Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.20.2
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets –    
Cash $ 568,000 $ 1,180,000
Prepaid expenses and other assets 26,000 53,000
Total current assets 594,000 1,233,000
Non-current assets –    
Cash and investments held in Trust Account 302,529,000 304,035,000
Total assets 303,123,000 305,268,000
Current liabilities –    
Accounts payable 358,000 17,000
Accrued expenses 1,859,000 365,000
Accrued franchise and income taxes 8,000 225,000
Due to related party 1,958,000
Total current liabilities 4,183,000 607,000
Other liabilities –    
Deferred underwriting compensation 10,500,000 10,500,000
Total liabilities 14,683,000 11,107,000
Common stock subject to possible redemption; 28,344,013 and 28,916,141 shares, respectively, at December 31, 2019 and 2018 (at approximately $10.00 per share) 283,440,000 289,161,000
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding
Class A Common stock, $0.0001 par value, 100,000,000 authorized shares, 30,000,000 shares issued at December 31, 2019 and 2018, 961,167 and 1,083,859 shares, respectively, outstanding (excluding 28,344,013 and 28,916,141 shares, respectively, subject to possible redemption at December 31, 2019 and 2018)
Class F Common stock, $0.0001 par value, 10,000,000 authorized shares, 7,500,000 shares issued and outstanding 1,000 1,000
Additional paid-in-capital 847,000 2,234,000
Retained earnings 4,152,000 2,765,000
Total stockholders’ equity 5,000,000 5,000,000
Total liabilities and stockholders’ equity $ 303,123,000 $ 305,268,000