Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement of Cash Flows (Unaudited)

v3.19.2
Condensed Statement of Cash Flows (Unaudited)
 6 Months Ended
Jun. 30, 2019
USD ($)
Cash Flows from Operating Activities:  
Net Income $ 1,211,638
Adjustments to reconcile net Income to net cash used in operating activities:  
Interest earned on marketable securities held in Trust Account (2,002,063)
Unrealized gain on marketable securities held in Trust Account (202,788)
Deferred income taxes 42,585
Changes in operating assets and liabilities:  
Prepaid income tax (653,505)
Prepaid expenses (282,843)
Accounts payable and accrued expenses 88,138
Net cash used in operating activities (1,798,838)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (300,150,000)
Cash withdrawn from Trust Account to pay income taxes 933,000
Net cash used in investing activities (299,217,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units, net of underwriting discounts paid 294,147,000
Proceeds from sale of Private Placement Warrants 8,503,000
Advances from related party 150,000
Repayment of advances from related party (150,000)
Repayment of promissory note – related party (299,000)
Payment of offering costs (415,098)
Net cash provided by financing activities 301,935,902
Net Change in Cash 920,064
Cash – Beginning 119,136
Cash – Ending 1,039,200
Supplemental cash flow information:  
Cash paid for income taxes 933,000
Non-cash investing and financing activities:  
Initial classification of common stock subject to possible redemption 248,644,071
Change in value of common stock subject to possible redemption 39,119,230
Offering costs included in accrued offering costs 1,699
Deferred underwriting fee payable $ 10,505,250