition Corp.

III References to our management or our management team refer to our officers and directors, and references to the Sponsor refer to Haymaker Sponsor III, LLC.

The following

discussion and analysis of the Companys financial condition and results of operations should be read in conjunction with the unaudited condensed financial statements and the notes thereto contained elsewhere in this Quarterly Report.

information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties.

Note Regarding Forward-Looking Statements

This Quarterly Report includes forward-looking statements within the meaning of Section 27A

of the Securities Act of 1933, as amended (the Securities Act) and Section 21E of the Exchange Act that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those

expected and projected.

All statements, other than statements of historical fact included in this Form 10-Q including, without limitation, statements in this Managements Discussion and Analysis of

Financial Condition and Results of Operations regarding the Companys financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements.

Words such as

expect, believe, anticipate, intend, estimate, seek and variations and similar words and expressions are intended to identify such forward-looking statements.

forward-looking statements relate to future events or future performance, but reflect managements current beliefs, based on information currently available.

A number of factors could cause actual events, performance or results to differ

materially from the events, performance and results discussed in the forward-looking statements.

For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking

statements, please refer to the Risk Factors section of the Companys final prospectus for its Initial Public Offering filed with the U.S.

Securities and Exchange Commission (the SEC).

The Companys securities filings can be

accessed on the EDGAR section of the SECs website at www.sec.gov.

Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a

result of new information, future events or otherwise.

We are a blank check company incorporated on July 6, 2020 as a Delaware corporation and formed for the purpose of effectuating a merger, capital stock

exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this Quarterly Report as our initial business combination.

We intend to effectuate our

initial business combination using cash from the proceeds of the initial public offering and the private placement of the private placement warrants, the proceeds of the sale of our shares in connection with our initial business combination

(pursuant to forward purchase agreements or backstop agreements we may enter into following the consummation of the initial public offering or otherwise), shares issued to the owners of the target, debt issued to bank or other lenders or the owners

of the target, or a combination of the foregoing.

Results of Operations

We have neither engaged in any operations nor generated any operational revenues to date.

Our only activities for the nine months ended September 30, 2021

and for the period from July 6, 2020 (inception) through September 30, 2020 were organizational activities, those necessary to prepare for the initial public offering, described below, and, after our initial public offering, identifying a target

company for a business combination.

We do not expect to generate any operating revenues until after the completion of our initial business combination.

We generate non-operating income in the form of interest

income on cash and cash equivalents held after the initial public offering.

In addition, the Company will recognize non-operating income or loss on the change in fair of warrant liabilities.

We incur expenses as a result of being a public company

(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended

September 30, 2021, we had net income of $2,995,085, which resulted from by the change in fair value of warrant liabilities of $3,241,000 and an unrealized gain on marketable securities held in Trust Account in the amount of $43,200, which was

partially offset by operating and formation costs of $262,487, and franchise tax expense of $26,628.

For the nine months ended September 30, 2021,

we had net income of $12,290,535, which resulted from the change in fair value of warrant liabilities of $17,611,084, and an unrealized gain on marketable securities held in Trust Account in the amount of $48,981, which was partially offset by an

excess of private placement warrant fair value over purchase price of $3,507,000, warrant issuance costs of $966,646 associated with the Initial Public Offering, operating and formation costs of $780,815, and franchise tax expense of $115,069.

For the period from July 6, 2020 (inception) through September 30, 2020, we had net income of $0.

Liquidity and Capital Resources

As of September 30,

2021, December 31, 2020, and September 30, 2020, the Company had $294,918, $1,594, and $250 in cash held outside of the Trust Account, respectively, and a working capital balance of $605,249, and working capital deficits of $120,906, and

$117,250 respectively.

The Companys liquidity needs prior to the consummation of the Initial Public Offering were satisfied through the proceeds of

$25,000 from the sale of the Founder Shares, and a loan of up to $300,000 under an unsecured and non-interest bearing promissory note.

Subsequent to the consummation of the Initial Public Offering, the

Companys liquidity will be satisfied through the net proceeds from the private placement held outside of the Trust Account.

In addition, in order

to finance transaction costs in connection with a Business Combination, our Sponsor or an affiliate of the Sponsor, or certain of our officers and directors may, but are not obligated to, loan us funds as may be required (Working Capital

As of September 30, 2021, there were no amounts outstanding under any Working Capital Loan.

For the nine months ended

September 30, 2021, net cash used in operating activities was $1,206,215, which was due to the change in fair value of warrants of $17,611,084, changes in operating assets and liabilities of $310,331, and net gain on investments in the Trust

Account of $48,981, partially offset by our net income of $12,290,535, excess of private placement warrants fair value over purchase price in the amount of $3,507,000 and expensed offering costs of $966,646.

For the nine months ended September 30, 2021, net cash used in investing activities was $317,500,000, which was due to the amount of net proceeds from

the initial public offering being deposited to the Trust Account.

For the nine months ended September 30, 2021, net cash provided by financing

activities was $318,999,539, which was comprised of $311,150,000 in proceeds from the issuance of units in the initial public offering net of underwriters discount paid, $8,350,000 in proceeds from the issuance of warrants in a private

placement to our Sponsor, and proceeds from issuance of Sponsor Note of $41,500, offset in part by payment of $377,961 for offering costs associated with the initial public offering and repayment of the outstanding balance on the promissory note to

our Sponsor of $164,000.

For the period from July 6, 2020 (inception) through September 30, 2020, net cash provided by financing activities was $250,

which was comprised of $117,500 in proceeds from issuance of Sponsor Note, and $25,000 in proceeds from sale of Class B common stock to Sponsor, which was offset by payment of offering costs in the amount of $142,250.

We have incurred and expect to continue to incur significant costs in pursuit of our acquisition plans.

We may have insufficient funds available to operate

our business prior to our initial business combination.

Moreover, we may need to obtain additional financing either to complete our business combination or because we become obligated to redeem a significant number of public shares upon completion

of our business combination, in which case we may issue additional securities or incur debt in connection with such business combination.

Off-Balance Sheet Arrangements

We did not have any off-balance sheet arrangements as of September 30, 2021, December 31, 2020, or

September 30, 2020.

Contractual Obligations

Registration Rights

The holders of the Founder Shares,

Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans (and any Class A common stock issuable upon the exercise of the Private Placement Warrants) will have registration rights to require the Company

to register a sale of any of its securities held by them pursuant to a registration rights agreement.

The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities.

In addition, the holders have certain piggy-back registration rights with respect to registration statements filed subsequent to the completion of a Business Combination.

The Company will bear the expenses incurred in connection with the

filing of any such registration statements.

Underwriting Agreement

The Company granted the underwriters a 45-day option to purchase up to 4,500,000 additional Units to cover

over-allotments at the Initial Public Offering price, less the underwriting discounts and commissions.

On March 5, 2021 the underwriters purchased an additional 1,750,000 Units at an offering price of $10.00 per Unit, generating additional

gross proceeds of $17,500,000 to the Company.

The underwriters were paid a cash underwriting fee of $0.20 per Unit, or $6,350,000 in the aggregate.

addition, $0.35 per Unit, or $11,112,500 in the aggregate will be payable to the underwriters for deferred underwriting commissions.

The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely in the

event that the Company completes a Business Combination, subject to the terms of the underwriting agreement.

Critical Accounting Policies

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America

requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods

Actual results could materially differ from those estimates.

We have identified the following critical accounting policies:

We account for the Private Placement Warrants and the redeemable warrants (the Public Warrants) that were included in units

issued by the Company in its Initial Public Offering (collectively, the Warrants) in accordance with Accounting Standards Codification (ASC) 815-40, Derivatives and

HedgingContracts in Entitys Own Equity (ASC 815), under which the Warrants do not meet the criteria for equity classification and must be recorded as liabilities.

As the Warrants meet the definition of a derivative as

contemplated in ASC 815, the Warrants are measured at fair value at inception and at each reporting date in accordance with ASC 820, Fair Value Measurement , with changes in fair value recognized in the statement of operations in the period of

Common stock subject to possible redemption

All of the 31,750,000 shares of Class A common stock sold as part of the Units in the Initial Public Offering contain a redemption feature which allows

for the redemption of such shares of Class A common stock in connection with the Companys liquidation, if there is a stockholder vote or tender offer in connection with our business combination and in connection with certain amendments to

the Companys second amended and restated certificate of

incorporation.

Therefore, all Class A common stock has been classified outside of permanent equity.

The Company recognizes changes in redemption value immediately

as they occur and adjusts the carrying value of redeemable common stock to equal the redemption value at the end of each reporting period.

Increases or decreases in the carrying amount of redeemable common stock are affected by charges against

additional paid in capital and accumulated deficit.

Net Income Per Common Share

Net income per common share is computed by dividing net earnings by the weighted-average number of shares of common stock outstanding during the period (for

all periods during which these shares were subject to forfeiture, the calculation of weighted average shares outstanding excludes an aggregate of 1,125,000 shares held by the Sponsor that were subject to forfeiture to the extent that the

underwriters over-allotment was not exercised in full).

The Company has not considered the effect of the Warrants sold in the Initial Public Offering and private placement to purchase an aggregate of 13,504,166 shares in the calculation of

diluted income per share, since the exercise of the Warrants are contingent upon the occurrence of future events and the inclusion of such Warrants would be anti-dilutive.

The calculation does not include the accretion of Class A common stock to

possible redemption amount because redemption value approximates fair value.

Recent Accounting Standards

In August 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU)

2020-06, Debt Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entitys Own Equity (Subtopic 815-40) (ASU 2020-06) to simplify accounting for certain financial instruments.

ASU 2020-06 eliminates the current

models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entitys own equity.

The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entitys own equity.

ASU 2020-06 amends the diluted earnings

per share guidance, including the requirement to use the if-converted method for all convertible instruments.

ASU 2020-06 is effective for the Company on January 1,

2024 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021.

We are currently assessing the impact, if any, that ASU 2020-06 would have

on our financial position, results of operations or cash flows.

Management does not believe that any other recently issued, but not yet effective,

accounting standards, if currently adopted, would have a material effect on our condensed financial statements.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

This item is not applicable as we are a smaller reporting company.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements