6. Trust Account

A total of $150,000,000, which includes $147,000,000 of the net proceeds from the Public Offering, $2,652,900 from the sale of the Private Placement Warrants and $347,100 paid by the underwriters to the Company as reimbursement for certain expenses incurred in connection with the Public Offering, has been placed in the Trust Account. As of March 31, 2014, the balance in the Trust Account was $150,047,786. The Trust Account assets will be maintained until the earlier of (i) the consummation of a Business Combination or (ii) the distribution of the Trust Account.

As of March 31, 2014, investment securities in the Company’s Trust Account consist of $150,047,107 in United States Treasury Bills and $679 of cash equivalents. The Company classifies its United States Treasury and equivalent securities as held-to-maturity in accordance with FASB ASC 320, “Investments – Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheets and adjusted for the amortization or accretion of premiums or discounts.

The carrying amount, excluding interest income, gross unrealized holding gains and fair value of held-to-maturity securities at March 31, 2014 and December 31, 2013 are as follows:

				Gross Unrealized
				Holdings
Held-to-maturity:	Carrying Amount		Gains (Losses)		Fair Value

U.S. Treasury Securities – March 31, 2014	$	150,067,178	$	(20,071)	$	150,047,107

U.S. Treasury Securities – December 31, 2013		150,035,663		-		150,035,663