XML 26 R43.htm IDEA: XBRL DOCUMENT v3.19.3
Shareholder's Equity and Dividends (Details Textual)
3 Months Ended 9 Months Ended
Aug. 23, 2018
Vote
$ / shares
shares
Sep. 30, 2019
USD ($)
Vote
$ / shares
shares
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Sep. 30, 2019
USD ($)
Vote
$ / shares
shares
Sep. 30, 2018
USD ($)
Dec. 31, 2018
$ / shares
shares
Shareholders Equity and Dividends (Textual)              
Distributions of non-controlling interest holders | $   $ 6,346,000 $ 7,397,000 $ 8,559,000 $ 22,300,000 $ 100,000  
Preferred stock, shares issued   0     0   0
Preferred stock, shares outstanding   0     0   0
Preferred stock, par value | $ / shares   $ 0.0001     $ 0.0001   $ 0.0001
Preferred stock, shares authorized   1,000,000     1,000,000   1,000,000
Subsidiaries [Member] | General Partner [Member] | OpCo [Member]              
Shareholders Equity and Dividends (Textual)              
Ownership percentage   100.00%     100.00%    
Subsidiaries [Member] | Limited Partner [Member] | OpCo [Member]              
Shareholders Equity and Dividends (Textual)              
Ownership percentage   53.00%     53.00%    
Warrants [Member]              
Shareholders Equity and Dividends (Textual)              
Stock issued common units to contributors         40,000,000    
Business combination, description         In addition to the above, the Contributors will be entitled to receive earn-out consideration to be paid in the form of OpCo Common Units (with a corresponding number of shares of Class C Common Stock) if the volume-weighted average price of the trading days during any thirty (30) calendar days (the “30-Day VWAP”) of the Class A Common Stock equals or exceeds certain hurdles set forth in the Contribution Agreement. If the 30-Day VWAP of the Class A Common Stock is $12.50 or more per share at any time within the seven years following the closing, Royal LP will receive (i) an additional 10 million OpCo Common Units (and an equivalent number of shares of Class C Common Stock), plus (ii) an amount of OpCo Common Units (and an equivalent number of shares of Class C Common Stock) equal to (x) the amount by which annual cash dividends paid on each share of Class A Common Stock exceeds $0.50 in each year between the closing and the date the first earn-out is achieved (with any dividends paid in the stub year in which the first earn-out is achieved annualized for purposes of determining what portion of such dividends would have, on an annual basis, exceeded $0.50), multiplied by 10 million, (y) divided by $12.50. If the 30-Day VWAP of the Class A Common Stock is $15.00 or more per share at any time within the seven years following the closing (which $15.00 threshold will be reduced by the amount by which annual cash dividends paid on each share of Class A Common Stock exceeds $0.50 in each year between the closing and the date the earn-out is achieved, but not below $12.50), the Contributors will receive an additional 10 million OpCo Common Units (and an equivalent number of Class C Common Stock). Upon recognition of the earn-out, as there is no consideration received, the Company would record the payment of the earn-out as adjustments through equity (non-controlling interest and additional-paid-in-capital).    
Consideration received | $         $ 0    
Warrants [Member] | Royal Entities [Member] | Subsidiaries [Member]              
Shareholders Equity and Dividends (Textual)              
Additional common units may be issued   10,000,000     10,000,000    
Private Placement Warrants [Member]              
Shareholders Equity and Dividends (Textual)              
Warrant outstanding, shares 7,500,000 7,500,000     7,500,000    
Warrants, description         Each Private Placement Warrant is exercisable for one share of Class A Common Stock at a price of $11.50. The Private Placement Warrants are identical to the Public Warrants discussed above, except (i) they will not be redeemable by the Company so long as they are held by the Sponsor and (ii) they may be exercisable by the holders on a cashless basis. At September 30, 2019, there were 7,500,000 Private Placement Warrants outstanding    
Warrants, number of common stocks purchased by each warrant 1            
Warrants, exercise price | $ / shares $ 1.00            
Warrant to purchase shares of common stock exercise price | $ / shares $ 11.50            
Private Placement [Member]              
Shareholders Equity and Dividends (Textual)              
Aggregate common shares         11,480,000    
Aggregate common shares purchase price | $ / shares   $ 10.00     $ 10.00    
Aggregate common shares amount | $   $ 114,800,000     $ 114,800,000    
Public Warrants [Member]              
Shareholders Equity and Dividends (Textual)              
Warrant outstanding, shares   13,749,999     13,749,999    
Warrants, description         Each Public Warrant entitles the holder to purchase one share of Class A Common Stock at a price of $11.50 per share. The Public Warrants will expire five years after the closing of the Transactions or earlier upon redemption or liquidation. The Company may call the Public Warrants for redemption, in whole and not in part, at a price of $0.01 per warrant with not less than 30 days’ notice provided to the Public Warrant holders. However, this redemption right can only be exercised if the last sale price of the Class A Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30-day trading period ending three business days before we send the notice of redemption to the Public Warrant holders    
Warrants, outstanding, term   5 years     5 years    
Redemption price per warrant | $ / shares   $ 0.01     $ 0.01    
Redemption of warrants notice period         30 days    
Redemption of warrants threshold consecutive trading days         20 days    
Public Warrants [Member] | Maximum [Member]              
Shareholders Equity and Dividends (Textual)              
Redemption Of Warrants Threshold Trading Days         30 days    
Class A common stock [Member]              
Shareholders Equity and Dividends (Textual)              
Common stock, shares issued   45,950,716     45,950,716   45,855,000
Common stock, shares outstanding   45,950,716     45,950,716   45,855,000
Common stock, shares authorized   240,000,000     240,000,000   240,000,000
Common stock, par value | $ / shares   $ 0.0001     $ 0.0001   $ 0.0001
Common stock voting, description         Holders of the Company’s Class A Common Stock are entitled to one vote for each share    
Common stock, number of votes per share | Vote   1     1    
Aggregate common shares purchase price | $ / shares   $ 0.0001     $ 0.0001    
Class A common stock [Member] | Royal Entities [Member]              
Shareholders Equity and Dividends (Textual)              
Common units redemption ratio 100.00%            
Class A common stock [Member] | Royal Entities [Member] | Subsidiaries [Member]              
Shareholders Equity and Dividends (Textual)              
Common units redemption ratio 100.00%            
Class A common stock [Member] | Warrants [Member]              
Shareholders Equity and Dividends (Textual)              
Common units redemption ratio         100.00%    
Class A common stock [Member] | Public Warrants [Member]              
Shareholders Equity and Dividends (Textual)              
Warrants, number of common stocks purchased by each warrant   1     1    
Warrants, exercise price | $ / shares   $ 11.50     $ 11.50    
Class A common stock [Member] | Public Warrants [Member] | Minimum [Member]              
Shareholders Equity and Dividends (Textual)              
Redemption of warrants common stock trigger price per share | $ / shares         $ 18.00    
Class C common stock [Member]              
Shareholders Equity and Dividends (Textual)              
Common stock, shares issued   40,000,000     40,000,000   40,000,000
Common stock, shares outstanding   40,000,000     40,000,000   40,000,000
Common stock, shares authorized   120,000,000     120,000,000   120,000,000
Common stock, par value | $ / shares   $ 0.0001     $ 0.0001   $ 0.0001
Common stock, number of votes per share | Vote   1     1    
Class C common stock [Member] | Royal Entities [Member]              
Shareholders Equity and Dividends (Textual)              
Common stock, number of votes per share | Vote 1            
Aggregate common shares 40,000,000