Investment Held in Trust Account

3 Months Ended

Mar. 31, 2018

Investment Held In Trust Account

Investment Held in Trust Account

Note 6 —Investment Held in Trust Account

As of March 31, 2018, investment in the Company’s Trust Account consisted of $8,940 in United States Money Market, $12,671 in cash and $207,403,682 in U.S. Treasury Securities. As of December 31, 2017, investment in the Company’s Trust Account consisted of $8,940 in United States Money Market and $206,776,908 in U.S. Treasury Securities. The Company classifies its United States Treasury and equivalent securities as held-to-maturity in accordance with FASB ASC 320 “Investments — Debt and Equity Securities”. Held-to-maturity treasury securities are recorded at amortized cost and adjusted for the amortization or accretion of premiums or discounts. The Company considers all investments with original maturities of more than three months but less than one year to be short-term investments. The carrying value approximates the fair value due to the short term maturity. As of March 31, 2018 and December 31, 2017, cash and investments held in trust account is $207,425,293 and $206,785,848, respectively. The carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities on March 31, 2018 and December 31, 2017 are as follows:

	Carrying Value as of March 31, 2018		Gross Unrealized Holding Loss			Fair Value as of March 31, 2018
U.S. Money Market	$	8,940	$	—		$	8,940
Cash		12,671					12,671
U.S. Treasury Securities		207,403,682		(40,545	)		207,363,137
	$	207,425,293	$	(40,545	)	$	207,384,748

	Carrying Value as of December 31, 2017		Gross Unrealized Holding Loss			Fair Value as of December 31, 2017
U.S. Money Market	$	8,940	$	—		$	8,940
U.S. Treasury Securities		206,776,908		(70,639	)		206,706,269
	$	206,785,848	$	(70,639	)	$	206,715,209

During the three months ended March 31, 2018, the Company sold the U.S. Treasury Securities in a net carrying value of $207,176,263 for a total cash of $207,078,506. The Company recorded a realized loss from sale of investment in the amount of $97,758 accordingly.