Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.19.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Statement of Cash Flows [Abstract]    
Net income $ 2,806,000 $ 119,000
Costs paid directly to vendors by Sponsor 6,000
Adjustments to reconcile net income to net cash used in operating activities:    
Interest income earned on Trust Account (5,559,000) (403,000)
Changes in operating assets and liabilities:    
Decrease in accounts payable (169,000) 17,000
Increase in accrued expenses 270,000 95,000
Increase in accrued franchise and income taxes 70,000 155,000
Decrease in prepaid expenses and other current assets 83,000 (12,000)
Net cash used in operating activities (2,499,000) (23,000)
Cash flows from investing activities    
Cash deposited in Trust Account (300,000,000)
Cash flows from financing activities:    
Withdrawal from Trust Account for taxes and working capital 1,927,000
Proceeds from sale of note payable to Sponsor 283,000
Proceeds from sale of Public Offering Units 300,000,000
Proceeds from sale of Private Placement Warrants, net of $474,000 of Sponsor Notes converted to warrants 8,276,000
Payment of underwriting discounts (6,000,000)
Payment of offering costs (710,000)
Payment of notes payable to Sponsor (100,000)
Net cash provided by financing activities 1,927,000 301,749,000
Net (decrease) increase in cash (572,000) 1,726,000
Cash at beginning of year 1,752,000 26,000
Cash at end of year 1,180,000 1,752,000
Cash paid for taxes 1,215,000
Supplemental disclosure of non-cash financing activities:    
Notes payable - Sponsor advances paid directly to vendors 6,000
Deferred offering costs included in accounts payable 177,000
Notes payable to Sponsor converted to Private Placement Warrants $ 474,000