Fair Value Measurements

3 Months Ended

Mar. 31, 2015

Fair Value Measurements

Fair Value Measurements

6. Fair Value Measurements

The Company has adopted FASB ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The adoption of FASB ASC 820 did not have an impact on the Company’s financial position or results of operations.

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset, and includes situations where there is little, if any, market activity for the asset:

			Quoted		Significant		Significant
			Prices in		Other		Other
	March 31, 2015		Active Markets		Observable Inputs		Unobservable Inputs
Description	(unaudited)		(Level 1)		(Level 2)		(Level 3)
Assets:
United States Treasury Securities	$	220,504,066	$	220,504,066	$	—	$	—

			Quoted		Significant		Significant
			Prices in		Other		Other
			Active Markets		Observable Inputs		Unobservable Inputs
Description	December 31, 2014		(Level 1)		(Level 2)		(Level 3)
Assets:
United States Treasury Securities	$	220,502,961	$	220,502,961	$	—	$	—