0001213900-17-008325.txt : 20170808 0001213900-17-008325.hdr.sgml : 20170808 20170808163124 ACCESSION NUMBER: 0001213900-17-008325 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 38 CONFORMED PERIOD OF REPORT: 20170630 FILED AS OF DATE: 20170808 DATE AS OF CHANGE: 20170808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Global Partner Acquisition Corp. CENTRAL INDEX KEY: 0001643953 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-NURSING & PERSONAL CARE FACILITIES [8050] IRS NUMBER: 474078206 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-37523 FILM NUMBER: 171015240 BUSINESS ADDRESS: STREET 1: 1 ROCKEFELLER PLAZA STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 646-756-2877 MAIL ADDRESS: STREET 1: 1 ROCKEFELLER PLAZA STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10020 10-Q 1 f10q0617_globalpartneracq.htm QUARTERLY REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2017

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number: 001-37523

GLOBAL PARTNER ACQUISITION CORP.

(Exact name of registrant as specified in its charter)

Delaware

47-4078206

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification Number)

10 Allison Lane

Thornwood, NY

10594

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (646) 756-2877

Not applicable

(Former name or former address, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Date File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐ (Do not check if a smaller reporting company)	Smaller reporting company	☐
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐

As of August 8, 2017, there were 15,989,770 shares of the Company’s common stock issued and outstanding.

GLOBAL PARTNER ACQUISITION CORP.

Table of Contents

		Page
PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements	1

	Condensed Balance Sheets as of June 30, 2017 (unaudited) and December 31, 2016	1

	Condensed Statements of Operations for the three and six months ended June 30, 2017 and 2016 (unaudited)	2

	Condensed Statement of Stockholders’ Equity for the six months ended June 30, 2017 (unaudited)	3

	Condensed Statements of Cash Flows for the six months ended June 30, 2017 and 2016 (unaudited)	4

	Notes to Condensed Financial Statements (unaudited)	5

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	17

Item 4.	Controls and Procedures	17

PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	18

Item 1A.	Risk Factors	18

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	18

Item 3.	Defaults Upon Senior Securities	18

Item 4.	Mine Safety Disclosures	18

Item 5.	Other Information	18

Item 6.	Exhibits	18

Signatures		19

PART 1 – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

GLOBAL PARTNER ACQUISITION CORP.

CONDENSED BALANCE SHEETS

	June 30, 2017			December 31, 2016
ASSETS	(unaudited)
Current assets –
Cash	$	188,000		$	237,000
Prepaid expenses		33,000			41,000
Total current assets		221,000			278,000

Non-current assets -
Cash and investments held in Trust Account		155,781,000			155,543,000

Total assets	$	156,002,000		$	155,821,000

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities –
Accounts payable	$	11,000		$	199,000
Accrued liabilities		957,000			1,614,000
Accrued taxes		108,000			62,000
Notes payable and accrued interest – related party		1,240,000			-
Total current liabilities		2,316,000			1,875,000

Other liabilities –
Deferred underwriting compensation		4,658,000			4,658,000
Total liabilities		6,974,000			6,533,000

Common stock subject to possible redemption; 14,364,041 shares and 14,428,805 shares, respectively, at June 30, 2017 and December 31, 2016 (at redemption value of approximately $10.03 per share)		144,028,000			144,288,000

Commitments and contingencies

Stockholders’ equity:
Preferred stock, $0.0001 par value, 1,000,000 shares authorized, none issued or outstanding		-			-
Common stock, $0.0001 par value, 35,000,000 shares authorized, 5,042,209 shares and 4,977,445 shares, respectively, issued and outstanding (excluding 14,364,041 and 14,428,805 shares, respectively, subject to possible redemption) at June 30, 2017 and December 31, 2016		-			-
Additional paid-in-capital		7,890,000			7,630,000
Accumulated deficit		(2,890,000	)		(2,630,000	)
Total stockholders’ equity		5,000,000			5,000,000
Total liabilities and stockholders’ equity	$	156,002,000		$	155,821,000

See accompanying notes to condensed financial statements.

GLOBAL PARTNER ACQUISITION CORP.

CONDENSED STATEMENTS OF OPERATIONS

(unaudited)

	For the three months ended						For the six months ended
	June 30,						June 30,
	2017			2016			2017			2016

Revenues	$	-		$	-		$	-		$	-
General and administrative expenses		246,000			121,000			560,000			259,000
Loss from operations		(246,000	)		(121,000	)		(560,000	)		(259,000	)
Other income (expense)
Interest income on Trust Account		261,000			65,000			440,000			165,000
Interest expense on Notes payable – related party		(22,000	)		-			(40,000	)		-
Loss before income tax		(7,000	)		(56,000	)		(160,000	)		(94,000	)
Provision for income tax		(50,000	)		-			(100,000	)		-
Net loss attributable to common stock	$	(57,000	)	$	(56,000	)	$	(260,000	)	$	(94,000	)
Weighted average common shares outstanding:
Basic and diluted		5,013,000			4,752,000			5,000,000			4,750,000
Net loss per common share:
Basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.05	)	$	(0.02	)

See accompanying notes to condensed financial statements.

GLOBAL PARTNER ACQUISITION CORP.

CONDENSED STATEMENT OF STOCKHOLDERS’ EQUITY

For the six months ended June 30, 2017

(unaudited)

	Common Stock				Additional Paid-in		Accumulated			Stockholders’
	Shares		Amount		Capital		Deficit			Equity
Balances, December 31, 2016		4,977,445	$	-	$	7,630,000	$	(2,630,000	)	$	5,000,000
Change in proceeds subject to possible redemption		64,764		-		260,000		-			260,000
Net loss		-		-		-		(260,000	)		(260,000	)
Balances, June 30, 2017		5,042,209	$	-	$	7,890,000	$	(2,890,000	)	$	5,000,000

See accompanying notes to condensed financial statements.

GLOBAL PARTNER ACQUISITION CORP.

CONDENSED STATEMENTS OF CASH FLOWS

(unaudited)

	For the six months ended
	June 30,
	2017			2016
Cash flows from operating activities:
Net loss	$	(260,000	)	$	(94,000	)
Adjustments to reconcile net loss to net cash used in operations:
Decrease in prepaid expenses		8,000			26,000
Increase in accounts payable, accrued liabilities and accrued taxes, net		(759,000	)		(102,000	)
Trust income retained in Trust Account		(238,000	)		(103,000	)
Net cash used in operating activities		(1,249,000	)		(273,000	)

Cash flows from financing activities: Proceeds from notes payable – related party		1,200,000			-

Net decrease in cash		(49,000	)		(273,000	)
Cash at beginning of period		237,000			1,048,000
Cash at end of period	$	188,000		$	775,000

Supplemental disclosure of non-cash financing activities:
Non-cash interest	$	18,000		$	-

See accompanying notes to condensed financial statements.

GLOBAL PARTNER ACQUISITION CORP.
Notes to Condensed Financial Statements

NOTE 1 – DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Organization and General:

Global Partner Acquisition Corp. (the “Company”) was incorporated in Delaware on May 19, 2015. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”).

At June 30, 2017, the Company had not commenced any operations. All activity for the period from May 19, 2015 (inception) through June 30, 2017 relates to the Company’s formation and the initial public offering (“Public Offering”) described below and, subsequent to the Public Offering, locating and completing a suitable Business Combination. The Company has not and will not generate any operating revenues until after completion of the Business Combination, at the earliest. The Company generates non-operating income in the form of interest income on cash from the proceeds of the Public Offering and a concurrent private placement.

Sponsor and Financing:

The Company’s sponsor is Global Partner Sponsor I LLC, a Delaware limited liability corporation (the “Sponsor” or the “initial stockholder”). The registration statement for the Public Offering (as described in Note 4) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on July 29, 2015. The Company intends to finance an Initial Business Combination with proceeds from $155,250,000 of gross proceeds from the Public Offering, including the underwriters’ exercise of the over-allotment option in full (as described in Note 4) and approximately $6,408,000 of gross proceeds from a concurrent private placement (Note 4). Upon the closing of the Public Offering and the private placement, $155,250,000 was deposited in a trust account with Continental Stock Transfer and Trust Company acting as trustee (the “Trust Account”) as discussed below. See below as well as Notes 5, 6 and 7 regarding redemptions of common stock and the release of a portion of the funds from the Trust Account in connection with stockholder approval, subsequent to June 30, 2017, to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company must complete its Initial Business Combination.

The Trust Account:

The funds in the Trust Account may be invested only in U.S. government treasury bills with a maturity of one hundred and eighty (180) days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940 which invest only in direct U.S. government obligations. Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining proceeds of the Public Offering outside the Trust Account may be used to pay for business, legal and accounting due diligence expenses for prospective acquisition targets and continuing general and administrative expenses.

The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of the Initial Business Combination; or (ii) the redemption of 100% of the shares of common stock included in the Units (as defined below) sold in the Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Public Offering (subject to the requirements of law).

Subsequent to June 30, 2017, on August 3, 2017, the stockholders of the Company approved an amendment to the Company’s amended and restated certificate of incorporation to extend the date on which the Company must liquidate the Trust Account if the Company has not completed an initial business combination, from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), and to permit the withdrawal of funds from the Trust Account to pay stockholders who properly exercise their redemption rights in connection with the related Extension Amendment. Stockholders representing 3,416,480 shares elected to redeem their shares as further discussed in Notes 6 and 7.

Initial Business Combination:

The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Public Offering, although substantially all of the net proceeds of the Public Offering are intended to be generally applied toward consummating an Initial Business Combination with a Target Business. As used herein, a “Target Business” is one or more businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (less any deferred underwriting commissions and taxes payable on interest earned) at the time of the Company signing a definitive agreement in connection with the Initial Business Combination. There is no assurance that the Company will be able to successfully effect an Initial Business Combination.

The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek stockholder approval of the Initial Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Initial Business Combination, for cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to have their shares redeemed by the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to commencement of the tender offer, including interest but less taxes payable. The decision as to whether the Company will seek stockholder approval of the Initial Business Combination or will allow stockholders to redeem their shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek stockholder approval unless a vote is required by NASDAQ rules. If the Company seeks stockholder approval, it will complete its Initial Business Combination only if a majority of the outstanding shares of common stock voted are voted in favor of the Initial Business Combination. However, in no event will the Company redeem its Public Shares (as defined below) in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination.

If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable. As a result, such shares of common stock are recorded at redemption amount and classified as temporary equity upon the completion of the Public Offering, in accordance with Financial Accounting Standards, Board (“FASB”) Accounting Standards Update (“ASC”) 480, “Distinguishing Liabilities from Equity.”

Subsequent to June 30, 2017, on August 3, 2017, the Company’s stockholders agreed to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate an Initial Business Combination from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) or such earlier date as determined by the Board of Directors of the Company. Under the Extension Amendment, public stockholders had the right to redeem their pro rata portion of the funds in the Trust Account and stockholders representing 3,416,480 shares elected to redeem their shares as further discussed in Notes 6 and 7.

Accordingly, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete the Initial Business Combination. See Liquidation and Going Concern below.

Liquidation and Going Concern:

As noted in Initial Business Combination above, subsequent to June 30, 2017, on August 3, 2017, pursuant to the Extension Amendment, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete an Initial Business Combination. If the Company does not complete an Initial Business Combination by that date, the Company will (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public shares of common stock for a per share pro rata portion of the Trust Account, including interest, but less taxes payable (less up to $50,000 of such net interest to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its creditors and remaining stockholders, as part of its plan of dissolution and liquidation. The initial stockholders have entered into letter agreements with the Company, pursuant to which they have waived their rights to participate in any redemption with respect to their initial shares; however, if the Sponsor or any of the Company’s officers, directors or affiliates acquire shares of common stock in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company’s redemption or liquidation in the event the Company does not complete the Initial Business Combination within the required time period.

This mandatory liquidation and subsequent dissolution raises substantial doubt about the Company's ability to continue as a going concern at June 30, 2017. No adjustments have been made to the carrying amounts of assets or liabilities as of such date should the Company be required to liquidate after November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for an Initial Business Combination by November 6, 2017).

In the event of liquidation, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per unit in the Public Offering.

At June 30, 2017, the Company had current liabilities of approximately $2,316,000 and negative working capital of approximately $2,095,000. Of these amounts, approximately $108,000 represents accrued taxes (which can be paid with interest earned from the Trust Account), approximately $1,240,000 is payable to our Sponsor upon the consummation of an Initial Business Combination (see Note 5), approximately $50,000 represents unpaid administrative fees payable to our Sponsor and approximately $918,000 largely represents amounts owed to professionals, consultants, advisors and others for their services in connection with a terminated Initial Business Combination. Funds in the Trust Account are not generally available to pay professionals, consultants, advisors and others absent an Initial Business Combination and the majority of such parties have agreed to waive any claims against the Trust Account. The Company believes that such professionals, consultants, advisors (excluding our independent registered public accounting firm) and others will continue assisting the Company with completing the Initial Business Combination and defer a portion of their fees until such completion or on a contingency basis. Additionally, the Company has had discussions with members of our Sponsor about providing up to $1.0 million of additional financing in the form of loans or advances to fund expenses in connection with the consummation of an Initial Business Combination, but there are no agreements for such financing currently in place. Further, the Company continues to generate interest income that is available to pay taxes. As such, the Company believes that it has sufficient working capital at June 30, 2017 (assuming the subsequent receipt of the additional funding from the Sponsor which is not currently in place) to fund its operations until completion of its Initial Business Combination or, if necessary, through November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017).

NOTE 2 – BUSINESS COMBINATION – AGREEMENT AND TERMINATION

On January 11, 2017, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Sequel Acquisition, LLC (the “MergerSub”), a wholly-owned subsidiary of the Company, Sequel Youth and Family Services, LLC (“Sequel”) and other parties named thereto. Pursuant to the Merger Agreement, the Company agreed to acquire the Sequel business through an equity purchase and a merger of MergerSub with and into Sequel, with Sequel being the survivor in the merger (the “Business Combination”).

On May 19, 2017, the Company received notice from Sequel that Sequel terminated the Merger Agreement. Sequel’s termination was as a result of the transactions contemplated by the Merger Agreement not being completed on or prior to May 15, 2017 as required. Material terms of the Merger Agreement are set forth in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 18, 2017.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation:

The accompanying interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”), and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position as of June 30, 2017 and December 31, 2016, and the results of operations and cash flows for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year.

The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC. All dollar amounts are rounded to the nearest thousand dollars.

Emerging Growth Company:

Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised accounting standard at the time private companies adopt the new or revised standard.

Net Loss Per Common Share:

Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period, plus to the extent dilutive, the incremental number of shares of common stock to settle warrants, as calculated using the treasury stock method. At June 30, 2017 and 2016, the Company had outstanding warrants to purchase 14,170,000 shares of common stock. For all periods presented, these shares were excluded from the calculation of diluted loss per share of common stock because their inclusion would have been anti-dilutive. As a result, diluted loss per common share is the same as basic loss per common share for all periods presented.

Concentration of Credit Risk:

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

Financial Instruments:

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the financial statements.

Use of Estimates:

The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

Income Taxes:

The Company follows the asset and liability method of accounting for income taxes under FASB ASC, 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. At June 30, 2017 and December 31, 2016, the Company has a deferred tax asset of approximately $350,000 and $225,000, respectively, primarily related to start-up costs. Management has determined that a full valuation allowance of the deferred tax asset is appropriate at this time. The Company has excluded approximately $2.9 million of business combination related costs from this calculation due to the uncertainty of tax deductibility after the Initial Business Combination.

FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of June 30, 2017 or December 31, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2017 or December 31, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities.

Redeemable Common Stock:

All of the 15,525,000 common shares sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of common shares under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of an entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock shall be affected by charges against additional paid-in capital.

Accordingly, at June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, of the 15,525,000 Public Shares were classified outside of permanent equity at their redemption value.

Subsequent to June 30, 2017 on August 3, 2017 in connection with stockholder approval of the Extension Amendment, stockholders representing 3,416,480 shares elected to redeem their shares as discussed further in Notes 6 and 7.

Recent Accounting Pronouncements:

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

NOTE 4 – PUBLIC OFFERING

On August 4, 2015, the Company closed the Public Offering for the sale of 15,525,000 Units at a price of $10.00 per unit (the “Units”), including the full exercise of the underwriters’ over-allotment option yielding gross proceeds of $155,250,000. Each Unit consists of one share of the Company’s common stock, $0.0001 par value and one redeemable common stock purchase warrant (the “Warrants”). Each Warrant entitles the holder to purchase one-half of one share of common stock at a price of $5.75. No fractional shares will be issued upon exercise of the Warrants. If, upon exercise of the Warrants, a holder would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number the number of shares of common stock to be issued to the warrant holder. Each Warrant will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Public Offering and will expire five years after the completion of the Initial Business Combination or earlier upon redemption or liquidation. However, if the Company does not complete the Initial Business Combination on or prior to the period allotted to complete the Initial Business Combination (November 6, 2017 or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), the Warrants will expire at the end of such period. The Company has agreed to use its best efforts following the completion of the Initial Business Combination to file a new registration statement under the Securities Act, to cover the shares of common stock issuable upon the exercise of the warrants. If the Company is unable to deliver registered shares of common stock to the holder upon exercise of the Warrants issued as part of the 15,525,000 Units during the exercise period, there will be no net cash settlement of these Warrants and the Warrants will expire worthless, unless they are exercised on a cashless basis in the circumstances described in the warrant agreement. Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the last sale price of the Company’s shares of common stock equals or exceeds $24.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Warrant holders.

The Company paid an underwriting discount of 3% of the gross proceeds of the Public Offering to the underwriters at the closing of the Public Offering (approximately $4,658,000), with an additional fee (the “Deferred Discount”) of 3% of the gross proceeds payable upon the Company’s completion of the Initial Business Combination. The Deferred Discount will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes the Initial Business Combination.

In addition, on August 4, 2015, the Sponsor paid the Company approximately $6,408,000 in a private placement for the purchase of 12,815,000 warrants at a price of $0.50 per warrant (the “Private Placement Warrants”) - see also Note 5.

NOTE 5 – RELATED PARTY TRANSACTIONS

Founder Shares:

In May 2015, the Sponsor purchased 3,881,250 shares of common stock (the “Founder Shares”) for $25,000, or approximately $0.006 per share. The Founder Shares are identical to the common stock included in the Units sold in the Public Offering except that the Founder Shares are subject to certain transfer restrictions as described in more detail below. The Sponsor agreed to forfeit up to 506,250 Founder Shares to the extent that the over-allotment option was not exercised in full by the underwriters so that the initial stockholder would own 20.0% of the Company’s issued and outstanding shares after the Public Offering. As described above, the underwriters exercised their over-allotment option in full and therefore none of the Founder Shares were forfeited.

The Company’s initial stockholder has agreed not to transfer, assign or sell any of its Founder Shares until the earlier of (A) one year after the completion of the Initial Business Combination, or earlier if, subsequent to the Initial Business Combination, the last sale price of the Company’s common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Initial Business Combination or (B) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction after the Initial Business Combination that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property.

Private Placement Warrants;

Upon the closing of the Public Offering on August 4, 2015, the Sponsor paid the Company approximately $6,408,000 in a private placement for the purchase of 12,815,000 warrants (including warrants in connection with the exercise of the over-allotment option) at a price of $0.50 per warrant (the “Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase one-half of one share of common stock at $5.75 per share. The purchase price of the Private Placement Warrants was added to the proceeds from the Public Offering held in the Trust Account pending completion of the Initial Business Combination. The Private Placement Warrants (including the common stock issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or salable until 30 days after the completion of the Initial Business Combination and they are non-redeemable so long as they are held by the Sponsor or its permitted transferees. If the Private Placement Warrants are held by someone other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the warrants included in the Units sold in the Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Warrants sold as part of the Units in the Public Offering and have no net cash settlement provisions.

If the Company does not complete an Initial Business Combination, then the proceeds from the Private Placement Warrants will be part of the liquidating distribution to the public stockholders and the Private Placement Warrants will expire worthless.

Registration Rights:

The Company’s initial stockholder and holders of the Private Placement Warrants are entitled to registration rights pursuant to a registration rights agreement entered into in connection with the Public Offering in July 2015. The Company’s initial stockholder and holders of the Private Placement Warrants are entitled to make up to three demands, excluding short form registration demands, that the Company register such securities for sale under the Securities Act. In addition, these holders have “piggy-back” registration rights to include their securities in other registration statements filed by the Company. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Related Party Loans:

On January 12, 2017, the Company issued a promissory note to the Sponsor. The note permits the Company to borrow money from time to time from the Sponsor in an aggregate principal amount of up to $1,200,000 with an interest rate of 7.5% per annum. During January 2017, the Company borrowed $1,200,000 under the note. The Company intends to use the proceeds from such borrowings for ongoing operational expenses and certain other expenses in connection with the Company’s Initial Business Combination. Under this note, the Company has the option to convert any unpaid balance into shares of the Company’s common stock based on a share price of $10.00 per share. The note is repayable in full upon consummation of the Company’s Initial Business Combination.

Administrative Services Agreement:

The Company has agreed to pay $10,000 a month for office space, utilities and administrative support to the Sponsor. Services commenced on July 29, 2015, the date the securities were first listed on the NASDAQ Capital Market, and will terminate upon the earlier of the consummation by the Company of the Initial Business Combination or the liquidation of the Company. Administrative services charges earned but not paid under the agreement aggregating $50,000 are included in accrued liabilities at June 30, 2017.

NOTE 6 - TRUST ACCOUNT AND FAIR VALUE MEASUREMENT

The Company complies with FASB ASC 820, Fair Value Measurements, 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.

Upon the closing of the Public Offering and the private placement, a total of $155,250,000 was deposited into the Trust Account. All proceeds in the Trust Account may be invested in either U.S. government treasury bills with a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, and that invest solely in U.S. government treasury obligations.

At June 30, 2017 and December 31, 2016, the proceeds of the Trust Account were invested primarily in U.S. government treasury bills. The U.S. government treasury bills held at December 31, 2016 matured in March 2017 and the U. S. government treasury bills held at June 30, 2017 mature in August 2017. The Company classifies its U.S. government treasury bills 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 sheet at June 30, 2017 and December 31, 2016 and adjusted for the amortization or accretion of premiums or discounts. Approximately $1,000 and $1,000, respectively, of the balance in the Trust Account was held in cash at June 30, 2017 and December 31, 2016. During the three and six months ended June 30, 2017 and during the three and six months ended June 30, 2016 approximately $202,000 and $61,000, respectively, was released from the Trust Account to the Company to pay taxes.

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In addition, the table presents the carrying value under FASB ASC 320. Since all of the Company’s permitted investments consist of U.S. government treasury bills and cash, fair values of its investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets or liabilities as follows:

	Carrying Value at		Gross Unrealized			Quoted Prices in Active
Description	June 30, 2017		Holding Gain			Markets (Level 1)
Assets:
U.S. Government
Treasury Bills	$	155,780,000	$	(5,000	)	$	155,775,000
Cash		1,000		-			1,000
Total	$	155,781,000	$	(5,000	)	$	155,776,000

	Carrying Value at		Gross Unrealized			Quoted Prices in Active
Description	December 31, 2016		Holding Loss			Markets (Level 1)
Assets
U.S. Government
Treasury Bills	$	155,542,000	$	(15,000	)	$	155,527,000
Cash		1,000		-			1,000
Total	$	155,543,000	$	(15,000	)	$	155,528,000

Subsequent to June 30, 2017, on August 3, 2017, in connection with stockholder approval of the Company’s Amended and Restated Certificate of Incorporation, stockholders representing 3,416,480 shares elected to redeem their shares for a pro rata share of the amount in the Trust Account resulting in approximately $34,269,000 to be removed from the Trust Account in connection with such redemptions at a redemption value of approximately $10.03 per share. After payment of redemptions the remaining amount in the Trust Account was approximately $121,563,000. Subsequent to June 30, 2017 and prior to the redemptions on August 3, 2017, the Company withdrew approximately $58,000 from the Trust Account to pay taxes.

NOTE 7 – STOCKHOLDERS’ EQUITY

Common Stock:

The Company is authorized to issue 35,000,000 shares of common stock. The Company will likely (depending on the terms of the Initial Business Combination) be required to increase the number of shares of common stock which it is authorized to issue at the same time as its stockholders vote on the Initial Business Combination to the extent the Company seeks stockholder approval in connection with the Initial Business Combination. Holders of the Company’s common stock are entitled to one vote for each share of common stock they own. At June 30, 2017 and December 31, 2016, there were 19,406,250 shares of common stock issued and outstanding. At June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, outstanding shares were subject to redemption.

As discussed further in Note 6, subsequent to June 30, 2017 on August 3, 2017, shareholders representing 3,416,480 shares elected to redeem their shares which reduced the number of outstanding shares from 19,406,250 to 15,989,770 upon redemption in August 2017.

Preferred Stock:

The Company is authorized to issue 1,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. At June 30, 2017 and December 31, 2016, there were no shares of preferred stock issued and outstanding.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the condensed financial statements and the notes thereto contained elsewhere in this report. References to the “Company,” “us” or “we” refer to Global Partner Acquisition Corp.

Special Note Regarding Forward-Looking Statements

All statements other than statements of historical fact included in this section and other parts of this Form 10-Q regarding the Company’s financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. When used in this Form 10-Q, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or the Company’s management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in our filings with the SEC.

Overview

We are a blank check company incorporated on May 19, 2015 as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). We intend to effectuate the Business Combination using cash from the proceeds of a public offering (the “Public Offering”) that closed on August 4, 2015 and a sale of warrants in a private placement that occurred simultaneously with the completion of the Public Offering (the “Private Placement Warrants”), our capital stock, debt or a combination of cash, stock and debt.

The issuance of additional shares of our stock in a Business Combination:

●

may significantly dilute the equity interest of our stockholders;

●

may subordinate the rights of holders of common stock if preferred stock is issued with rights senior to those afforded to our common stock;

●

could cause a change of control if a substantial number of shares of our common stock are issued, which may affect, among other things, our ability to use our net operating loss carryforwards, if any, and could result in the resignation or removal of our present officers and directors;

●

may have the effect of delaying or preventing a change of control of us by diluting the stock ownership or voting rights of a person seeking to obtain control of us; and

●

may result in a decrease in the prevailing market prices for our common stock and/or warrants.

Similarly, if we issue debt securities, it could result in:

●

a decrease in the prevailing market prices for our common stock and/or warrants.

●

default and foreclosure on our assets if our operating revenues after a Business combination are insufficient to repay our debt obligations;

●

acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

●

our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;

●

our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding;

●

our inability to pay dividends on our common stock;

●

using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our common stock if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;

●

limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

●

increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and

●

limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

Sequel is a national provider of diversified behavioral healthcare services for individuals with behavioral, emotional, or physical challenges. Sequel provides service offerings across three primary program types, i) residential treatment centers, ii) intensive treatment programs, and iii) community-based services. Sequel is headquartered in Huntsville, Alabama.

Subsequent to June 30, 2017 on August 3, 2017, the Company’s stockholders agreed to amend the Company’s amended and restated certificate of incorporation pursuant to an “Extension Amendment,” to extend the date by which the Company must (i) consummate an Initial Business Combination, (ii) cease its operations if it fails to complete such Initial Business Combination, and (iii) redeem or repurchase 100% of the Company’s common stock included as part of the units sold in the Company’s initial public offering that was consummated on August 4, 2015 from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) or such earlier date as determined by the Board. Under the Extension Amendment, public stockholders will have the right to redeem their pro rata portion of the funds in the Trust Account.

As extended subsequent to June 30, 2017 on August 3, 2017, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete the Business Combination. However, there can be no assurances that the we will complete an Initial Business Combination. See “Risk Factors” in our Annual Report on Form 10-K filed on March 14, 2017 and Part II Other Information, Item 1A Risk Factors.

Subsequent to June 30, 2017 on July 24, 2017, the Company entered into a non-binding letter of intent relating to a business combination (the “Letter of Intent”) with Purple Innovation, LLC (“Purple”). Purple is a leading comfort technology company which designs and manufactures products to improve how people sleep, sit, and stand. It designs and manufactures a range of comfort technology products, including mattresses, pillows, and cushions, using its patented Hyper-Elastic Polymer^®technology designed to improve comfort. Purple is headquartered in Alpine, Utah. Under the terms of the Letter of Intent, the Company and Purple intend to enter into a definitive agreement, pursuant to which the Company would acquire Purple based on an enterprise value of Purple of $1.1 billion, with the Company paying a portion of the purchase price in cash (currently anticipated to be approximately $90 million) and with the remainder being paid in rollover equity interests in the combined public company, subject to customary adjustments.

As indicated in the accompanying financial statements, at June 30, 2017, we had approximately $188,000 in cash. We expect to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete our Business Combination will be successful.

Results of Operations

For the period from May 19, 2015 (inception) through June 30, 2017 our activities consisted of formation and preparation for the Public Offering and, subsequent to the Public Offering, locating and completing a suitable Business Combination. As such, we had no operations or significant operating expenses in 2015 until August 2015. Our operating costs for the three months ended June 30, 2017 and 2016 were approximately $246,000 and $121,000, respectively, and are largely associated with our governance and public reporting, insurance, as well as state franchise taxes of approximately $25,000 and $25,000, respectively, and charges of $10,000 per month from our Sponsor for administrative services as well as, in the three and six months ended June 30, 2017, approximately $120,000 of costs associated with the proposed Initial Business Combination with Sequel which was terminated in May 2017. Our operating costs for the six months ended June 30, 2017 and 2016 were approximately $560,000 and $259,000, respectively, and are largely associated with our governance and public reporting, insurance, as well as state franchise taxes of approximately $50,000 and $50,000, respectively, and charges of $10,000 per month from our Sponsor for administrative services as well as, in the six months ended June 30, 2017, approximately $260,000 of costs associated with a potential business combination that was terminated in May 2017. Interest income earned on our U.S. government treasury bills totaled approximately $261,000 and $440,000 during the three and six months ended June 30, 2017, respectively, and approximately $65,000 and $165,000 during the three and six months ended June 30, 2016. The increase in interest income in the three and six months ended June 30, 2017 results from the higher yields on U.S. government treasury bills compared to the three and six months ended June 30, 2016.

The provision for income taxes for the three and six months ended June 30, 2017 reflects the federal income taxes on income from the Trust, net of expenses which are currently deductible.

Liquidity and Capital Resources

On August 4, 2015, we consummated the Public Offering of an aggregate of 15,525,000 units (including the full exercise of the underwriters’ over-allotment option) at a price of $10.00 per unit generating gross proceeds of approximately $155,250,000 before underwriting discounts and expenses. Simultaneously with the consummation of the Public Offering, we consummated the private placement of 12,815,000 Private Placement Warrants, each exercisable to purchase one-half of one share of our common stock at $5.75 per half share ($11.50 per whole share), to the Sponsor, at a price of $0.50 per Private Placement Warrant, generating gross proceeds, before expenses, of approximately $6,408,000. We received net proceeds from the Public Offering and the sale of the Private Placement Warrants of approximately $156,550,000, net of the non-deferred portion of the underwriting commissions of $4,658,000 and offering costs and other expenses of approximately $450,000. $155,250,000 of the proceeds from the Public Offering and the concurrent private placement were deposited into the Trust Account and are not available to us for operations (other than amounts identified for payment of taxes).

Until the consummation of the Public Offering, the Company’s only sources of liquidity were the initial purchase of Founder Shares for $25,000 by the Sponsor, and a total of $225,000 loaned by the Sponsor against the issuance of an unsecured promissory note (Note 4 to condensed financial statements). These loans were non-interest bearing and were paid in full on August 4, 2015 in connection with the closing of the Public Offering.

On January 12, 2017, the Company issued a promissory note to the Sponsor. The note permits the Company to borrow money from time to time from the Sponsor in an aggregate principal amount of up to $1,200,000 with an interest rate of 7.5% per annum. During January 2017, the Company borrowed $1,200,000 under the note. The Company used the proceeds from such borrowings for ongoing operational expenses and certain other expenses in connection with the Company’s proposed Initial Business Combination with Sequel. Under this note, the Company has the option to convert any unpaid balance into shares of the Company’s common stock based on a share price of $10.00 per share. The note is repayable in full upon consummation of the Company’s Initial Business Combination.

During the six months ended June 30, 2017, we used approximately $1,249,000 of cash in operations. At June 30, 2017, we had approximately $188,000 of cash available outside of the Trust Account to fund our search for a Business Combination. We have had discussions with members of our Sponsor about providing up to $1.0 million of additional financing in the form of loans or advances to fund expenses incurred in connection with the consummation of an Initial Business Combination, but there are no agreements for such financing currently in place. We believe that we will have sufficient resources, assuming receipt of the additional financing from our Sponsor which is not currently in place, to fund our operations and our search for a Business Combination through the period that ends with our liquidation.

Off-balance sheet financing arrangements

We have no obligations, assets or liabilities which would be considered off-balance sheet arrangements. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements.

We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or entered into any non-financial assets.

Contractual obligations

At June 30, 2017, we did not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities. In connection with the Public Offering, in July 2015 we entered into an Administrative Services Agreement with our Sponsor, pursuant to which the Company pays a total of $10,000 per month for office space, utilities and administrative support. At June 30, 2017, the condensed balance sheet includes $50,000 of fees accrued but not paid under the Administrative Services Agreement. Upon the earlier of the completion of the Initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Critical Accounting Policies

The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. The Company has identified the following as its critical accounting policies:

Emerging Growth Company

Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.

Net Loss Per Common Share

Financial Instruments

The fair value of the Company's assets and liabilities, which qualify as financial instruments under FASB ASC 820, "Fair Value Measurements and Disclosures," approximates the carrying amounts represented in the accompanying unaudited condensed balance sheets.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. At June 30, 2017 and December 31, 2016, the Company has a deferred tax asset of approximately $350,000 and $225,000, respectively, related to net operating loss carryforwards (which begin to expire in 2035) and start-up costs. Management has determined that a full valuation allowance of the deferred tax asset is appropriate at this time.

Redeemable Common Stock

All of the 15,525,000 shares of common stock sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of such common stock under the Company's liquidation or tender offer/stockholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity's equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company does not specify a maximum redemption threshold, its amended and restated certificate of incorporation provides that in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets (stockholders' equity) to be less than $5,000,001.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of the security to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected by charges against additional paid-in capital.

Accordingly, at June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, of the 15,525,000 Public Shares were classified outside of permanent equity at their redemption value of $10.00 per share.

Recent Accounting Pronouncements

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We were incorporated in Delaware on May 19, 2015 for the purpose of effecting a Business Combination. As of June 30, 2017, we had not commenced any operations or generated any revenues. All activity through June 30, 2017 relates to our formation and our Public Offering and subsequent to that, locating and completing a suitable Business Combination. Subsequent to the Public Offering, $155,250,000 of the net proceeds of the Public Offering and the private placement that closed on August 4, 2015 were deposited into a Trust Account that invests solely in U.S. government treasury bills with a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940 which invest only in direct U. S. government obligations. At June 30, 2017, the Trust Account is invested primarily in U.S. government treasury bills. Therefore, we do not believe there is currently a material interest rate risk.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in company reports filed or submitted under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

As required by Rules 13a-15 and 15d-15 under the Exchange Act, our Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of June 30, 2017. Based upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures (as defined in Rules 13a-15 (e) and 15d-15 (e) under the Exchange Act) were effective.

Changes in Internal Control over Financial Reporting

During the three months ended June 30, 2017, there has been no change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

As of the date of this Report, there have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the period ended December 31, 2016 except we may disclose changes to such factors or disclose additional factors from time to time in our future filings with the SEC.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibit Number		Description
10.1		Letter dated May 19, 2017 by Sequel Youth and Family Services, LLC (incorporated herein by reference to the Current Report on Form 8-K filed by the Company on May 22, 2017).
31.1		Certification of the Principal Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes Oxley Act of 2002.
31.2		Certification of the Principal Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes Oxley Act of 2002.
32.1*		Certification of the Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.
32.2*		Certification of the Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

*	Furnished herewith

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	GLOBAL PARTNER ACQUISITION CORP.

Dated: August 8, 2017	/s/ Paul Zepf
	Name: Paul Zepf Title: Chief Executive Officer (Principal Executive Officer)

Dated: August 8, 2017

/s/ Andrew Cook

Name: Andrew Cook

Title: Chief Financial Officer and Secretary

(Principal Financial and Accounting Officer)

EX-31.1 2 f10q0617ex31i_globalpartner.htm CERTIFICATION

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

Pursuant to Rule 13a-14(a) and Rule 15d-14(a) under the

Securities Exchange Act of 1934

(Section 302 of the Sarbanes-Oxley Act of 2002)

I, Paul Zepf, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Global Partner Acquisition Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: August 8, 2017

/s/ Paul Zepf

Name: Paul Zepf

Title: Chief Executive Officer

(Principal Executive Officer)

EX-31.2 3 f10q0617ex31ii_globalpartner.htm CERTIFICATION

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

Pursuant to Rule 13a-14(a) and Rule 15d-14(e) under the

Securities Exchange Act of 1934

(Section 302 of the Sarbanes-Oxley Act of 2002)

I, Andrew Cook, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Global Partner Acquisition Corp.;

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: August 8, 2017

/s/ Andrew Cook

Name: Andrew Cook

Title: Chief Financial Officer and Secretary

(Principal Financial Officer)

EX-32.1 4 f10q0617ex32i_globalpartner.htm CERTIFICATION

Exhibit 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

Pursuant to 18 U.S.C. 1350

(Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report on Form 10-Q of Global Partner Acquisition Corp. (the “Company”) for the quarter ended June 30, 2017, as filed with the Securities and Exchange Commission (the “Report”), I, Paul Zepf, Chief Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: August 8, 2017

/s/ Paul Zepf

Name: Paul Zepf

Title: Chief Executive Officer

(Principal Executive Officer)

EX-32.2 5 f10q0617ex32ii_globalpartner.htm CERTIFICATION

Exhibit 32.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

Pursuant to 18 U.S.C. 1350

(Section 906 of the Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report on Form 10-Q of Global Partner Acquisition Corp. (the “Company”) for the quarter ended June 30, 2017, as filed with the Securities and Exchange Commission (the “Report”), I, Andrew Cook, Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: August 8, 2017

/s/ Andrew Cook

Name: Andrew Cook

Title: Chief Financial Officer and Secretary

(Principal Financial Officer)

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<div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">NOTE 1 – DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 15pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Organization and General: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Global Partner Acquisition Corp. (the “Company”) was incorporated in Delaware on May 19, 2015. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">At June 30, 2017, the Company had not commenced any operations. All activity for the period from May 19, 2015 (inception) through June 30, 2017 relates to the Company’s formation and the initial public offering (“Public Offering”) described below and, subsequent to the Public Offering, locating and completing a suitable Business Combination. The Company has not and will not generate any operating revenues until after completion of the Business Combination, at the earliest. The Company generates non-operating income in the form of interest income on cash from the proceeds of the Public Offering and a concurrent private placement. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Sponsor and Financing: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company’s sponsor is Global Partner Sponsor I LLC, a Delaware limited liability corporation (the “Sponsor” or the “initial stockholder”). The registration statement for the Public Offering (as described in Note 4) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on July 29, 2015. The Company intends to finance an Initial Business Combination with proceeds from $155,250,000 of gross proceeds from the Public Offering, including the underwriters’ exercise of the over-allotment option in full (as described in Note 4) and approximately $6,408,000 of gross proceeds from a concurrent private placement (Note 4). Upon the closing of the Public Offering and the private placement, $155,250,000 was deposited in a trust account with Continental Stock Transfer and Trust Company acting as trustee (the “Trust Account”) as discussed below. See below as well as Notes 5, 6 and 7 regarding redemptions of common stock and the release of a portion of the funds from the Trust Account in connection with stockholder approval, subsequent to June 30, 2017, to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company must complete its Initial Business Combination. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Trust Account: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The funds in the Trust Account may be invested only in U.S. government treasury bills with a maturity of one hundred and eighty (180) days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940 which invest only in direct U.S. government obligations. Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining proceeds of the Public Offering outside the Trust Account may be used to pay for business, legal and accounting due diligence expenses for prospective acquisition targets and continuing general and administrative expenses. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of the Initial Business Combination; or (ii) the redemption of 100% of the shares of common stock included in the Units (as defined below) sold in the Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Public Offering (subject to the requirements of law). <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Subsequent to June 30, 2017, on August 3, 2017, the stockholders of the Company approved an amendment to the Company’s amended and restated certificate of incorporation to extend the date on which the Company must liquidate the Trust Account if the Company has not completed an initial business combination, from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), and to permit the withdrawal of funds from the Trust Account to pay stockholders who properly exercise their redemption rights in connection with the related Extension Amendment. Stockholders representing 3,416,480 shares elected to redeem their shares as further discussed in Notes 6 and 7. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Initial Business Combination: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Public Offering, although substantially all of the net proceeds of the Public Offering are intended to be generally applied toward consummating an Initial Business Combination with a Target Business. As used herein, a “Target Business” is one or more businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (less any deferred underwriting commissions and taxes payable on interest earned) at the time of the Company signing a definitive agreement in connection with the Initial Business Combination. There is no assurance that the Company will be able to successfully effect an Initial Business Combination. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek stockholder approval of the Initial Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Initial Business Combination, for cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to have their shares redeemed by the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to commencement of the tender offer, including interest but less taxes payable. The decision as to whether the Company will seek stockholder approval of the Initial Business Combination or will allow stockholders to redeem their shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek stockholder approval unless a vote is required by NASDAQ rules. If the Company seeks stockholder approval, it will complete its Initial Business Combination only if a majority of the outstanding shares of common stock voted are voted in favor of the Initial Business Combination. However, in no event will the Company redeem its Public Shares (as defined below) in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable. As a result, such shares of common stock are recorded at redemption amount and classified as temporary equity upon the completion of the Public Offering, in accordance with Financial Accounting Standards, Board (“FASB”) Accounting Standards Update (“ASC”) 480, “Distinguishing Liabilities from Equity.” <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Subsequent to June 30, 2017, on August 3, 2017, the Company’s stockholders agreed to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate an Initial Business Combination from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) or such earlier date as determined by the Board of Directors of the Company. Under the Extension Amendment, public stockholders had the right to redeem their pro rata portion of the funds in the Trust Account and stockholders representing 3,416,480 shares elected to redeem their shares as further discussed in Notes 6 and 7. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Accordingly, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete the Initial Business Combination. See Liquidation and Going Concern below. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Liquidation and Going Concern: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">As noted in Initial Business Combination above, subsequent to June 30, 2017, on August 3, 2017, pursuant to the Extension Amendment, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete an Initial Business Combination. If the Company does not complete an Initial Business Combination by that date, the Company will (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public shares of common stock for a per share pro rata portion of the Trust Account, including interest, but less taxes payable (less up to $50,000 of such net interest to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its creditors and remaining stockholders, as part of its plan of dissolution and liquidation. The initial stockholders have entered into letter agreements with the Company, pursuant to which they have waived their rights to participate in any redemption with respect to their initial shares; however, if the Sponsor or any of the Company’s officers, directors or affiliates acquire shares of common stock in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company’s redemption or liquidation in the event the Company does not complete the Initial Business Combination within the required time period. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">This mandatory liquidation and subsequent dissolution raises substantial doubt about the Company's ability to continue as a going concern at June 30, 2017. No adjustments have been made to the carrying amounts of assets or liabilities as of such date should the Company be required to liquidate after November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for an Initial Business Combination by November 6, 2017). <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In the event of liquidation, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per unit in the Public Offering. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">At June 30, 2017, the Company had current liabilities of approximately $2,316,000 and negative working capital of approximately $2,095,000. Of these amounts, approximately $108,000 represents accrued taxes (which can be paid with interest earned from the Trust Account), approximately $1,240,000 is payable to our Sponsor upon the consummation of an Initial Business Combination (see Note 5), approximately $50,000 represents unpaid administrative fees payable to our Sponsor and approximately $918,000 largely represents amounts owed to professionals, consultants, advisors and others for their services in connection with a terminated Initial Business Combination. Funds in the Trust Account are not generally available to pay professionals, consultants, advisors and others absent an Initial Business Combination and the majority of such parties have agreed to waive any claims against the Trust Account. The Company believes that such professionals, consultants, advisors (excluding our independent registered public accounting firm) and others will continue assisting the Company with completing the Initial Business Combination and defer a portion of their fees until such completion or on a contingency basis. Additionally, the Company has had discussions with members of our Sponsor about providing up to $1.0 million of additional financing in the form of loans or advances to fund expenses in connection with the consummation of an Initial Business Combination, but there are no agreements for such financing currently in place. Further, the Company continues to generate interest income that is available to pay taxes. As such, the Company believes that it has sufficient working capital at June 30, 2017 (assuming the subsequent receipt of the additional funding from the Sponsor which is not currently in place) to fund its operations until completion of its Initial Business Combination or, if necessary, through November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017). </div>

<div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Basis of Presentation: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The accompanying interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”), and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position as of June 30, 2017 and December 31, 2016, and the results of operations and cash flows for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC. All dollar amounts are rounded to the nearest thousand dollars. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Emerging Growth Company: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised accounting standard at the time private companies adopt the new or revised standard. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Net Loss Per Common Share: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period, plus to the extent dilutive, the incremental number of shares of common stock to settle warrants, as calculated using the treasury stock method. At June 30, 2017 and 2016, the Company had outstanding warrants to purchase 14,170,000 shares of common stock. For all periods presented, these shares were excluded from the calculation of diluted loss per share of common stock because their inclusion would have been anti-dilutive. As a result, diluted loss per common share is the same as basic loss per common share for all periods presented. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Concentration of Credit Risk: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Financial Instruments: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the financial statements. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Use of Estimates: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Income Taxes: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company follows the asset and liability method of accounting for income taxes under FASB ASC, 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. At June 30, 2017 and December 31, 2016, the Company has a deferred tax asset of approximately $350,000 and $225,000, respectively, primarily related to start-up costs. Management has determined that a full valuation allowance of the deferred tax asset is appropriate at this time. The Company has excluded approximately $2.9 million of business combination related costs from this calculation due to the uncertainty of tax deductibility after the Initial Business Combination. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 15pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of June 30, 2017 or December 31, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2017 or December 31, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Redeemable Common Stock: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">All of the 15,525,000 common shares sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of common shares under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of an entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock shall be affected by charges against additional paid-in capital. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Accordingly, at June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, of the 15,525,000 Public Shares were classified outside of permanent equity at their redemption value. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Subsequent to June 30, 2017 on August 3, 2017 in connection with stockholder approval of the Extension Amendment, stockholders representing 3,416,480 shares elected to redeem their shares as discussed further in Notes 6 and 7. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Recent Accounting Pronouncements: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements. </div>

<div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">NOTE 6 - TRUST ACCOUNT AND FAIR VALUE MEASUREMENT <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company complies with FASB ASC 820, Fair Value Measurements, 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. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Upon the closing of the Public Offering and the private placement, a total of $155,250,000 was deposited into the Trust Account. All proceeds in the Trust Account may be invested in either U.S. government treasury bills with a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, and that invest solely in U.S. government treasury obligations. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">At June 30, 2017 and December 31, 2016, the proceeds of the Trust Account were invested primarily in U.S. government treasury bills. The U.S. government treasury bills held at December 31, 2016 matured in March 2017 and the U. S. government treasury bills held at June 30, 2017 mature in August 2017. The Company classifies its U.S. government treasury bills 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 sheet at June 30, 2017 and December 31, 2016 and adjusted for the amortization or accretion of premiums or discounts. Approximately $1,000 and $1,000, respectively, of the balance in the Trust Account was held in cash at June 30, 2017 and December 31, 2016. During the three and six months ended June 30, 2017 and during the three and six months ended June 30, 2016 approximately $202,000 and $61,000, respectively, was released from the Trust Account to the Company to pay taxes.  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In addition, the table presents the carrying value under FASB ASC 320. Since all of the Company’s permitted investments consist of U.S. government treasury bills and cash, fair values of its investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets or liabilities as follows: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1039.33px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px;" colspan="2">Carrying Value at</td> <td style="text-align: center; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px;" colspan="2">Gross Unrealized</td> <td style="text-align: center; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px;" colspan="2">Quoted Prices in Active</td> <td style="text-align: center; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Description</td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">June 30, 2017</td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Holding Gain</td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Markets (Level 1)</td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="text-indent: 0px; padding-left: 0px;">Assets:</td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="text-indent: 0px; padding-left: 0px;">U.S. Government</td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 652px; text-align: left; text-indent: 0px; padding-left: 10pt;">Treasury Bills</td> <td style="width: 10.66px; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10.66px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td> <td style="width: 94px; text-align: right; text-indent: 0px; padding-left: 0px;">155,780,000</td> <td style="width: 10.66px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10.66px; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10.66px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td> <td style="width: 93.33px; text-align: right; text-indent: 0px; padding-left: 0px;">(5,000</td> <td style="width: 10px; text-align: left; text-indent: 0px; padding-left: 0px;">)</td> <td style="width: 10px; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td> <td style="width: 93.33px; text-align: right; text-indent: 0px; padding-left: 0px;">155,775,000</td> <td style="width: 10px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">Cash</td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 20pt;">Total</td> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,781,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">(5,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">)</td> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,776,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1039.33px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px;" colspan="2">Carrying Value at</td> <td style="text-align: center; text-indent: 0px; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px;" colspan="2">Gross Unrealized</td> <td style="text-align: center; text-indent: 0px; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px; font-weight: bold;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px; font-weight: bold;" colspan="2">Quoted Prices in Active</td> <td style="text-align: center; text-indent: 0px; padding-left: 0px; font-weight: bold;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Description</td> <td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31, 2016</td> <td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Holding Loss</td> <td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Markets (Level 1)</td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="text-indent: 0px; padding-left: 0px;">Assets</td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="text-indent: 0px; padding-left: 0px;">U.S. Government</td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td> <td style="text-indent: 0px; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 652px; text-align: left; text-indent: 0px; padding-left: 10pt;">Treasury Bills</td> <td style="width: 10.66px; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10.66px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td> <td style="width: 94px; text-align: right; text-indent: 0px; padding-left: 0px;">155,542,000</td> <td style="width: 10.66px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10.66px; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10.66px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td> <td style="width: 93.33px; text-align: right; text-indent: 0px; padding-left: 0px;">(15,000</td> <td style="width: 10px; text-align: left; text-indent: 0px; padding-left: 0px;">)</td> <td style="width: 10px; text-indent: 0px; padding-left: 0px;"> </td> <td style="width: 10px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td> <td style="width: 93.33px; text-align: right; text-indent: 0px; padding-left: 0px;">155,527,000</td> <td style="width: 10px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">Cash</td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 20pt;">Total</td> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,543,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">(15,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">)</td> <td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> <td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,528,000</td> <td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Subsequent to June 30, 2017, on August 3, 2017, in connection with stockholder approval of the Company’s Amended and Restated Certificate of Incorporation, stockholders representing 3,416,480 shares elected to redeem their shares for a pro rata share of the amount in the Trust Account resulting in approximately $34,269,000 to be removed from the Trust Account in connection with such redemptions at a redemption value of approximately $10.03 per share. After payment of redemptions the remaining amount in the Trust Account was approximately $121,563,000. Subsequent to June 30, 2017 and prior to the redemptions on August 3, 2017, the Company withdrew approximately $58,000 from the Trust Account to pay taxes. </div>

<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Income Taxes:<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company follows the asset and liability method of accounting for income taxes under FASB ASC, 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. At June 30, 2017 and December 31, 2016, the Company has a deferred tax asset of approximately $350,000 and $225,000, respectively, primarily related to start-up costs. Management has determined that a full valuation allowance of the deferred tax asset is appropriate at this time. The Company has excluded approximately $2.9 million of business combination related costs from this calculation due to the uncertainty of tax deductibility after the Initial Business Combination.<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 15pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of June 30, 2017 or December 31, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2017 or December 31, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities.</div>

<div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Redeemable Common Stock: <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">All of the 15,525,000 common shares sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of common shares under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of an entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock shall be affected by charges against additional paid-in capital. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Accordingly, at June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, of the 15,525,000 Public Shares were classified outside of permanent equity at their redemption value. <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">  <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 18pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Subsequent to June 30, 2017 on August 3, 2017 in connection with stockholder approval of the Extension Amendment, stockholders representing 3,416,480 shares elected to redeem their shares as discussed further in Notes 6 and 7. </div>

<div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px;" colspan="2">Carrying Value at</td><td style="text-align: center; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px;" colspan="2">Gross Unrealized</td><td style="text-align: center; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px;" colspan="2">Quoted Prices in Active</td><td style="text-align: center; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-align: left; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Description</td><td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">June 30, 2017</td><td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Holding Gain</td><td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Markets (Level 1)</td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-indent: 0px; padding-left: 0px;">Assets:</td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-indent: 0px; padding-left: 0px;">U.S. Government</td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 989.67px; text-align: left; text-indent: 0px; padding-left: 10pt;">Treasury Bills</td><td style="width: 16px; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 16px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td><td style="width: 142px; text-align: right; text-indent: 0px; padding-left: 0px;">155,780,000</td><td style="width: 16px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 16px; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 16px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td><td style="width: 141px; text-align: right; text-indent: 0px; padding-left: 0px;">(5,000</td><td style="width: 15px; text-align: left; text-indent: 0px; padding-left: 0px;">)</td><td style="width: 15px; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 15px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td><td style="width: 141px; text-align: right; text-indent: 0px; padding-left: 0px;">155,775,000</td><td style="width: 15px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">Cash</td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 20pt;">Total</td><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,781,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">(5,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">)</td><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,776,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px;" colspan="2">Carrying Value at</td><td style="text-align: center; text-indent: 0px; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px;" colspan="2">Gross Unrealized</td><td style="text-align: center; text-indent: 0px; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px; font-weight: bold;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px; font-weight: bold;" colspan="2">Quoted Prices in Active</td><td style="text-align: center; text-indent: 0px; padding-left: 0px; font-weight: bold;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Description</td><td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31, 2016</td><td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Holding Loss</td><td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Markets (Level 1)</td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-indent: 0px; padding-left: 0px;">Assets</td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-indent: 0px; padding-left: 0px;">U.S. Government</td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-left: 0px;" colspan="2"> </td><td style="text-indent: 0px; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 989.67px; text-align: left; text-indent: 0px; padding-left: 10pt;">Treasury Bills</td><td style="width: 16px; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 16px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td><td style="width: 142px; text-align: right; text-indent: 0px; padding-left: 0px;">155,542,000</td><td style="width: 16px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 16px; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 16px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td><td style="width: 141px; text-align: right; text-indent: 0px; padding-left: 0px;">(15,000</td><td style="width: 15px; text-align: left; text-indent: 0px; padding-left: 0px;">)</td><td style="width: 15px; text-indent: 0px; padding-left: 0px;"> </td><td style="width: 15px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td><td style="width: 141px; text-align: right; text-indent: 0px; padding-left: 0px;">155,527,000</td><td style="width: 15px; text-align: left; text-indent: 0px; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">Cash</td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 20pt;">Total</td><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,543,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">(15,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">)</td><td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td><td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">155,528,000</td><td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"> </td></tr></table></div>

155250000

6408000

155250000

(i) The consummation of the Initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining proceeds of the Public Offering outside the Trust Account may be used to pay for business, legal and accounting due diligence expenses for prospective acquisition targets and continuing general and administrative expenses.

0.80

1000000

5000001

50000

2095000

1240000

918000

3416480

<div>(ii) the redemption of 100% of the shares of common stock included in the Units (as defined below) sold in the Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Public Offering (subject to the requirements of law).</div>

50000

10000

14170000 14170000

250000

225000

350000

15525000 15525000

2035-12-31

2900000

0.006

10.00

Each Unit consists of one share of the Company's common stock, $0.0001 par value and one redeemable common stock purchase warrant (the "Warrants").

Each Warrant entitles the holder to purchase one-half of one share of common stock at a price of $5.75.

Each Private Placement Warrant entitles the holder to purchase one-half of one share of common stock at $5.75 per share.

Each Warrant will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Public Offering and will expire five years after the completion of the Initial Business Combination or earlier upon redemption or liquidation. However, if the Company does not complete the Initial Business Combination on or prior to the period allotted to complete the Initial Business Combination (November 6, 2017 or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), the Warrants will expire at the end of such period. The Company has agreed to use its best efforts following the completion of the Initial Business Combination to file a new registration statement under the Securities Act, to cover the shares of common stock issuable upon the exercise of the warrants. If the Company is unable to deliver registered shares of common stock to the holder upon exercise of the Warrants issued as part of the 15,525,000 Units during the exercise period, there will be no net cash settlement of these Warrants and the Warrants will expire worthless, unless they are exercised on a cashless basis in the circumstances described in the warrant agreement. Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days' prior written notice of redemption, only in the event that the last sale price of the Company's shares of common stock equals or exceeds $24.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Warrant holders.

The Company paid an underwriting discount of 3% of the gross proceeds of the Public Offering to the underwriters at the closing of the Public Offering (approximately $4,658,000), with an additional fee (the "Deferred Discount") of 3% of the gross proceeds payable upon the Company's completion of the Initial Business Combination. The Deferred Discount will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes the Initial Business Combination.

0.03

0.01

0.50

0.03

12815000

3881250

25000

506250

0.200

(A) one year after the completion of the Initial Business Combination, or earlier if, subsequent to the Initial Business Combination, the last sale price of the Company's common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Initial Business Combination or (B) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction after the Initial Business Combination that results in all of the Company's stockholders having the right to exchange their shares of common stock for cash, securities or other property.

The Private Placement Warrants (including the common stock issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or salable until 30 days after the completion of the Initial Business Combination and they are non-redeemable so long as they are held by the Sponsor or its permitted transferees.

1200000

10.00

0.075

50000

155542000

155527000

155780000

155775000

-15000 -5000

1000

-15000 -5000

U.S. government treasury bills with a maturity of 180 days or less

61000 61000 202000 202000

34269000

121563000

58000

Holders of the Company's common stock are entitled to one vote for each share of common stock they own.

14428805 14364041

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2017	Aug. 08, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Global Partner Acquisition Corp.
Entity Central Index Key	0001643953
Trading Symbol	GPAC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,989,770

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Condensed Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets -
Cash	$ 188,000	$ 237,000
Prepaid expenses	33,000	41,000
Total current assets	221,000	278,000
Non-current assets -
Cash and investments held in Trust Account	155,781,000	155,543,000
Total assets	156,002,000	155,821,000
Current liabilities -
Accounts payable	11,000	199,000
Accrued liabilities	957,000	1,614,000
Accrued taxes	108,000	62,000
Notes payable and accrued interest - related party	1,240,000
Total current liabilities	2,316,000	1,875,000
Other liabilities -
Deferred underwriting compensation	4,658,000	4,658,000
Total liabilities	6,974,000	6,533,000
Common stock subject to possible redemption; 14,364,041 shares and 14,428,805 shares, respectively, at June 30, 2017 and December 31, 2016 (at redemption value of approximately $10.03 per share)	144,028,000	144,288,000
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value, 1,000,000 shares authorized, none issued or outstanding
Common stock, $0.0001 par value, 35,000,000 shares authorized, 5,042,209 shares and 4,977,445 shares, respectively, issued and outstanding (excluding 14,364,041 and 14,428,805 shares, respectively, subject to possible redemption) at June 30, 2017 and December 31, 2016
Additional paid-in-capital	7,890,000	7,630,000
Accumulated deficit	(2,890,000)	(2,630,000)
Total stockholders' equity	5,000,000	5,000,000
Total liabilities and stockholders' equity	$ 156,002,000	$ 155,821,000

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Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, possible redemption, shares	14,364,041	14,428,805
Common stock, possible redemption, per share	$ 10.03	$ 10.03
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	5,042,209	4,977,445
Common stock, shares outstanding	5,042,209	4,977,445
Common stock excluding possible redemption, shares	14,364,041	14,428,805

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Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenues
General and administrative expenses	246,000	121,000	560,000	259,000
Loss from operations	(246,000)	(121,000)	(560,000)	(259,000)
Other income (expense)
Interest income on Trust Account	261,000	65,000	440,000	165,000
Interest expense on Notes payable - related party	(22,000)		(40,000)
Loss before income tax	(7,000)	(56,000)	(160,000)	(94,000)
Provision for income tax	(50,000)		(100,000)
Net loss attributable to common stock	$ (57,000)	$ (56,000)	$ (260,000)	$ (94,000)
Weighted average common shares outstanding:
Basic and diluted	5,013,000	4,752,000	5,000,000	4,750,000
Net loss per common share:
Basic and diluted	$ (0.01)	$ (0.01)	$ (0.05)	$ (0.02)

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Condensed Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2016	$ 5,000,000		$ 7,630,000	$ (2,630,000)
Balance, shares at Dec. 31, 2016		4,977,445
Change in proceeds subject to possible redemption	260,000		260,000
Change in proceeds subject to possible redemption, shares		64,764
Net loss	(260,000)			(260,000)
Balance at Jun. 30, 2017	$ 5,000,000		$ 7,890,000	$ (2,890,000)
Balance, shares at Jun. 30, 2017		5,042,209

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Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (260,000)	$ (94,000)
Adjustments to reconcile net loss to net cash used in operations:
Decrease in prepaid expenses	8,000	26,000
Increase in accounts payable, accrued liabilities and accrued taxes, net	(759,000)	(102,000)
Trust income retained in Trust Account	(238,000)	(103,000)
Net cash used in operating activities	(1,249,000)	(273,000)
Cash flows from financing activities: Proceeds from notes payable - related party	1,200,000
Net decrease in cash	(49,000)	(273,000)
Cash at beginning of period	237,000	1,048,000
Cash at end of period	188,000	775,000
Supplemental disclosure of non-cash financing activities:
Non-cash interest	$ 18,000

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Description of Organization and Business Operations	6 Months Ended
Description of Organization and Business Operations	Jun. 30, 2017
Description of Organization and Business Operations [Abstract]
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1 – DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Organization and General: Global Partner Acquisition Corp. (the “Company”) was incorporated in Delaware on May 19, 2015. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). At June 30, 2017, the Company had not commenced any operations. All activity for the period from May 19, 2015 (inception) through June 30, 2017 relates to the Company’s formation and the initial public offering (“Public Offering”) described below and, subsequent to the Public Offering, locating and completing a suitable Business Combination. The Company has not and will not generate any operating revenues until after completion of the Business Combination, at the earliest. The Company generates non-operating income in the form of interest income on cash from the proceeds of the Public Offering and a concurrent private placement. Sponsor and Financing: The Company’s sponsor is Global Partner Sponsor I LLC, a Delaware limited liability corporation (the “Sponsor” or the “initial stockholder”). The registration statement for the Public Offering (as described in Note 4) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on July 29, 2015. The Company intends to finance an Initial Business Combination with proceeds from $155,250,000 of gross proceeds from the Public Offering, including the underwriters’ exercise of the over-allotment option in full (as described in Note 4) and approximately $6,408,000 of gross proceeds from a concurrent private placement (Note 4). Upon the closing of the Public Offering and the private placement, $155,250,000 was deposited in a trust account with Continental Stock Transfer and Trust Company acting as trustee (the “Trust Account”) as discussed below. See below as well as Notes 5, 6 and 7 regarding redemptions of common stock and the release of a portion of the funds from the Trust Account in connection with stockholder approval, subsequent to June 30, 2017, to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company must complete its Initial Business Combination. The Trust Account: The funds in the Trust Account may be invested only in U.S. government treasury bills with a maturity of one hundred and eighty (180) days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940 which invest only in direct U.S. government obligations. Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining proceeds of the Public Offering outside the Trust Account may be used to pay for business, legal and accounting due diligence expenses for prospective acquisition targets and continuing general and administrative expenses. The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of the Initial Business Combination; or (ii) the redemption of 100% of the shares of common stock included in the Units (as defined below) sold in the Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Public Offering (subject to the requirements of law). Subsequent to June 30, 2017, on August 3, 2017, the stockholders of the Company approved an amendment to the Company’s amended and restated certificate of incorporation to extend the date on which the Company must liquidate the Trust Account if the Company has not completed an initial business combination, from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), and to permit the withdrawal of funds from the Trust Account to pay stockholders who properly exercise their redemption rights in connection with the related Extension Amendment. Stockholders representing 3,416,480 shares elected to redeem their shares as further discussed in Notes 6 and 7. Initial Business Combination: The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Public Offering, although substantially all of the net proceeds of the Public Offering are intended to be generally applied toward consummating an Initial Business Combination with a Target Business. As used herein, a “Target Business” is one or more businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (less any deferred underwriting commissions and taxes payable on interest earned) at the time of the Company signing a definitive agreement in connection with the Initial Business Combination. There is no assurance that the Company will be able to successfully effect an Initial Business Combination. The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek stockholder approval of the Initial Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Initial Business Combination, for cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to have their shares redeemed by the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to commencement of the tender offer, including interest but less taxes payable. The decision as to whether the Company will seek stockholder approval of the Initial Business Combination or will allow stockholders to redeem their shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek stockholder approval unless a vote is required by NASDAQ rules. If the Company seeks stockholder approval, it will complete its Initial Business Combination only if a majority of the outstanding shares of common stock voted are voted in favor of the Initial Business Combination. However, in no event will the Company redeem its Public Shares (as defined below) in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination. If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable. As a result, such shares of common stock are recorded at redemption amount and classified as temporary equity upon the completion of the Public Offering, in accordance with Financial Accounting Standards, Board (“FASB”) Accounting Standards Update (“ASC”) 480, “Distinguishing Liabilities from Equity.” Subsequent to June 30, 2017, on August 3, 2017, the Company’s stockholders agreed to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate an Initial Business Combination from August 4, 2017 to November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) or such earlier date as determined by the Board of Directors of the Company. Under the Extension Amendment, public stockholders had the right to redeem their pro rata portion of the funds in the Trust Account and stockholders representing 3,416,480 shares elected to redeem their shares as further discussed in Notes 6 and 7. Accordingly, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete the Initial Business Combination. See Liquidation and Going Concern below. Liquidation and Going Concern: As noted in Initial Business Combination above, subsequent to June 30, 2017, on August 3, 2017, pursuant to the Extension Amendment, the Company will only have until November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017) to complete an Initial Business Combination. If the Company does not complete an Initial Business Combination by that date, the Company will (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public shares of common stock for a per share pro rata portion of the Trust Account, including interest, but less taxes payable (less up to $50,000 of such net interest to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its creditors and remaining stockholders, as part of its plan of dissolution and liquidation. The initial stockholders have entered into letter agreements with the Company, pursuant to which they have waived their rights to participate in any redemption with respect to their initial shares; however, if the Sponsor or any of the Company’s officers, directors or affiliates acquire shares of common stock in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company’s redemption or liquidation in the event the Company does not complete the Initial Business Combination within the required time period. This mandatory liquidation and subsequent dissolution raises substantial doubt about the Company's ability to continue as a going concern at June 30, 2017. No adjustments have been made to the carrying amounts of assets or liabilities as of such date should the Company be required to liquidate after November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for an Initial Business Combination by November 6, 2017). In the event of liquidation, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per unit in the Public Offering. At June 30, 2017, the Company had current liabilities of approximately $2,316,000 and negative working capital of approximately $2,095,000. Of these amounts, approximately $108,000 represents accrued taxes (which can be paid with interest earned from the Trust Account), approximately $1,240,000 is payable to our Sponsor upon the consummation of an Initial Business Combination (see Note 5), approximately $50,000 represents unpaid administrative fees payable to our Sponsor and approximately $918,000 largely represents amounts owed to professionals, consultants, advisors and others for their services in connection with a terminated Initial Business Combination. Funds in the Trust Account are not generally available to pay professionals, consultants, advisors and others absent an Initial Business Combination and the majority of such parties have agreed to waive any claims against the Trust Account. The Company believes that such professionals, consultants, advisors (excluding our independent registered public accounting firm) and others will continue assisting the Company with completing the Initial Business Combination and defer a portion of their fees until such completion or on a contingency basis. Additionally, the Company has had discussions with members of our Sponsor about providing up to $1.0 million of additional financing in the form of loans or advances to fund expenses in connection with the consummation of an Initial Business Combination, but there are no agreements for such financing currently in place. Further, the Company continues to generate interest income that is available to pay taxes. As such, the Company believes that it has sufficient working capital at June 30, 2017 (assuming the subsequent receipt of the additional funding from the Sponsor which is not currently in place) to fund its operations until completion of its Initial Business Combination or, if necessary, through November 6, 2017 (or February 5, 2018 if the Company has executed a definitive agreement for a business combination by November 6, 2017).

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Business Combination - Agreement and Termination	6 Months Ended
Business Combination - Agreement and Termination	Jun. 30, 2017
Business Combination - Agreement and Termination [Abstract]
BUSINESS COMBINATION - AGREEMENT AND TERMINATION	NOTE 2 – BUSINESS COMBINATION – AGREEMENT AND TERMINATION On January 11, 2017, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Sequel Acquisition, LLC (the “MergerSub”), a wholly-owned subsidiary of the Company, Sequel Youth and Family Services, LLC (“Sequel”) and other parties named thereto. Pursuant to the Merger Agreement, the Company agreed to acquire the Sequel business through an equity purchase and a merger of MergerSub with and into Sequel, with Sequel being the survivor in the merger (the “Business Combination”). On May 19, 2017, the Company received notice from Sequel that Sequel terminated the Merger Agreement. Sequel’s termination was as a result of the transactions contemplated by the Merger Agreement not being completed on or prior to May 15, 2017 as required. Material terms of the Merger Agreement are set forth in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 18, 2017.

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Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation: The accompanying interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”), and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position as of June 30, 2017 and December 31, 2016, and the results of operations and cash flows for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year. The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC. All dollar amounts are rounded to the nearest thousand dollars. Emerging Growth Company: Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised accounting standard at the time private companies adopt the new or revised standard. Net Loss Per Common Share: Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period, plus to the extent dilutive, the incremental number of shares of common stock to settle warrants, as calculated using the treasury stock method. At June 30, 2017 and 2016, the Company had outstanding warrants to purchase 14,170,000 shares of common stock. For all periods presented, these shares were excluded from the calculation of diluted loss per share of common stock because their inclusion would have been anti-dilutive. As a result, diluted loss per common share is the same as basic loss per common share for all periods presented. Concentration of Credit Risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. Financial Instruments: The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the financial statements. Use of Estimates: The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. Income Taxes: The Company follows the asset and liability method of accounting for income taxes under FASB ASC, 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. At June 30, 2017 and December 31, 2016, the Company has a deferred tax asset of approximately $350,000 and $225,000, respectively, primarily related to start-up costs. Management has determined that a full valuation allowance of the deferred tax asset is appropriate at this time. The Company has excluded approximately $2.9 million of business combination related costs from this calculation due to the uncertainty of tax deductibility after the Initial Business Combination. FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of June 30, 2017 or December 31, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2017 or December 31, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities. Redeemable Common Stock: All of the 15,525,000 common shares sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of common shares under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of an entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock shall be affected by charges against additional paid-in capital. Accordingly, at June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, of the 15,525,000 Public Shares were classified outside of permanent equity at their redemption value. Subsequent to June 30, 2017 on August 3, 2017 in connection with stockholder approval of the Extension Amendment, stockholders representing 3,416,480 shares elected to redeem their shares as discussed further in Notes 6 and 7. Recent Accounting Pronouncements: Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

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Public Offering	6 Months Ended
Public Offering	Jun. 30, 2017
Public Offering [Abstract]
PUBLIC OFFERING	NOTE 4 – PUBLIC OFFERING On August 4, 2015, the Company closed the Public Offering for the sale of 15,525,000 Units at a price of $10.00 per unit (the “Units”), including the full exercise of the underwriters’ over-allotment option yielding gross proceeds of $155,250,000. Each Unit consists of one share of the Company’s common stock, $0.0001 par value and one redeemable common stock purchase warrant (the “Warrants”). Each Warrant entitles the holder to purchase one-half of one share of common stock at a price of $5.75. No fractional shares will be issued upon exercise of the Warrants. If, upon exercise of the Warrants, a holder would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number the number of shares of common stock to be issued to the warrant holder. Each Warrant will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Public Offering and will expire five years after the completion of the Initial Business Combination or earlier upon redemption or liquidation. However, if the Company does not complete the Initial Business Combination on or prior to the period allotted to complete the Initial Business Combination (November 6, 2017 or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), the Warrants will expire at the end of such period. The Company has agreed to use its best efforts following the completion of the Initial Business Combination to file a new registration statement under the Securities Act, to cover the shares of common stock issuable upon the exercise of the warrants. If the Company is unable to deliver registered shares of common stock to the holder upon exercise of the Warrants issued as part of the 15,525,000 Units during the exercise period, there will be no net cash settlement of these Warrants and the Warrants will expire worthless, unless they are exercised on a cashless basis in the circumstances described in the warrant agreement. Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the last sale price of the Company’s shares of common stock equals or exceeds $24.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Warrant holders. The Company paid an underwriting discount of 3% of the gross proceeds of the Public Offering to the underwriters at the closing of the Public Offering (approximately $4,658,000), with an additional fee (the “Deferred Discount”) of 3% of the gross proceeds payable upon the Company’s completion of the Initial Business Combination. The Deferred Discount will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes the Initial Business Combination. In addition, on August 4, 2015, the Sponsor paid the Company approximately $6,408,000 in a private placement for the purchase of 12,815,000 warrants at a price of $0.50 per warrant (the “Private Placement Warrants”) - see also Note 5.

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Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS Founder Shares: In May 2015, the Sponsor purchased 3,881,250 shares of common stock (the “Founder Shares”) for $25,000, or approximately $0.006 per share. The Founder Shares are identical to the common stock included in the Units sold in the Public Offering except that the Founder Shares are subject to certain transfer restrictions as described in more detail below. The Sponsor agreed to forfeit up to 506,250 Founder Shares to the extent that the over-allotment option was not exercised in full by the underwriters so that the initial stockholder would own 20.0% of the Company’s issued and outstanding shares after the Public Offering. As described above, the underwriters exercised their over-allotment option in full and therefore none of the Founder Shares were forfeited. The Company’s initial stockholder has agreed not to transfer, assign or sell any of its Founder Shares until the earlier of (A) one year after the completion of the Initial Business Combination, or earlier if, subsequent to the Initial Business Combination, the last sale price of the Company’s common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Initial Business Combination or (B) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction after the Initial Business Combination that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property. Private Placement Warrants; Upon the closing of the Public Offering on August 4, 2015, the Sponsor paid the Company approximately $6,408,000 in a private placement for the purchase of 12,815,000 warrants (including warrants in connection with the exercise of the over-allotment option) at a price of $0.50 per warrant (the “Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase one-half of one share of common stock at $5.75 per share. The purchase price of the Private Placement Warrants was added to the proceeds from the Public Offering held in the Trust Account pending completion of the Initial Business Combination. The Private Placement Warrants (including the common stock issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or salable until 30 days after the completion of the Initial Business Combination and they are non-redeemable so long as they are held by the Sponsor or its permitted transferees. If the Private Placement Warrants are held by someone other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the warrants included in the Units sold in the Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Warrants sold as part of the Units in the Public Offering and have no net cash settlement provisions. If the Company does not complete an Initial Business Combination, then the proceeds from the Private Placement Warrants will be part of the liquidating distribution to the public stockholders and the Private Placement Warrants will expire worthless. Registration Rights: The Company’s initial stockholder and holders of the Private Placement Warrants are entitled to registration rights pursuant to a registration rights agreement entered into in connection with the Public Offering in July 2015. The Company’s initial stockholder and holders of the Private Placement Warrants are entitled to make up to three demands, excluding short form registration demands, that the Company register such securities for sale under the Securities Act. In addition, these holders have “piggy-back” registration rights to include their securities in other registration statements filed by the Company. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Related Party Loans: On January 12, 2017, the Company issued a promissory note to the Sponsor. The note permits the Company to borrow money from time to time from the Sponsor in an aggregate principal amount of up to $1,200,000 with an interest rate of 7.5% per annum. During January 2017, the Company borrowed $1,200,000 under the note. The Company intends to use the proceeds from such borrowings for ongoing operational expenses and certain other expenses in connection with the Company’s Initial Business Combination. Under this note, the Company has the option to convert any unpaid balance into shares of the Company’s common stock based on a share price of $10.00 per share. The note is repayable in full upon consummation of the Company’s Initial Business Combination. Administrative Services Agreement: The Company has agreed to pay $10,000 a month for office space, utilities and administrative support to the Sponsor. Services commenced on July 29, 2015, the date the securities were first listed on the NASDAQ Capital Market, and will terminate upon the earlier of the consummation by the Company of the Initial Business Combination or the liquidation of the Company. Administrative services charges earned but not paid under the agreement aggregating $50,000 are included in accrued liabilities at June 30, 2017.

XML 23 R12.htm IDEA: XBRL DOCUMENT

Trust Account and Fair Value Measurement

6 Months Ended

Jun. 30, 2017

Trust Account and Fair Value Measurement [Abstract]

TRUST ACCOUNT AND FAIR VALUE MEASUREMENT

NOTE 6 - TRUST ACCOUNT AND FAIR VALUE MEASUREMENT

	Carrying Value at		Gross Unrealized			Quoted Prices in Active
Description	June 30, 2017		Holding Gain			Markets (Level 1)
Assets:
U.S. Government
Treasury Bills	$	155,780,000	$	(5,000	)	$	155,775,000
Cash		1,000		-			1,000
Total	$	155,781,000	$	(5,000	)	$	155,776,000

	Carrying Value at		Gross Unrealized			Quoted Prices in Active
Description	December 31, 2016		Holding Loss			Markets (Level 1)
Assets
U.S. Government
Treasury Bills	$	155,542,000	$	(15,000	)	$	155,527,000
Cash		1,000		-			1,000
Total	$	155,543,000	$	(15,000	)	$	155,528,000

XML 24 R13.htm IDEA: XBRL DOCUMENT

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2017
Stockholders' Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 7 – STOCKHOLDERS’ EQUITY Common Stock: The Company is authorized to issue 35,000,000 shares of common stock. The Company will likely (depending on the terms of the Initial Business Combination) be required to increase the number of shares of common stock which it is authorized to issue at the same time as its stockholders vote on the Initial Business Combination to the extent the Company seeks stockholder approval in connection with the Initial Business Combination. Holders of the Company’s common stock are entitled to one vote for each share of common stock they own. At June 30, 2017 and December 31, 2016, there were 19,406,250 shares of common stock issued and outstanding. At June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, outstanding shares were subject to redemption. As discussed further in Note 6, subsequent to June 30, 2017 on August 3, 2017, shareholders representing 3,416,480 shares elected to redeem their shares which reduced the number of outstanding shares from 19,406,250 to 15,989,770 upon redemption in August 2017. Preferred Stock: The Company is authorized to issue 1,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. At June 30, 2017 and December 31, 2016, there were no shares of preferred stock issued and outstanding.

XML 25 R14.htm IDEA: XBRL DOCUMENT

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”), and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position as of June 30, 2017 and December 31, 2016, and the results of operations and cash flows for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year. The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC. All dollar amounts are rounded to the nearest thousand dollars.
Emerging Growth Company	Emerging Growth Company: Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised accounting standard at the time private companies adopt the new or revised standard.
Net Loss Per Common Share	Net Loss Per Common Share: Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period, plus to the extent dilutive, the incremental number of shares of common stock to settle warrants, as calculated using the treasury stock method. At June 30, 2017 and 2016, the Company had outstanding warrants to purchase 14,170,000 shares of common stock. For all periods presented, these shares were excluded from the calculation of diluted loss per share of common stock because their inclusion would have been anti-dilutive. As a result, diluted loss per common share is the same as basic loss per common share for all periods presented.
Concentration of Credit Risk	Concentration of Credit Risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Financial Instruments	Financial Instruments: The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the financial statements.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Income Taxes	Income Taxes: The Company follows the asset and liability method of accounting for income taxes under FASB ASC, 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. At June 30, 2017 and December 31, 2016, the Company has a deferred tax asset of approximately $350,000 and $225,000, respectively, primarily related to start-up costs. Management has determined that a full valuation allowance of the deferred tax asset is appropriate at this time. The Company has excluded approximately $2.9 million of business combination related costs from this calculation due to the uncertainty of tax deductibility after the Initial Business Combination. FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of June 30, 2017 or December 31, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2017 or December 31, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities.
Redeemable Common Stock	Redeemable Common Stock: All of the 15,525,000 common shares sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of common shares under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of an entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock shall be affected by charges against additional paid-in capital. Accordingly, at June 30, 2017 and December 31, 2016, 14,364,041 and 14,428,805, respectively, of the 15,525,000 Public Shares were classified outside of permanent equity at their redemption value. Subsequent to June 30, 2017 on August 3, 2017 in connection with stockholder approval of the Extension Amendment, stockholders representing 3,416,480 shares elected to redeem their shares as discussed further in Notes 6 and 7.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

XML 26 R15.htm IDEA: XBRL DOCUMENT

Trust Account and Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2017

Trust Account and Fair Value Measurement [Abstract]

Schedule of identical assets or liabilities

	Carrying Value at		Gross Unrealized			Quoted Prices in Active
Description	June 30, 2017		Holding Gain			Markets (Level 1)
Assets:
U.S. Government
Treasury Bills	$	155,780,000	$	(5,000	)	$	155,775,000
Cash		1,000		-			1,000
Total	$	155,781,000	$	(5,000	)	$	155,776,000

	Carrying Value at		Gross Unrealized			Quoted Prices in Active
Description	December 31, 2016		Holding Loss			Markets (Level 1)
Assets
U.S. Government
Treasury Bills	$	155,542,000	$	(15,000	)	$	155,527,000
Cash		1,000		-			1,000
Total	$	155,543,000	$	(15,000	)	$	155,528,000

XML 27 R16.htm IDEA: XBRL DOCUMENT

Description of Organization and Business Operations (Details) - USD ($)		6 Months Ended
	Aug. 03, 2017	Jun. 30, 2017	Dec. 31, 2016
Description of Organization and Business Operations (Textual)
Gross proceeds from public offering		$ 155,250,000
Gross proceeds from issuance of private placement		6,408,000
Cash deposited in trust account		$ 155,250,000
Business combination, description		(i) The consummation of the Initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining proceeds of the Public Offering outside the Trust Account may be used to pay for business, legal and accounting due diligence expenses for prospective acquisition targets and continuing general and administrative expenses.
Business combination fair market value, percentage		80.00%
Business combination additional financial loans and advances		$ 1,000,000
Net tangible assets		5,000,001
Interest paid, net		50,000
Current liabilities		2,316,000	$ 1,875,000
Negative working capital		2,095,000
Accrued taxes		108,000	$ 62,000
Cash payable to sponsor		1,240,000
Professionals and services expense		$ 918,000
Common stock, redemption terms		(ii) the redemption of 100% of the shares of common stock included in the Units (as defined below) sold in the Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Public Offering (subject to the requirements of law).
Administrative fees payable		$ 50,000
Subsequent Event [Member]
Description of Organization and Business Operations (Textual)
Stock redeemed during period, shares	3,416,480

XML 28 R17.htm IDEA: XBRL DOCUMENT

Summary of Significant Accounting Policies (Details) - USD ($)			6 Months Ended
	Aug. 03, 2017	Aug. 04, 2015	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Summary of Significant Accounting Policies (Textual)
Number of outstanding warrants to purchase of common stock			14,170,000		14,170,000
Federal depository insurance coverage			$ 250,000
Deferred tax assets related to net loss carryforwards			350,000	$ 225,000
Unrecognized tax benefits
Accrued interest and penalties related to unrecognized tax benefits
Net tangible assets			$ 5,000,001
Common stock excluding possible redemption, shares			14,364,041	14,428,805
Net operating loss carryforwards, expiration date			Dec. 31, 2035
Business combination related costs			$ 2,900,000
Public Offering [Member]
Summary of Significant Accounting Policies (Textual)
Number of units sold in proposed offering		15,525,000	15,525,000
Subsequent Event [Member]
Summary of Significant Accounting Policies (Textual)
Stock redeemed or called during period shares	3,416,480

XML 29 R18.htm IDEA: XBRL DOCUMENT

Public Offering (Details) - USD ($)		6 Months Ended
Public Offering (Details) - USD ($)	Aug. 04, 2015	Jun. 30, 2017	Dec. 31, 2016
Public Offering (Textual)
Gross proceeds from public offering		$ 155,250,000
Deferred underwriting compensation		4,658,000	$ 4,658,000
Private placement value		$ 6,408,000
Public Offering [Member]
Public Offering (Textual)
Number of units sold in proposed offering	15,525,000	15,525,000
Gross proceeds from public offering	$ 155,250,000
Sale of common stock, price per share	$ 10.00
Description of unit	Each Unit consists of one share of the Company's common stock, $0.0001 par value and one redeemable common stock purchase warrant (the "Warrants").
Warrant, description	Each Warrant entitles the holder to purchase one-half of one share of common stock at a price of $5.75.
Description of warrant exercisable	Each Warrant will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Public Offering and will expire five years after the completion of the Initial Business Combination or earlier upon redemption or liquidation. However, if the Company does not complete the Initial Business Combination on or prior to the period allotted to complete the Initial Business Combination (November 6, 2017 or February 5, 2018 if the Company has executed a definitive agreement for an initial business combination by November 6, 2017), the Warrants will expire at the end of such period. The Company has agreed to use its best efforts following the completion of the Initial Business Combination to file a new registration statement under the Securities Act, to cover the shares of common stock issuable upon the exercise of the warrants. If the Company is unable to deliver registered shares of common stock to the holder upon exercise of the Warrants issued as part of the 15,525,000 Units during the exercise period, there will be no net cash settlement of these Warrants and the Warrants will expire worthless, unless they are exercised on a cashless basis in the circumstances described in the warrant agreement. Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days' prior written notice of redemption, only in the event that the last sale price of the Company's shares of common stock equals or exceeds $24.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Warrant holders.
Underwriters discount, description	The Company paid an underwriting discount of 3% of the gross proceeds of the Public Offering to the underwriters at the closing of the Public Offering (approximately $4,658,000), with an additional fee (the "Deferred Discount") of 3% of the gross proceeds payable upon the Company's completion of the Initial Business Combination. The Deferred Discount will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes the Initial Business Combination.
Percentage of deferred discount	3.00%
Exercise price of warrants	$ 0.01
Underwriting discount	3.00%
Private Placement [Member]
Public Offering (Textual)
Exercise price of warrants	$ 0.50
Private placement value	$ 6,408,000
Purchase of warrants	12,815,000

XML 30 R19.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details) - USD ($)			1 Months Ended	6 Months Ended
Related Party Transactions (Details) - USD ($)	Jan. 12, 2017	Aug. 04, 2015	May 31, 2015	Jun. 30, 2017	Jan. 31, 2017
Related Party Transactions (Textual)
Administrative services				$ 50,000
Aggregate principal amount	$ 1,200,000
Borrowed debt amount					$ 1,200,000
Share price per share					$ 10.00
Interest rate per annum	7.50%
Private placement value				6,408,000
Unpaid administrative services charges				50,000
Private Placement [Member]
Related Party Transactions (Textual)
Exercise price of warrants		$ 0.50
Private placement value		$ 6,408,000
Purchase of warrants		12,815,000
Private Placement Warrants [Member]
Related Party Transactions (Textual)
Business combination, description		The Private Placement Warrants (including the common stock issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or salable until 30 days after the completion of the Initial Business Combination and they are non-redeemable so long as they are held by the Sponsor or its permitted transferees.
Warrant description		Each Private Placement Warrant entitles the holder to purchase one-half of one share of common stock at $5.75 per share.
Founder Shares [Member]
Related Party Transactions (Textual)
Purchase of common stock shares			3,881,250
Purchase of common stock shares, value			$ 25,000
Sale of common stock, price per share			$ 0.006
Shares forfeited			506,250
Ownership percentage			20.00%
Business combination, description			(A) one year after the completion of the Initial Business Combination, or earlier if, subsequent to the Initial Business Combination, the last sale price of the Company's common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Initial Business Combination or (B) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction after the Initial Business Combination that results in all of the Company's stockholders having the right to exchange their shares of common stock for cash, securities or other property.
Sponsor [Member]
Related Party Transactions (Textual)
Administrative services				$ 10,000

XML 31 R20.htm IDEA: XBRL DOCUMENT

Trust Account and Fair Value Measurement (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Government Treasury Bills	$ 155,780,000	$ 155,542,000
U.S. Government Treasury Bills, Gross Unrealized Holding Gain	(5,000)	(15,000)
Cash	1,000	1,000
Cash, Gross Unrealized Holding Gain
Total	155,781,000	155,543,000
Total, Gross Unrealized Holding Gain	(5,000)	(15,000)
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Government Treasury Bills	155,775,000	155,527,000
Cash	1,000	1,000
Total	$ 155,776,000	$ 155,528,000

XML 32 R21.htm IDEA: XBRL DOCUMENT

Trust Account and Fair Value Measurement (Details Textual) - USD ($)		3 Months Ended		6 Months Ended
	Aug. 03, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Trust Account and Fair Value Measurement (Textual)
Cash deposited in trust account		$ 155,250,000		$ 155,250,000
U.S. government treasury bills maturity, description				U.S. government treasury bills with a maturity of 180 days or less
Cash		1,000		$ 1,000		$ 1,000
Tax payable to trust account		$ 202,000	$ 61,000	$ 202,000	$ 61,000
Stock redemption, per share		$ 10.03		$ 10.03		$ 10.03
Subsequent Event [Member]
Trust Account and Fair Value Measurement (Textual)
Stock redeemed during period, shares	3,416,480
Stock redeemed during period value	$ 34,269,000
Stock redemption, per share	$ 10.03
Stock after redeemed during period value	$ 121,563,000
Proceeds from tax payable	$ 58,000

XML 33 R22.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Details) - shares		6 Months Ended
Stockholders' Equity (Details) - shares	Aug. 03, 2017	Jun. 30, 2017	Dec. 31, 2016
Stockholders' Equity (Textual)
Common stock, shares authorized		35,000,000	35,000,000
Common stock, shares issued		5,042,209	4,977,445
Common stock, shares outstanding		5,042,209	4,977,445
Common stock, voting rights, Description		Holders of the Company's common stock are entitled to one vote for each share of common stock they own.
Preferred stock, shares authorized		1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock including possible redemption share		14,364,041	14,428,805
Common Stock [Member]
Stockholders' Equity (Textual)
Common stock, shares issued		19,406,250	19,406,250
Common stock, shares outstanding		19,406,250	19,406,250
Subsequent Event [Member]
Stockholders' Equity (Textual)
Stock Redeemed or Called During Period, Shares	3,416,480
Subsequent Event [Member] \| Maximum [Member]
Stockholders' Equity (Textual)
Common stock, shares outstanding	19,406,250
Subsequent Event [Member] \| Minimum [Member]
Stockholders' Equity (Textual)
Common stock, shares outstanding	15,989,770

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