0001144204-18-062209.txt : 20181129 0001144204-18-062209.hdr.sgml : 20181129 20181129123154 ACCESSION NUMBER: 0001144204-18-062209 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 40 CONFORMED PERIOD OF REPORT: 20180930 FILED AS OF DATE: 20181129 DATE AS OF CHANGE: 20181129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Graf Industrial Corp. CENTRAL INDEX KEY: 0001745317 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-38703 FILM NUMBER: 181207622 BUSINESS ADDRESS: STREET 1: 118 VINTAGE PARK BLVD STREET 2: SUITE W-222 CITY: HOUSTON STATE: TX ZIP: 77070 BUSINESS PHONE: 3107458669 MAIL ADDRESS: STREET 1: 118 VINTAGE PARK BLVD STREET 2: SUITE W-222 CITY: HOUSTON STATE: TX ZIP: 77070 10-Q 1 tv507847_10q.htm FORM 10-Q

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 10-Q

  

 

 

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

 

For the quarterly period ended September 30, 2018

 

OR

 

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

 

For the transition period from                      to

  

 

 

GRAF INDUSTRIAL CORP.

(Exact name of registrant as specified in its charter)

  

 

 

Delaware 001-38703 83-1138508

(State or other jurisdiction of

incorporation or organization) 

(Commission

File Number) 

(I.R.S. Employer

Identification Number) 

 

118 Vintage Park Blvd., Suite W-222

Houston, Texas 

 77070
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (281) 515-3517

 

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  x

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files).    Yes  x    No  ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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 x Smaller reporting company x
       
Emerging growth company x    

 

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  x    No  ¨

 

As of November 29, 2018, 30,470,640 shares of common stock, par value $0.0001 per share were issued and outstanding.

 

 

 

 

 

GRAF INDUSTRIAL CORP. 

Form 10-Q

Table of Contents

 

Page
PART I. FINANCIAL INFORMATION  
     
Item 1. Financial Statements  
     
  Condensed Balance Sheet as of September  30, 2018 (Unaudited) 3
     
  Condensed Statements of Operations for the three months ended September 30, 2018 and for the period from June 26, 2018 (inception) through September 30, 2018 (Unaudited) 4
       
  Statement of Changes in Stockholder’s Equity for the period from June 26, 2018 (inception) through September 30, 2018 (Unaudited) 5
     
  Condensed Statements of Cash Flows for the period from June 26, 2018 (inception) through September 30, 2018 (Unaudited) 6
     
  Notes to Condensed Financial Statements (Unaudited) 7
     
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 16
     
Item 3. Quantitative and Qualitative Disclosures About Market Risk 20
     
Item 4. Controls and Procedures 20
   
PART II. OTHER INFORMATION  
     
Item 1. Legal Proceedings 21
     
Item 1A. Risk Factors 21
     
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 21
     
Item 3. Defaults Upon Senior Securities 21
     
Item 4. Mine Safety Disclosures 21
     
Item 5. Other Information 21
     
Item 6. Exhibits 21

 

 

 

 

PART I. FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

GRAF INDUSTRIAL CORP. 

CONDENSED BALANCE SHEET

SEPTEMBER 30, 2018

(UNAUDITED)

 

Assets:     
Current asset - Cash  $19,281 
Deferred offering costs   230,331 
Total Assets  $249,612 
      
Liabilities and Stockholder's Equity:     
Current liabilities:     
Accounts payable  $3,044 
Accrued expenses   103,500 
Note payable and advance - related parties   130,100 
Total current liabilities   236,644 
      
Stockholder's Equity:     
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   - 
Common stock, $0.0001 par value; 400,000,000 shares authorized; 6,468,750 shares issued and outstanding (1)   647 
Additional paid-in capital   24,353 
Accumulated deficit   (12,032)
Total stockholder's equity   12,968 
Total Liabilities and Stockholder's Equity  $249,612 

 

(1)Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.

 

The accompanying notes are an integral part of these financial statements.

 

3

 

 

GRAF INDUSTRIAL CORP. 
CONDENSED STATEMENTS OF OPERATIONS 

(UNAUDITED)

 

       For The Period From 
   For the Three Months Ended   June 26, 2018 (inception) 
   September 30, 2018   through September 30, 2018 
Formation and operating costs  $3,214   $12,032 
Net loss  $(3,214)  $(12,032)
           
Weighted average shares outstanding, basic and diluted (1)   6,094,128    6,094,128 
Basic and diluted net loss per share  $(0.00)  $(0.00)

 

(1)Excludes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.

 

The accompanying notes are an integral part of these financial statements.

 

4

 

 

GRAF INDUSTRIAL CORP. 
STATEMENT OF CHANGES IN STOCKHOLDER’S EQUITY 
FOR THE PERIOD FROM JUNE 26, 2018 (INCEPTION) Through SEPTEMBER 30, 2018

(UNAUDITED)

  

                   Total 
   Common Stock   Additional Paid-In   Accumulated   Stockholder's 
   Shares   Amount   Capital   Deficit   Equity 
Balance - June 26, 2018 (inception)   -   $-   $-   $-   $- 
Issuance of common stock to Sponsor (1)   6,468,750    647    24,353    -    25,000 
Net loss   -    -    -    (12,032)   (12,032)
Balance - September 30, 2018 (unaudited)   6,468,750   $647   $24,353   $(12,032)  $12,968 

 

(1)Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.

 

The accompanying notes are an integral part of these financial statements.

 

5

 

 

GRAF INDUSTRIAL CORP. 
CONDENSED STATEMENT OF CASH FLOWS 
FOR THE PERIOD FROM JUNE 26, 2018 (INCEPTION) ThrOugh SEPTEMBER 30, 2018

(UNAUDITED)

 

Cash Flows from Operating Activities:     
Net loss  $(12,032)
Adjustments to reconcile net loss to net cash used in operating activities:     
Formation and operating costs paid by Sponsor in exchange for issuance of common stock   8,500 
Changes in operating assets and liabilities:     
Accounts payable   2,177 
Net cash used in operating activities   (1,355)
      
Cash Flows from Financing Activities:     
Proceeds from note payable from related parties   130,100 
Payment of offering costs   (109,464)
Net cash provided by financing activities   20,636 
      
Net change in cash   19,281 
      
Cash - beginning of the period   - 
Cash - end of the period  $19,281 
      
Supplemental disclosure of noncash activities:     
Deferred offering costs paid by Sponsor in exchange for issuance of common stock  $16,500 
Deferred offering costs included in accounts payable  $867 
Deferred offering costs included in accrued expenses  $103,500 

 

The accompanying notes are an integral part of these financial statements.

 

6

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

Note 1 — Description of Organization and Business Operations

 

Graf Industrial Corp. (the “Company”) is a blank check company incorporated in Delaware on June 26, 2018. 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 “Business Combination”).

 

The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.

 

As of September 30, 2018, the Company had not commenced any operations. All activity for the period from June 26, 2018 (inception) through September 30, 2018 relates to the Company’s formation and preparation for the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

 

The registration statement for the Company's Initial Public Offering was declared effective on October 15, 2018. On October 18, 2018, the Company consummated the Initial Public Offering of 22,500,000 units (the "Units" and, with respect to the shares of common stock included in the Units offered, the "Public Shares"), generating gross proceeds of $225 million, and incurred underwriting commissions of $4.5 million. On October 25, 2018, the Company consummated the closing of the sale of 1,876,512 additional Units upon receiving notice of the underwriters' election to partially exercise their overallotment option (the "Over-allotment"), generating additional gross proceeds of approximately $18.8 million, and incurred additional underwriting commissions of $375,302 (Note 3).

 

Simultaneously with the closing of the Initial Public Offering and the Over-allotment, the Company consummated the private placement (“Private Placement”) of 14,150,605 warrants (the “Private Placement Warrants”) at a price of $0.50 per Private Placement Warrant, with the Sponsor, generating gross proceeds of approximately $7.08 million (Note 4).

 

Upon the closing of the Initial Public Offering, the Over-allotment and the Private Placement, approximately $243.8 million ($10.00 per Unit) of the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Trust Account”). The proceeds held in the Trust Account will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company’s Second Amended and Restated Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”) to modify the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination within 18 months from the closing of its Initial Public Offering or to provide for redemption in connection with a Business Combination and (iii) the redemption of the Company’s Public Shares if the Company is unable to complete a Business Combination within 18 months from the closing of its Initial Public Offering, subject to applicable law.

 

Upon the closing of the Initial Public Offering, the Private Placement and the Over-allotment, the Company had approximately $1.99 million in cash held outside of the Trust Account. The Company's management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, the Over-allotment and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. New York Stock Exchange ("NYSE") rules require that the initial Business Combination must occur with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the Trust Account (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any deferred underwriting commissions). The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act.

 

7

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

The Company will provide its holders of the outstanding Public Shares (the “public stockholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The Public Shares subject to redemption were recorded at a redemption value and classified as temporary equity in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” The Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to the Amended and Restated Certificate of Incorporation, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks stockholder approval in connection with a Business Combination, the Company’s Sponsor, officers and directors have agreed to vote their Founder Shares (as defined below in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction.

 

The Sponsor and the Company’s officers and directors have agreed (a) to waive their redemption rights with respect to their Founder Shares and Public Shares held by them in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination or to provide for redemption in connection with a Business Combination, unless the Company provides the public stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment.

 

If the Company is unable to complete a Business Combination within 18 months from the closing of the Initial Public Offering (by April 18, 2020) (the “Combination Period”), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period.

 

8

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

The Sponsor and the Company's officers and directors have agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the officers, directors, the Sponsor or any of its members or their affiliates acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. Pursuant to the terms of the business combination marketing agreement (see Note 6), no fee will be payable if the Company does not complete a Business Combination. In the event that the Company does not complete a Business Combination and subsequently liquidates, the amount of such fee will be included with the funds held in the trust account that will be available to fund the redemption of Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00).

 

In order to protect the amounts held in the Trust Account, the Sponsor has agreed to indemnify the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of  (i) $10.00 per Public Share or (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations. None of the Company’s officers or directors will indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company's independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

 

Note 2 — Summary of Significant Accounting Policies

 

Basis of Presentation

 

The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the period from June 26, 2018 (inception) through September 30, 2018 are not necessarily indicative of the results that may be expected through December 31, 2018.

 

The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on October 16, 2018, the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018, and with the pro forma balance sheet included in the Form 8-K filed by the Company with the SEC on October 31, 2018.

 

Emerging Growth Company

 

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

 

9

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

Further, 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 Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth 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 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. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

 

Use of Estimates

 

The preparation of the financial statements in conformity with U.S. 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, and the reported amounts of expenses during the periods.

 

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

 

Deferred Offering Costs

 

Deferred offering costs consist of legal and accounting fees and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Offering costs were charged to stockholders’ equity upon the completion of the Initial Public Offering in October 2018.

 

Net Loss Per Common Share

 

Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture by the Sponsor. Weighted average shares were reduced for the effect of an aggregate of 374,622 shares of common stock that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. At September 30, 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented.

 

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.

 

10

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2018. 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 since inception.

 

The provision for income taxes was deemed to be immaterial for the period from June 26, 2018 (inception) to September 30, 2018.

 

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. At September 30, 2018, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

 

Fair Value of 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 balance sheet, primarily due to their short-term nature.

 

Recent Accounting Pronouncements

 

In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. The Company anticipates its first presentation of changes in stockholders' equity, in accordance with the new guidance, will be included in its Form 10-Q for the quarter ended March 31, 2019.

 

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

 

Note 3 — Initial Public Offering

 

The Company sold an aggregate of 24,376,512 Units, including 1,876,512 Units upon the underwriters’ election to partially exercise their overallotment option, at a price of $10.00 per Unit in the Initial Public Offering. Each Unit consists of one share of common stock and one redeemable warrant (“Public Warrant”). Each Public Warrant entitles the holder to purchase one-half of one share of common stock at a price of $11.50 per whole share, provided that if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering, each Public Warrant will entitle the holder thereof to purchase three-quarters of one share of common stock at a price of $11.50 per whole share, subject to adjustment in either case (see Note 7). The Private Placement Warrants and the Public Warrants were classified as a liability at issuance due to this potential adjustment to the settlement amount (see the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018).

 

11

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

Note 4 — Private Placement

 

Concurrently with the closing of the Initial Public Offering and the Over-allotment, the Sponsor purchased an aggregate of 14,150,605 Private Placement Warrants at a price of $0.50 per Private Placement Warrant, for an aggregate purchase price of approximately $7.08 million. Each Private Placement Warrant has the same terms as the Public Warrants. A portion of the net proceeds from the sale of the Private Placement Warrants were added to the proceeds from the Initial Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds of the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Placement Warrants and all underlying securities will expire worthless. The Sponsor has agreed not to transfer, assign or sell any of the Private Placement Warrants until the date that is 30 days after the completion of a Business Combination.

 

Note 5 — Related Party Transactions

 

Founder Shares

 

On June 26, 2018, the Sponsor purchased 8,625,000 shares (the “Founder Shares”) of the Company’s common stock for an aggregate price of $25,000. On September 13, 2018, the Sponsor returned to the Company, at no cost, 2,156,250 shares of common stock, which the Company cancelled, resulting in the Sponsor holding 6,468,750 Founder Shares. On October 9, 2018, the Sponsor transferred 25,000 Founder Shares at the same per-share price paid by the Sponsor to each of Keith Abell and Sabrina McKee, two of the Company’s directors (then director-nominees), resulting in the Sponsor holding 6,418,750 Founder Shares.

 

The Founder Shares include an aggregate of up to 843,750 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment is not exercised in full or in part, so that the Sponsor will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercise their over-allotment option; thus, an aggregate of 374,622 Founder Shares were forfeited.

 

The Sponsor has agreed, subject to certain limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A) one year after the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last sale price of the 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 a Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction 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.

 

Related Party Loans

 

As of September 30, 2018, the Sponsor had loaned the Company an aggregate of $130,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “Promissory Note”) and James A. Graf had advanced the Company $100 in connection with the initial establishment of a bank account. The Promissory Note and the advance from James A. Graf were non-interest bearing. The Company repaid the Promissory Note and the advances to James A. Graf on October 18, 2018.

 

In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into additional warrants at a price of $0.50 (or $0.75 if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering) per warrant. As of September 30, 2018, there were no Working Capital Loans under this arrangement.

 

12

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

Administrative Support Agreement

 

The Company agreed commencing on the effective date of the Initial Public Offering through the earlier of the Company’s consummation of a Business Combination and its liquidation, to reimburse an affiliate of its Sponsor up to $5,000 per month for office space, utilities and secretarial and administrative support on an at-cost basis to the extent such office space, utilities and support is not contracted with the Company directly.

 

Note 6 — Commitments and Contingencies

 

Registration Rights

 

The holders of the Founder Shares, Private Placement Warrants (and any shares of common stock issuable upon the exercise of the Private Placement Warrants), and securities that may be issued upon conversion of Working Capital Loans will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of Initial Public Offering, requiring the Company to register such securities for resale. The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

 

Underwriting Agreement

 

The Company granted the underwriters a 45-day option from the date of the prospectus relating to the Initial Public Offering to purchase up to 3,375,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. The underwriters partially exercised this option on October 25, 2018 to purchase 1,876,512 additional Units.

 

The underwriters were entitled to a cash underwriting discount of $0.20 per Unit, or approximately $4.88 million in the aggregate, which was paid upon the closing of the Initial Public Offering.

 

Business Combination Marketing Agreement

 

The Company has engaged EarlyBirdCapital and Oppenheimer & Co. Inc. as advisors in connection with the Business Combination. The Company will pay EarlyBirdCapital and Oppenheimer & Co. Inc. for such services upon the consummation of the Business Combination (i) a cash fee in an amount equal to 3.5% of the gross proceeds of the Initial Public Offering (exclusive of any applicable finders’ fees which might become payable) an amount equal to up to 40% of which may, in the Company’s discretion, be allocated by the Company to other FINRA members, plus (ii) 150,000 shares of common stock to be issued to EarlyBirdCapital and/or its designees. EarlyBirdCapital and/or its designees will be entitled to registration rights requiring the Company to register such shares for resale. The Company has agreed to use its best efforts to effect such registration in connection with the consummation of the Business Combination or, if not then reasonably practicable, to use the Company’s best efforts to file a registration statement covering such shares within 15 days of the closing of the Business Combination. Pursuant to the terms of the business combination marketing agreement, no fee will be due if the Company does not complete a Business Combination.

 

13

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

Note 7 — Stockholder’s Equity

 

Preferred Stock — The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At September 30, 2018, there were no shares of preferred stock issued or outstanding.

 

Common Stock — The Company is authorized to issue 400,000,000 shares of common stock with a par value of $0.0001 per share. Holders of shares of common stock are entitled to one vote for each share. At September 30, 2018, there were 6,468,750 shares of common stock issued or outstanding, of which an aggregate of up to 843,750 shares are subject to forfeiture to the extent that the underwriters’ over-allotment option is not exercised in full or in part so that the Sponsor will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercised their over-allotment option; thus, an aggregate of 374,622 shares of common stock were forfeited.

 

Warrants — Public Warrants may only be exercised for a whole number of shares. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months from the closing of the Initial Public Offering; provided in each case that the Company has an effective registration statement under the Securities Act covering the shares of common stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available. The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of a Business Combination, the Company will use its best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares of common stock issuable upon exercise of the Public Warrants. The Company will use its best efforts to cause the same to become effective and to maintain a current prospectus relating to those shares of common stock until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the shares of common stock issuable upon exercise of the warrants is not effective by the 60th business day after the closing of a Business Combination, warrantholders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants on a cashless basis. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation.

 

Once the warrants become exercisable, the Company may redeem the Public Warrants:

 

•in whole and not in part;

 

•at a price of $0.01 per warrant;

 

•upon not less than 30 days’ prior written notice of redemption; and

 

•if, and only if, the reported last sale price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrantholders.

 

•If, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.

  

The Private Placement Warrants will be identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that the Private Placement Warrants and the common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. The Private Placement Warrants will be redeemable by the Company on the same basis as the Public Warrants.

 

14

 

 

GRAF INDUSTRIAL CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

 

If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance of common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.

 

Note 8 — Subsequent Events

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statement was available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statement.

 

15

 

 

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

 

References to the “Company,” “our,” “us” or “we” refer to Graf Industrial Corp. The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the unaudited condensed financial statements and the notes thereto contained elsewhere in this report. Certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties.

 

Cautionary Note Regarding Forward-Looking Statements

 

This Quarterly Report on Form 10-Q includes, and oral statements made from time to time by representatives of the Company may include, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this Form 10-Q. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in our other Securities and Exchange Commission (“SEC”) filings.

 

Overview

 

We are a blank check company incorporated in Delaware on June 26, 2018 and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses that the Company has not yet identified (“business combination”). We are not limited to a particular industry or sector for purposes of consummating a Business Combination. Our sponsor is Graf Acquisition LLC, a Delaware limited liability company (the “Sponsor”).

 

Our registration statement for the initial public offering (the "Initial Public Offering") was declared effective on October 15, 2018. On October 18, 2018, we consummated the Initial Public Offering of 22,500,000 units (the "Units" and, with respect to the shares of common stock included in the Units offered, the "Public Shares"), generating gross proceeds of $225 million and incurred underwriting commissions of $4.5 million. On October 25, 2018, we consummated the closing of the sale of 1,876,512 additional Units upon receiving notice of the underwriters' election to partially exercise their overallotment option (the "Over-allotment"), generating additional gross proceeds of approximately $18.8 million, and incurring $375,302 in underwriting commissions.

 

Simultaneously with the closing of the Initial Public Offering and the Over-allotment,we consummated the private placement (“Private Placement”) of 14,150,605 warrants (the “Private Placement Warrants”) at a price of $0.50 per Private Placement Warrant, with our Sponsor, Graf Acquisition LLC, a Delaware limited liability company (the “Sponsor”), generating gross proceeds of approximately $7.08 million.

 

Upon the closing of the Initial Public Offering, the Over-allotment and the Private Placement, approximately $243.8 million ($10.00 per Unit) of the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Trust Account”). The proceeds held in the Trust Account will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by us meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by us, until the earlier of: (i) the completion of a Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend our Second Amended and Restated Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”) to modify the substance or timing of our obligation to redeem 100% of its Public Shares if we do not complete a Business Combination within 18 months from the closing of its Initial Public Offering or to provide for redemption in connection with a Business Combination and (iii) the redemption of our Public Shares if the Company is unable to complete a Business Combination within 18 months from the closing of its Initial Public Offering, subject to applicable law.

 

16

 

 

In order to protect the amounts held in the Trust Account, our Sponsor had agreed to be liable to us if and to the extent any claims by a third party for services rendered or products sold to us, or a prospective target business with which we have entered into a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of  (i) $10.00 per Public Share or (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, we have not asked the Sponsor to reserve for such indemnification obligations, nor have we independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor’s only assets are securities of ours. Therefore, we cannot assure that the Sponsor would be able to satisfy those obligations. None of our officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective target businesses. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims. We will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which we do business, execute agreements with us waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

 

Our management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, the Over-Allotment, and the Private Placement, although substantially all of the net proceeds are intended to be applied toward consummating a Business Combination.

 

Results of Operations

 

Our entire activity since inception up to September 30, 2018 related to our formation, commencement of the Initial Public Offering, and we will not be generating any operating revenues until the closing and completion of our initial Business Combination. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

 

For the three months ended September 30, 2018, we had a net loss of approximately $3,000, which consists solely of formation and operating costs.

 

For the period from June 26, 2018 (inception) through September 30, 2018, we had a net loss of approximately $12,000, which consists solely of formation and operating costs.

 

Liquidity and Capital Resources

 

As indicated in the accompanying financial statements, at September 30, 2018, we had approximately $19,000 in our operating bank account and working capital deficit of approximately $217,000.

 

Through September 30, 2018, our liquidity needs have been satisfied through receipt of a $25,000 capital contribution from our Sponsor in exchange for the issuance of the founder shares to our Sponsor, and $130,100 in loans and advances from our Sponsor and officer. We repaid the Promissory Note and the advances to James A. Graf on October 18, 2018.

 

In addition, in order to finance transaction costs in connection with a business combination, the Sponsor or an affiliate of the sponsor, or certain of our officers and directors may, but are not obligated to, loan us funds as may be required (“Working Capital Loans”). As of September 30, 2018, there were no Working Capital Loans under this arrangement.

 

17

 

 

Related Party Transactions

 

Founder Shares

 

On June 26, 2018, the Sponsor purchased 8,625,000 shares (the “Founder Shares”) of our common stock for an aggregate price of $25,000. On September 13, 2018, the Sponsor returned to us, at no cost, 2,156,250 shares of common stock, which we cancelled, resulting in the Sponsor holding 6,468,750 Founder Shares. On October 9, 2018, the Sponsor transferred 25,000 Founder Shares at the same per-share price paid by the Sponsor to each of Keith Abell and Sabrina McKee, two of our directors (then director-nominees), resulting in the Sponsor holding 6,418,750 Founder Shares.

 

The Founder Shares include an aggregate of up to 843,750 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment is not exercised in full or in part, so that the Sponsor will own, on an as-converted basis, 20% of our issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercise their over-allotment option; thus, an aggregate of 374,622 Founder Shares were forfeited.

 

The Sponsor has agreed, subject to certain limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A) one year after the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last sale price of the 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 a Business Combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange or other similar transaction that results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property.

 

Private Placement

 

Simultaneously with the closing of the Initial Public Offering and the Over-allotment, we consummated the Private Placement of 14,150,605 Private Placement Warrants at a price of $0.50 per Private Placement Warrant, with the Sponsor generating gross proceeds of approximately $7.08 million. The Private Placement Warrants have the same terms as the warrants sold as components of the Units in the Initial Public Offering. Each Private Placement Warrant is exercisable for one-half of one share of common stock at a price of $11.50 per whole share, provided that if we have not consummated a Business Combination within 15 months from the closing of the Initial Public Offering, each Private Placement Warrant will entitle the holder thereof to purchase three-quarters of one share of common stock at a price of $11.50 per whole share, subject to adjustment in either case. A portion of the proceeds from the sale of the Private Placement Warrants was added to the proceeds from the Initial Public Offering to be held in the Trust Account. If we do not complete a Business Combination within the Combination Period, the Private Placement Warrants will expire worthless.

 

Related Party Loans

 

As of September 30, 2018, the Sponsor had loaned us an aggregate of $130,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “Promissory Note”) and James A. Graf had advanced us $100 in connection with the initial establishment of a bank account. The Promissory Note and the advance from James A. Graf were non-interest bearing. We repaid the Promissory Note and the advances to James A. Graf on October 18, 2018.

 

In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of our officers and directors may, but are not obligated to, loan us funds as may be required (“Working Capital Loans”). If we complete a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to us. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, we may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into additional warrants at a price of $0.50 (or $0.75 if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering) per warrant. As of September 30, 2018, there were no Working Capital Loans under this arrangement.

 

Administrative Support Agreement

 

We agreed commencing on the effective date of the Initial Public Offering through the earlier of our consummation of a Business Combination and its liquidation, to reimburse an affiliate of its Sponsor up to $5,000 per month for office space, utilities and secretarial and administrative support on an at-cost basis to the extent such office space, utilities and support is not contracted with us directly.

 

18

 

 

Contractual Obligations

 

Registration Rights

 

The holders of the Founder Shares, Private Placement Warrants (and any shares of common stock issuable upon the exercise of the Private Placement Warrants), and securities that may be issued upon conversion of Working Capital Loans will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of Initial Public Offering, requiring us to register such securities for resale. The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period. We will bear the expenses incurred in connection with the filing of any such registration statements.

 

Underwriting Agreement

 

We granted the underwriters a 45-day option from the date of the prospectus relating to the Initial Public Offering to purchase up to 3,375,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. The underwriters partially exercised this option on October 25, 2018 to purchase 1,876,512 additional Units.

 

The underwriters were entitled to a cash underwriting discount of $0.20 per Unit, or approximately $4.88 million in the aggregate, which was paid upon the closing of the Initial Public Offering.

 

Business Combination Marketing Agreement

 

We have engaged EarlyBirdCapital and Oppenheimer & Co. Inc. as advisors in connection with the Business Combination. We will pay EarlyBirdCapital and Oppenheimer & Co. Inc. for such services upon the consummation of the Business Combination (i) a cash fee in an amount equal to 3.5% of the gross proceeds of the Initial Public Offering (exclusive of any applicable finders’ fees which might become payable) an amount equal to up to 40% of which may, in our discretion, be allocated by us to other FINRA members, plus (ii) 150,000 shares of common stock to be issued to EarlyBirdCapital and/or its designees. EarlyBirdCapital and/or its designees will be entitled to registration rights requiring us to register such shares for resale. We have agreed to use its best efforts to effect such registration in connection with the consummation of the Business Combination or, if not then reasonably practicable, to use our best efforts to file a registration statement covering such shares within 15 days of the closing of the Business Combination. Pursuant to the terms of the business combination marketing agreement, no fee will be due if we do not complete a Business Combination.

 

Recent Accounting Pronouncements

 

In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. We anticipate our first presentation of changes in stockholders' equity, in accordance with the new guidance, will be included in its Form 10-Q for the quarter ended March 31, 2019.

 

19

 

 

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

  

Off-Balance Sheet Arrangements

 

As of September 30, 2018, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations.

 

JOBS Act

 

On April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We will qualify as an “emerging growth company” and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As such, our financial statements may not be comparable to companies that comply with public company effective dates.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk

 

As of September 30, 2018, we were not subject to any market or interest rate risk. Following the consummation of our Initial Public Offering, the net proceeds of our Initial Public Offering, including amounts in the Trust Account, were invested in U.S. government treasury bills, notes or bonds or in certain money market funds that invest solely in direct U.S. government treasury obligations. Due to the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.

 

We have not engaged in any hedging activities since our inception and we do not expect to engage in any hedging activities with respect to the market risk to which we are exposed.

 

Item 4. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

Under the supervision and with the participation of our management, including our principal executive officer and principal financial and accounting officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal quarter ended September 30, 2018, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our chief executive officer and chief financial officer have concluded that during the period covered by this report, our disclosure controls and procedures were effective.

 

Disclosure controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 

Changes in Internal Control over Financial Reporting

 

There was no change in our internal control over financial reporting that occurred during the quarter ended September 30, 2018 covered by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

20

 

 

PART II – OTHER INFORMATION

 

Item 1. Legal Proceedings

None.

 

Item 1A. Risk Factors.

As of the date of this Quarterly Report on Form 10-Q, there have been no material changes to the risk factors disclosed in our final prospectus filed with the SEC on October 16, 2018.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities

 

On June 26, 2018, our Sponsor purchased an aggregate of 8,625,000 Founder Shares, for an aggregate offering price of $25,000 at an average purchase price of approximately $0.003 per share. On September 13, 2018, our Sponsor returned to us, at no cost, 2,156,250 shares of common stock, which we cancelled, resulting in our Sponsor holding 6,468,750 Founder Shares. On October 9, 2018, our Sponsor transferred 25,000 founder shares at the same per-share price paid by our Sponsor to each of Keith Abell and Sabrina McKee, two of our directors (then-director nominees), resulting in our Sponsor holding 6,418,750 Founder Shares. The number of Founder Shares issued was determined based on the expectation that the Founder Shares would represent 20% of the outstanding shares of common stock upon completion of the Initial Public Offering. Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. Each of our Sponsor and directors is an accredited investor for purposes of Rule 501 of Regulation D.

 

Simultaneously with the closing of the Initial Public Offering and the Over-allotment, we consummated the Private Placement of 14,150,605 Private Placement Warrants at a price of $0.50 per Private Placement Warrant, with the Sponsor generating gross proceeds of approximately $7.08 million. The Private Placement Warrants have the same terms as the warrants sold as components of the Units in the Initial Public Offering. Each Private Placement Warrant is exercisable for one-half of one share of common stock at a price of $11.50 per whole share, provided that if we have not consummated a Business Combination within 15 months from the closing of the Initial Public Offering, each Private Placement Warrant will entitle the holder thereof to purchase three-quarters of one share of common stock at a price of $11.50 per whole share, subject to adjustment in either case. A portion of the proceeds from the sale of the Private Placement Warrants was added to the proceeds from the Initial Public Offering to be held in the Trust Account. If we do not complete a Business Combination within the Combination Period, the Private Placement Warrants will expire worthless.

 

Use of Proceeds

 

On October 18, 2018, we consummated the Initial Public Offering of 22,500,000 Units, generating gross proceeds of $225 million. On October 25, 2018, we consummated the sale of 1,876,512 additional Units upon receiving notice of the underwriters’ election to partially exercise the Over-allotment, generating additional gross proceeds of approximately $18.8 million. Following the closing of the Initial Public Offering and the Private Placement, approximately $243.8 million was placed in the Trust Account.

 

There has been no material change in the planned use of proceeds from such use as described in the Company’s final prospectus (File No. 333-227396), dated October 15, 2018, which was declared effective by the SEC on October 15, 2018.

  

Item 3. Defaults Upon Senior Securities

None.

 

Item 4. Mine Safety Disclosures

None.

 

Item 5. Other Information

None.

 

Item 6. Exhibits.

 

Exhibit

Number

 Description
   
31.1 Certification of Chief Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
   
31.2 Certification of Chief Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
   
32.1 Certification of Chief 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 Chief 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

 

21

 

 

SIGNATURES

 

Pursuant to 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 on this 29th day of November, 2018.

 

GRAF INDUSTRIAL CORP.
   
By: /s/ James A. Graf
  Name: James A. Graf
  Title:  Chief Executive Officer and Director

 

22

 

 EX-31.1 2 tv507847_ex31-1.htm EXHIBIT 31.1

 

EXHIBIT 31.1

 

CERTIFICATION

PURSUANT TO RULES 13a-14(a) AND 15d-14(a)

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, James A. Graf, certify that:

 

1. I have reviewed this Quarterly Report on Form 10-Q for the quarter ended September 30, 2018 of Graf Industrial 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 officers 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. [Paragraph intentionally omitted in accordance with SEC Release Nos. 34-47986 and 34-54942];

 

  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 (the registrant’s fourth fiscal quarter in the case of an annual report) 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 officers 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 controls over financial reporting.

 

Date: November 29, 2018 By: /s/ James A. Graf
    James A. Graf
    Chief Executive Officer and Director
(Principal Executive Officer)

 

 

 

 EX-31.2 3 tv507847_ex31-2.htm EXHIBIT 31.2

 

EXHIBIT 31.2

 

CERTIFICATION

PURSUANT TO RULES 13a-14(a) AND 15d-14(a)

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Michael Dee, certify that:

 

1. I have reviewed this Quarterly Report on Form 10-Q for the quarter ended September 30, 2018 of Graf Industrial 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 officers 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. [Paragraph intentionally omitted in accordance with SEC Release Nos. 34-47986 and 34-54942];

 

  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 (the registrant’s fourth fiscal quarter in the case of an annual report) 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 officers 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 controls over financial reporting.

 

Date: November 29, 2018 By: /s/ Michael Dee
    Michael Dee
    President, Chief Financial Officer and Director
(Principal Financial and Accounting Officer)

 

 

 

 EX-32.1 4 tv507847_ex32-1.htm EXHIBIT 32.1

 

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Graf Industrial Corp. (the “Company”) on Form 10-Q for the quarter ended September 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James A. Graf, Chief Executive Officer and Director of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

 

(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.

 

Date: November 29, 2018

 

  /s/ James A. Graf
  Name: James A. Graf
  Title: Chief Executive Officer and Director (Principal Executive Officer)

 

 

 

 EX-32.2 5 tv507847_ex32-2.htm EXHIBIT 32.2

 

EXHIBIT 32.2

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Graf Industrial Corp. (the “Company”) on Form 10-Q for the quarter ended September 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Michael Dee, President, Chief Financial Officer and Director of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

 

(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.

 

Date: November 29, 2018

 

  /s/ Michael Dee  
  Name: Michael Dee
  Title: President, Chief Financial Officer and Director
(Principal Financial and Accounting Officer)

 

 

 

 EX-101.INS 6 graf-20180930.xml XBRL INSTANCE DOCUMENT 0001745317 2018-06-26 2018-09-30 0001745317 2018-11-29 0001745317 2018-09-30 0001745317 2018-10-25 0001745317 2018-07-01 2018-09-30 0001745317 2018-09-16 2018-09-30 0001745317 2018-09-13 0001745317 2018-06-25 0001745317 us-gaap:CommonStockMember 2018-06-26 2018-09-30 0001745317 us-gaap:AdditionalPaidInCapitalMember 2018-06-26 2018-09-30 0001745317 us-gaap:RetainedEarningsMember 2018-06-26 2018-09-30 0001745317 graf:SponsorMember 2018-06-26 2018-09-30 0001745317 graf:SponsorMember 2018-09-30 0001745317 us-gaap:DirectorMember 2018-09-30 0001745317 us-gaap:PrivatePlacementMember 2018-09-30 0001745317 us-gaap:IPOMember 2018-09-30 0001745317 us-gaap:SubsequentEventMember 2018-10-25 0001745317 us-gaap:SubsequentEventMember us-gaap:IPOMember 2018-10-25 0001745317 us-gaap:SubsequentEventMember 2018-10-01 2018-10-25 0001745317 us-gaap:OverAllotmentOptionMember us-gaap:SubsequentEventMember 2018-10-01 2018-10-25 0001745317 us-gaap:SubsequentEventMember us-gaap:PrivatePlacementMember 2018-10-01 2018-10-25 0001745317 us-gaap:PrivatePlacementMember 2018-09-16 2018-09-30 0001745317 us-gaap:IPOMember 2018-09-16 2018-09-30 0001745317 us-gaap:OverAllotmentOptionMember 2018-09-16 2018-09-30 0001745317 us-gaap:DirectorMember us-gaap:SubsequentEventMember 2018-10-01 2018-10-09 0001745317 us-gaap:SubsequentEventMember 2018-10-01 2018-10-09 0001745317 graf:SponsorMember 2018-09-01 2018-09-13 0001745317 graf:SponsorMember 2018-06-01 2018-06-27 0001745317 us-gaap:IPOMember us-gaap:SubsequentEventMember 2018-10-01 2018-10-18 0001745317 us-gaap:CommonStockMember 2018-06-25 0001745317 us-gaap:AdditionalPaidInCapitalMember 2018-06-25 0001745317 us-gaap:RetainedEarningsMember 2018-06-25 0001745317 us-gaap:CommonStockMember 2018-09-30 0001745317 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0001745317 us-gaap:RetainedEarningsMember 2018-09-30 19281 230331 249612 3044 103500 130100 236644 0 647 24353 12968 249612 0.0001 1000000 0.0001 400000000 6468750 6468750 0 0 3214 12032 -3214 -12032 6094128 6094128 0.00 0.00 0 0 0 0 0 6468750 647 24353 0 25000 0 0 -12032 6468750 647 24353 -12032 8500 2177 -1355 130100 109464 20636 19281 0 16500 867 103500 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 8&#8201;&#8212;&#8201;Subsequent Events</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statement was available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statement.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 7&#8201;&#8212;&#8201;Stockholder&#8217;s Equity</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Preferred Stock</div></div></div><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8201;&#8212;&#8201;The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company&#8217;s board of directors. At September 30, 2018, there were no shares of preferred stock issued or outstanding.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Common Stock</div></div></div><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8201;&#8212;&#8201;The Company is authorized to issue 400,000,000 shares of common stock with a par value of&#8201;$0.0001 per share. Holders of shares of common stock are entitled to one vote for each share. At September 30, 2018, there were 6,468,750 shares of common stock issued or outstanding, of which an aggregate of up to 843,750 shares are subject to forfeiture to the extent that the underwriters&#8217; over-allotment option is not exercised in full or in part so that the Sponsor will own, on an as-converted basis, 20% of the Company&#8217;s issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercised their over-allotment option; thus, an aggregate of 374,622 shares of common stock were forfeited.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Warrants</div></div> &#8212;&#8201;Public Warrants may only be exercised for a whole number of shares. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months from the closing of the Initial Public Offering; provided in each case that the Company has an effective registration statement under the Securities Act covering the shares of common stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available. The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of a Business Combination, the Company will use its best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares of common stock issuable upon exercise of the Public Warrants. The Company will use its best efforts to cause the same to become effective and to maintain a current prospectus relating to those shares of common stock until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the shares of common stock issuable upon exercise of the warrants is not effective by the 60<div style="vertical-align: super;font-size: smaller;display:inline;">th</div>&#160;business day after the closing of a Business Combination, warrantholders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a &#8220;cashless basis&#8221; in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a &#8220;covered security&#8221; under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a &#8220;cashless basis&#8221; in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants on a cashless basis. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Once the warrants become exercisable, the Company may redeem the Public Warrants:</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0px; vertical-align: top; width: 0.3pt; font-size: 10pt; line-height: 10pt;"></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; width: 18pt; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8226;</div></div></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">in whole and not in part;</div></div></td></tr></table><div style="clear:both;"></div><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0px; vertical-align: top; width: 0.3pt; font-size: 10pt; line-height: 10pt;"></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; width: 18pt; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8226;</div></div></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">at a price of&#8201;$<div style="letter-spacing: 0px; top: 0px;;display:inline;">0.01</div> per warrant;</div></div></td></tr></table><div style="clear:both;"></div><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0px; vertical-align: top; width: 0.3pt; font-size: 10pt; line-height: 10pt;"></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; width: 18pt; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8226;</div></div></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">upon not less than 30 days&#8217; prior written notice of redemption; and</div></div></td></tr></table><div style="clear:both;"></div><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0px; vertical-align: top; width: 0.3pt; font-size: 10pt; line-height: 10pt;"></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; width: 18pt; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8226;</div></div></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">if, and only if, the reported last sale price of the Company&#8217;s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrantholders.</div></div></td></tr></table><div style="clear:both;"></div><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%; table-layout: fixed;"><tr><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0px; vertical-align: top; width: 0.3pt; font-size: 10pt; line-height: 10pt;"></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; width: 18pt; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#8226;</div></div></td><td style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; padding: 0pt 0px; vertical-align: top; font-size: 10pt; line-height: 10pt;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">If, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.</div></div></td></tr></table><div style="clear:both;"></div><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Private Placement Warrants will be identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that the Private Placement Warrants and the common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30&#160;days after the completion of a Business Combination, subject to certain limited exceptions. The Private Placement Warrants will be redeemable by the Company on the same basis as the Public Warrants.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a &#8220;cashless basis,&#8221; as described in the warrant agreement. The exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance of common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company&#8217;s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 374622 0.2 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 6&#8201;&#8212;&#8201;Commitments and Contingencies</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Registration Rights</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The holders of the Founder Shares, Private Placement Warrants (and any shares of common stock issuable upon the exercise of the Private Placement Warrants), and securities that may be issued upon conversion of Working Capital Loans will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of Initial Public Offering, requiring the Company to register such securities for resale. The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain &#8220;piggy-back&#8221; registration rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Underwriting Agreement</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company granted the underwriters a 45-day option from the date of the prospectus relating to the Initial Public Offering to purchase up to 3,375,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. The underwriters partially exercised this option on October 25, 2018 to purchase 1,876,512 additional Units.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The underwriters were entitled to a cash underwriting discount of&#8201;$0.20 per Unit, or approximately $4.88 million in the aggregate, which was paid upon the closing of the Initial Public Offering.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Business Combination Marketing Agreement</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company has engaged EarlyBirdCapital and Oppenheimer &amp; Co. Inc. as advisors in connection with the Business Combination. The Company will pay EarlyBirdCapital and Oppenheimer &amp; Co. Inc. for such services upon the consummation of the Business Combination (i) a cash fee in an amount equal to 3.5% of the gross proceeds of the Initial Public Offering (exclusive of any applicable finders&#8217; fees which might become payable) an amount equal to up to 40% of which may, in the Company&#8217;s discretion, be allocated by the Company to other FINRA members, plus (ii) 150,000 shares of common stock to be issued to EarlyBirdCapital and/or its designees. EarlyBirdCapital and/or its designees will be entitled to registration rights requiring the Company to register such shares for resale. The Company has agreed to use its best efforts to effect such registration in connection with the consummation of the Business Combination or, if not then reasonably practicable, to use the Company&#8217;s best efforts to file a registration statement covering such shares within 15 days of the closing of the Business Combination. Pursuant to the terms of the business combination marketing agreement, no fee will be due if the Company does not complete a Business Combination.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 5&#8201;&#8212;&#8201;Related Party Transactions</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Founder Shares</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On June 26, 2018, the Sponsor purchased 8,625,000 shares (the &#8220;Founder Shares&#8221;) of the Company&#8217;s common stock for an aggregate price of&#8201;$25,000. On September 13, 2018, the Sponsor returned to the Company, at no cost, 2,156,250 shares of common stock, which the Company cancelled, resulting in the Sponsor holding 6,468,750 Founder Shares. On October 9, 2018, the Sponsor transferred 25,000 Founder Shares at the same per-share price paid by the Sponsor to each of Keith Abell and Sabrina McKee, two of the Company&#8217;s directors (then director-nominees), resulting in the Sponsor holding 6,418,750 Founder Shares.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Founder Shares include an aggregate of up to 843,750 shares subject to forfeiture by the Sponsor to the extent that the underwriters&#8217; over-allotment is not exercised in full or in part, so that the Sponsor will own, on an as-converted basis, 20% of the Company&#8217;s issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercise their over-allotment option; thus, an aggregate of 374,622 Founder Shares were forfeited.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Sponsor has agreed, subject to certain limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A) one year after the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last sale price of the 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 a Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Company&#8217;s stockholders having the right to exchange their shares of common stock for cash, securities or other property.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Related Party Loans</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">As of September 30, 2018, the Sponsor had loaned the Company an aggregate of $130,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the &#8220;Promissory Note&#8221;) and James A. Graf had advanced the Company $100 in connection with the initial establishment of a bank account. The Promissory Note and the advance from James A. Graf were non-interest bearing. The Company repaid the Promissory Note and the advances to James A. Graf on October 18, 2018.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company&#8217;s officers and directors may, but are not obligated to, loan the Company funds as may be required (&#8220;Working Capital Loans&#8221;). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender&#8217;s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into additional warrants at a price of&#8201;$0.50 (or $0.75 if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering) per warrant. As of September 30, 2018, there were no Working Capital Loans under this arrangement.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Administrative Support Agreement</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company agreed commencing on the effective date of the Initial Public Offering through the earlier of the Company&#8217;s consummation of a Business Combination and its liquidation, to reimburse an affiliate of its Sponsor up to $5,000 per month for office space, utilities and secretarial and administrative support on an at-cost basis to the extent such office space, utilities and support is not contracted with the Company directly.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 3375000 1876512 0.20 4880000 0.035 0.4 150000 8625000 25000 2156250 6468750 25000 6418750 843750 0.2 12.00 130000 100 1500000 0.50 $0.75 if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering 5000 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 4&#8201;&#8212;&#8201;Private Placement</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Concurrently with the closing of the Initial Public Offering and the Over-allotment, the Sponsor purchased an aggregate of 14,150,605 Private Placement Warrants at a price of&#8201;$0.50 per Private Placement Warrant, for an aggregate purchase price of&#8201;approximately $7.08 million. Each Private Placement Warrant has the same terms as the Public Warrants. A portion of the net proceeds from the sale of the Private Placement Warrants were added to the proceeds from the Initial Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds of the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Placement Warrants and all underlying securities will expire worthless. The Sponsor has agreed not to transfer, assign or sell any of the Private Placement Warrants until the date that is 30 days after the completion of a Business Combination.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 14150605 0.50 7080000 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 3&#8201;&#8212;&#8201;Initial Public Offering</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company sold an aggregate of 24,376,512 Units, including 1,876,512 Units upon the underwriters&#8217; election to partially exercise their overallotment option, at a price of&#8201;$10.00 per Unit in the Initial Public Offering. Each Unit consists of one share of common stock and one redeemable warrant (&#8220;Public Warrant&#8221;). Each Public Warrant entitles the holder to purchase one-half of one share of common stock at a price of&#8201;$11.50 per whole share, provided that if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering, each Public Warrant will entitle the holder thereof to purchase three-quarters of one share of common stock at a price of&#8201;$11.50 per whole share, subject to adjustment in either case (see Note 7).&#160;The Private Placement Warrants and the Public Warrants were classified as a liability at issuance due to this potential adjustment to the settlement amount (see the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018).</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 24376512 1876512 10.00 11.50 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 2&#8201;&#8212;&#8201;Summary of Significant Accounting Policies</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Basis of Presentation</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the period from June 26, 2018 (inception) through September 30, 2018 are not necessarily indicative of the results that may be expected through December 31, 2018.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on October 16, 2018, the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018, and with the pro forma balance sheet included in the Form 8-K filed by the Company with the SEC on October 31, 2018.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Emerging Growth Company</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company is an &#8220;emerging growth company,&#8221; as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Further, 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 Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth 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 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. This may make comparison of the Company&#8217;s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the financial statements in conformity with U.S. GAAP requires the Company&#8217;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, and the reported amounts of expenses during the periods.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Deferred Offering Costs</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">Deferred offering costs consist of legal and accounting fees and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Offering costs were charged to stockholders&#8217; equity upon the completion of the Initial Public Offering in October 2018.</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Net Loss Per Common Share</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture by the Sponsor. Weighted average shares were reduced for the effect of an aggregate of <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">374,622 </div> shares of common stock that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. At September 30, 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented.</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Income Taxes</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company follows the asset and liability method of accounting for income taxes under FASB ASC&#160;740, &#8220;Income Taxes.&#8221; 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.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;">&#160;</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2018. 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 since inception.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The provision for income taxes was deemed to be immaterial for the period from June 26, 2018 (inception) to September 30, 2018.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#8199;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Concentration of Credit Risk</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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. At September 30, 2018, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Fair Value of Financial Instruments</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The fair value of the Company&#8217;s assets and liabilities, which qualify as financial instruments under FASB ASC 820, &#8220;Fair Value Measurements and Disclosures,&#8221; approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Recent Accounting Pronouncements</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. The Company anticipates its first presentation of changes in stockholders' equity, in accordance with the new guidance, will be included in its Form 10-Q for the quarter ended March 31, 2019.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company&#8217;s financial statements.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Basis of Presentation</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the period from June 26, 2018 (inception) through September 30, 2018 are not necessarily indicative of the results that may be expected through December 31, 2018.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.31in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on October 16, 2018, the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018, and with the pro forma balance sheet included in the Form 8-K filed by the Company with the SEC on October 31, 2018.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Emerging Growth Company</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company is an &#8220;emerging growth company,&#8221; as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Further, 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 Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth 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 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. This may make comparison of the Company&#8217;s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the financial statements in conformity with U.S. GAAP requires the Company&#8217;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, and the reported amounts of expenses during the periods.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Net Loss Per Common Share</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture by the Sponsor. Weighted average shares were reduced for the effect of an aggregate of <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">374,622 </div> shares of common stock that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. At September 30, 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Income Taxes</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company follows the asset and liability method of accounting for income taxes under FASB ASC&#160;740, &#8220;Income Taxes.&#8221; 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.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;">&#160;</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2018. 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 since inception.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The provision for income taxes was deemed to be immaterial for the period from June 26, 2018 (inception) to September 30, 2018.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Concentration of Credit Risk</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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. At September 30, 2018, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Fair Value of Financial Instruments</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The fair value of the Company&#8217;s assets and liabilities, which qualify as financial instruments under FASB ASC 820, &#8220;Fair Value Measurements and Disclosures,&#8221; approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Recent Accounting Pronouncements</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. The Company anticipates its first presentation of changes in stockholders' equity, in accordance with the new guidance, will be included in its Form 10-Q for the quarter ended March 31, 2019.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company&#8217;s financial statements.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 250000 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 1&#8201;&#8212;&#8201;Description of Organization and Business Operations</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Graf Industrial Corp. (the &#8220;Company&#8221;) is a blank check company incorporated in Delaware on June&#160;26, 2018. 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 &#8220;Business Combination&#8221;).</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">As of September 30, 2018, the Company had not commenced any operations. All activity for the period from June 26, 2018 (inception) through September 30, 2018 relates to the Company&#8217;s formation and preparation for the initial public offering (&#8220;Initial Public Offering&#8221;), which is described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">The registration statement for the Company's Initial Public Offering was declared effective on October 15, 2018. On October 18, 2018,<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> the Company consummated the Initial Public Offering of 22,500,000 units </div>(the "Units" and, with respect to the shares of common stock included in the Units offered, the "Public Shares"), generating gross proceeds&#160;<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">of $225 million</div>, and incurred underwriting commissions of $4.5 million<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">. On October 25, 2018, the Company consummated the closing of the sale of 1,876,512 additional </div>Units upon receiving notice of the underwriters' election to partially exercise their overallotment option (the "Over-allotment"), generating additional gross proceeds of approximately<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> $18.8 </div>million, and incurred additional underwriting commissions of<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> $375,302&#160;(Note 3).</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Simultaneously with the closing of the Initial Public Offering and the Over-allotment, the Company consummated the private placement (&#8220;Private Placement&#8221;) of 14,150,605 warrants (the &#8220;Private Placement Warrants&#8221;) at a price of $0.50 per Private Placement Warrant, with the Sponsor, generating gross proceeds of approximately $7.08 million (Note 4).</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; font-size: 10pt;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Upon the closing of the Initial Public Offering, the Over-allotment and the Private Placement, approximately $243.8 million ($10.00 per Unit) of the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A, maintained by Continental Stock Transfer &amp; Trust Company, acting as trustee (&#8220;Trust Account&#8221;). The proceeds held in the Trust Account will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act 1940, as amended (the &#8220;Investment Company Act&#8221;), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company&#8217;s Second Amended and Restated Certificate of Incorporation (the &#8220;Amended and Restated Certificate of Incorporation&#8221;) to modify the substance or timing of the Company&#8217;s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination within 18 months from the closing of its Initial Public Offering or to provide for redemption in connection with a Business Combination and (iii) the redemption of the Company&#8217;s Public Shares if the Company is unable to complete a Business Combination within 18 months from the closing of its Initial Public <div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">Offering, subject to applicable law.</div></div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none; font-size: 10pt;"><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; font-size: 10pt;"><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">Upon the closing of the Initial Public Offering, the Private Placement and the Over-allotment, the Company had&#160;<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">approximately $</div></div></div><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">1.99</div></div></div><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> million&#160;</div>in cash held outside of the Trust Account. The Company's management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, the Over-allotment and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. New York Stock Exchange ("NYSE") rules require that the initial Business Combination must occur with one or more operating businesses or assets with a fair market value equal to at least </div></div><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">80</div></div><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">% of the net assets held in the Trust Account (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any deferred underwriting commissions). The Company will only complete a Business Combination if the post-transaction company owns or acquires </div></div><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">50</div></div><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;">% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">.</div></div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none; font-size: 10pt;"><div style="font-size:10pt;;display:inline;"><div style="font-family:times new roman,times,serif;;display:inline;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company will provide its holders of the outstanding Public Shares (the &#8220;public stockholders&#8221;) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account. There will be no redemption rights upon the completion of a Business Combination with respect to the Company&#8217;s warrants. The Public Shares subject to redemption were recorded at a redemption value and classified as temporary equity in accordance with the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221; The Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to the Amended and Restated Certificate of Incorporation, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. </div>If the Company seeks stockholder approval in connection with a Business Combination, the Company&#8217;s Sponsor, officers and directors have agreed to vote their Founder Shares (as defined below in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction.</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">The Sponsor and the Company&#8217;s officers and directors have agreed&#160;<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">(a) to waive their redemption rights with respect to their Founder Shares and Public Shares held by them in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company&#8217;s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination or to provide for redemption in connection with a Business Combination, unless the Company provides the public stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;"><div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">If the Company is unable to complete a Business Combination within 18 months from the closing of the Initial Public Offering (by April 18, 2020) (the &#8220;Combination Period&#8221;), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders&#8217; rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company&#8217;s remaining stockholders and the Company&#8217;s board of directors, dissolve and liquidate, subject in each case to the Company&#8217;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company&#8217;s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">The Sponsor and the Company's officers and directors have agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the officers, directors, the Sponsor or any of its members or their affiliates acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. Pursuant to the terms of the business combination marketing agreement (see Note 6), no fee will be payable if the Company does not complete a Business Combination. In the event that the Company does not complete a Business Combination and subsequently liquidates, the amount of such fee will be included with the funds held in the trust account that will be available to fund the redemption of Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00).</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px; font-size: 10pt;">In order to protect the amounts held in the Trust Account, the Sponsor has agreed to indemnify the Company if and to the extent any claims by a third party for services rendered or products sold to the Company,&#160;<div style="color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of&#160;&#160;(i) $10.00 per Public Share or (ii)&#160;the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company&#8217;s indemnity of the underwriters of the Initial Public Offering against certain including liabilities under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor&#8217;s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations.&#160;None of the Company&#8217;s officers or directors will indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company's independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 22500000 225000000 1876512 18800000 375302 243800000 10.00 1990000 The proceeds held in the Trust Account will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act 1940, as amended (the &#8220;Investment Company Act&#8221;), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company&#8217;s Second Amended and Restated Certificate of Incorporation (the &#8220;Amended and Restated Certificate of Incorporation&#8221;) to modify the substance or timing of the Company&#8217;s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination within 18 months from the closing of its Initial Public Offering or to provide for redemption in connection with a Business Combination and (iii) the redemption of the Company&#8217;s Public Shares if the Company is unable to complete a Business Combination within 18 months from the closing of its Initial Public Offering, subject to applicable law. fair market value equal to at least 80% of the net assets held in the Trust Account (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any deferred underwriting commissions). acquires 50% or more of the outstanding voting securities of the target 5000001 1 i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders&#8217; rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, 10.00 -12032 <div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;">Deferred Offering Costs</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.28in; margin-right: 0px;">Deferred offering costs consist of legal and accounting fees and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Offering costs were charged to stockholders&#8217; equity upon the completion of the Initial Public Offering in October 2018.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 374622 0.01 4500000 10-Q false 2018-09-30 2018 Q3 Graf Industrial Corp. 0001745317 --12-31 Non-accelerated Filer GRAF 30470640 true false true xbrli:shares iso4217:USD xbrli:pure iso4217:USD xbrli:shares Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. Excludes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. EX-101.SCH 7 graf-20180930.xsd XBRL TAXONOMY EXTENSION SCHEMA 1001 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink 1002 - Statement - CONDENSED BALANCE SHEET link:presentationLink link:definitionLink link:calculationLink 1003 - Statement - CONDENSED BALANCE SHEET (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 1004 - Statement - CONDENSED STATEMENTS OF OPERATIONS link:presentationLink link:definitionLink link:calculationLink 1005 - Statement - CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 1006 - Statement - STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY link:presentationLink link:definitionLink link:calculationLink 1007 - Statement - STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 1008 - Statement - CONDENSED STATEMENT OF CASH FLOWS link:presentationLink link:definitionLink link:calculationLink 1009 - Disclosure - Description of Organization and Business Operations link:presentationLink link:definitionLink link:calculationLink 1010 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 1011 - Disclosure - Initial Public Offering link:presentationLink link:definitionLink link:calculationLink 1012 - Disclosure - Private Placement link:presentationLink link:definitionLink link:calculationLink 1013 - Disclosure - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 1014 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 1015 - Disclosure - Stockholder's Equity link:presentationLink link:definitionLink link:calculationLink 1016 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 1017 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:definitionLink link:calculationLink 1018 - Disclosure - Description of Organization and Business Operations (Details Textual) link:presentationLink link:definitionLink link:calculationLink 1019 - Disclosure - Summary of Significant Accounting Policies (Details Textual) link:presentationLink link:definitionLink link:calculationLink 1020 - Disclosure - Initial Public Offering (Details Textual) link:presentationLink link:definitionLink link:calculationLink 1021 - Disclosure - Private Placement (Details Textual) link:presentationLink link:definitionLink link:calculationLink 1022 - Disclosure - Related Party Transactions (Details Textual) link:presentationLink link:definitionLink link:calculationLink 1023 - Disclosure - Commitments and Contingencies (Details Textual) link:presentationLink link:definitionLink link:calculationLink 1024 - Disclosure - Stockholder's Equity (Details Textual) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 graf-20180930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 graf-20180930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 graf-20180930_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 11 graf-20180930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document And Entity Information - shares
 3 Months Ended
Sep. 30, 2018
Nov. 29, 2018
Document Information [Line Items]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2018  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q3  
Entity Registrant Name Graf Industrial Corp.  
Entity Central Index Key 0001745317  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Trading Symbol GRAF  
Entity Common Stock, Shares Outstanding   30,470,640
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Small Business true  
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED BALANCE SHEET
Sep. 30, 2018
USD ($)
Assets:  
Current asset - Cash $ 19,281
Deferred offering costs 230,331
Total Assets 249,612
Current liabilities:  
Accounts payable 3,044
Accrued expenses 103,500
Note payable and advance - related parties 130,100
Total current liabilities 236,644
Stockholder's Equity:  
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 0
Common stock, $0.0001 par value; 400,000,000 shares authorized; 6,468,750 shares issued and outstanding 647 [1]
Additional paid-in capital 24,353
Accumulated deficit (12,032)
Total stockholder's equity 12,968
Total Liabilities and Stockholder's Equity $ 249,612
[1] Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED BALANCE SHEET (Parenthetical) - $ / shares
 1 Months Ended
Oct. 25, 2018
Sep. 30, 2018
Preferred Stock, Par or Stated Value Per Share $ 0.0001
Preferred Stock, Shares Authorized 1,000,000
Preferred Stock, Shares Issued 0
Preferred Stock, Shares Outstanding 0
Common Stock, Par or Stated Value Per Share $ 0.0001
Common Stock, Shares Authorized 400,000,000
Common Stock, Shares, Issued 6,468,750
Common Stock, Shares, Outstanding 6,468,750
Subsequent Event [Member]    
Number Of Shares Forfeited 374,622  
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended
Sep. 30, 2018
Sep. 30, 2018
Formation and operating costs $ 3,214 $ 12,032
Net loss $ (3,214) $ (12,032)
Weighted average shares outstanding, basic and diluted [1] 6,094,128 6,094,128
Basic and diluted net loss per share $ 0.00 $ 0.00
[1] Excludes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED STATEMENTS OF OPERATIONS (Parenthetical)
 1 Months Ended
Oct. 25, 2018
shares
Subsequent Event [Member]  
Stock Repurchased During Period, Shares 374,622
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY - 3 months ended Sep. 30, 2018 - USD ($)
Total
Common Stock [Member]
Additional Paid-In Capital [Member]
Accumulated Deficit [Member]
Balance at Jun. 25, 2018 $ 0 $ 0 $ 0 $ 0
Balance (in shares) at Jun. 25, 2018   0    
Issuance of common stock to Sponsor [1] 25,000 $ 647 24,353 0
Issuance of common stock to Sponsor (in shares) [1]   6,468,750    
Net loss (12,032) $ 0 0 (12,032)
Balance at Sep. 30, 2018 $ 12,968 $ 647 $ 24,353 $ (12,032)
Balance (in shares) at Sep. 30, 2018   6,468,750    
[1] Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical)
 1 Months Ended
Oct. 25, 2018
shares
Subsequent Event [Member]  
Stock Repurchased During Period, Shares 374,622
XML 19 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED STATEMENT OF CASH FLOWS
 3 Months Ended
Sep. 30, 2018
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (12,032)
Adjustments to reconcile net loss to net cash used in operating activities:  
Formation and operating costs paid by Sponsor in exchange for issuance of common stock 8,500
Changes in operating assets and liabilities:  
Accounts payable 2,177
Net cash used in operating activities (1,355)
Cash Flows from Financing Activities:  
Proceeds from note payable from related parties 130,100
Payment of offering costs (109,464)
Net cash provided by financing activities 20,636
Net change in cash 19,281
Cash - beginning of the period 0
Cash - end of the period 19,281
Supplemental disclosure of noncash activities:  
Deferred offering costs paid by Sponsor in exchange for issuance of common stock 16,500
Deferred offering costs included in accounts payable 867
Deferred offering costs included in accrued expenses $ 103,500
XML 20 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Description of Organization and Business Operations
 3 Months Ended
Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
Note 1 — Description of Organization and Business Operations
 
Graf Industrial Corp. (the “Company”) is a blank check company incorporated in Delaware on June 26, 2018. 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 “Business Combination”).
 
The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.
 
As of September 30, 2018, the Company had not commenced any operations. All activity for the period from June 26, 2018 (inception) through September 30, 2018 relates to the Company’s formation and preparation for the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.
 
The registration statement for the Company's Initial Public Offering was declared effective on October 15, 2018. On October 18, 2018,
the Company consummated the Initial Public Offering of 22,500,000 units
(the "Units" and, with respect to the shares of common stock included in the Units offered, the "Public Shares"), generating gross proceeds 
of $225 million
, and incurred underwriting commissions of $4.5 million
. On October 25, 2018, the Company consummated the closing of the sale of 1,876,512 additional
Units upon receiving notice of the underwriters' election to partially exercise their overallotment option (the "Over-allotment"), generating additional gross proceeds of approximately
$18.8
million, and incurred additional underwriting commissions of
$375,302 (Note 3).
 
Simultaneously with the closing of the Initial Public Offering and the Over-allotment, the Company consummated the private placement (“Private Placement”) of 14,150,605 warrants (the “Private Placement Warrants”) at a price of $0.50 per Private Placement Warrant, with the Sponsor, generating gross proceeds of approximately $7.08 million (Note 4).
 
Upon the closing of the Initial Public Offering, the Over-allotment and the Private Placement, approximately $243.8 million ($10.00 per Unit) of the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Trust Account”). The proceeds held in the Trust Account will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company’s Second Amended and Restated Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”) to modify the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination within 18 months from the closing of its Initial Public Offering or to provide for redemption in connection with a Business Combination and (iii) the redemption of the Company’s Public Shares if the Company is unable to complete a Business Combination within 18 months from the closing of its Initial Public
Offering, subject to applicable law.
 
Upon the closing of the Initial Public Offering, the Private Placement and the Over-allotment, the Company had 
approximately $
1.99
million 
in cash held outside of the Trust Account. The Company's management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, the Over-allotment and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. New York Stock Exchange ("NYSE") rules require that the initial Business Combination must occur with one or more operating businesses or assets with a fair market value equal to at least
80
% of the net assets held in the Trust Account (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any deferred underwriting commissions). The Company will only complete a Business Combination if the post-transaction company owns or acquires
50
% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act
.
 
The Company will provide its holders of the outstanding Public Shares (the “public stockholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The Public Shares subject to redemption were recorded at a redemption value and classified as temporary equity in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” The Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to the Amended and Restated Certificate of Incorporation, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules.
If the Company seeks stockholder approval in connection with a Business Combination, the Company’s Sponsor, officers and directors have agreed to vote their Founder Shares (as defined below in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction.
 
The Sponsor and the Company’s officers and directors have agreed 
(a) to waive their redemption rights with respect to their Founder Shares and Public Shares held by them in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination or to provide for redemption in connection with a Business Combination, unless the Company provides the public stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment.
 
If the Company is unable to complete a Business Combination within 18 months from the closing of the Initial Public Offering (by April 18, 2020) (the “Combination Period”), the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period.
 
The Sponsor and the Company's officers and directors have agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the officers, directors, the Sponsor or any of its members or their affiliates acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. Pursuant to the terms of the business combination marketing agreement (see Note 6), no fee will be payable if the Company does not complete a Business Combination. In the event that the Company does not complete a Business Combination and subsequently liquidates, the amount of such fee will be included with the funds held in the trust account that will be available to fund the redemption of Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00).
 
In order to protect the amounts held in the Trust Account, the Sponsor has agreed to indemnify the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, 
or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of  (i) $10.00 per Public Share or (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations. None of the Company’s officers or directors will indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company's independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.
XML 21 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies
 3 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]
Note 2 — Summary of Significant Accounting Policies
 
Basis of Presentation
 
The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the period from June 26, 2018 (inception) through September 30, 2018 are not necessarily indicative of the results that may be expected through December 31, 2018.
 
The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on October 16, 2018, the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018, and with the pro forma balance sheet included in the Form 8-K filed by the Company with the SEC on October 31, 2018.
 
Emerging Growth Company
 
The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.
 
Further, 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 Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth 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 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. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
 
Use of Estimates
 
The preparation of the financial statements in conformity with U.S. 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, and the reported amounts of expenses during the periods.
 
Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.
 
Deferred Offering Costs
 
Deferred offering costs consist of legal and accounting fees and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Offering costs were charged to stockholders’ equity upon the completion of the Initial Public Offering in October 2018.
 
Net Loss Per Common Share
 
Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture by the Sponsor. Weighted average shares were reduced for the effect of an aggregate of
374,622
shares of common stock that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. At September 30, 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented.
 
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.
 
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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2018. 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 since inception.
 
The provision for income taxes was deemed to be immaterial for the period from June 26, 2018 (inception) to September 30, 2018.
 
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. At September 30, 2018, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
 
Fair Value of 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 balance sheet, primarily due to their short-term nature.
 
Recent Accounting Pronouncements
 
In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. The Company anticipates its first presentation of changes in stockholders' equity, in accordance with the new guidance, will be included in its Form 10-Q for the quarter ended March 31, 2019.
 
Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.
XML 22 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Initial Public Offering
 3 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Initial Public Offering [Text Block]
Note 3 — Initial Public Offering
 
The Company sold an aggregate of 24,376,512 Units, including 1,876,512 Units upon the underwriters’ election to partially exercise their overallotment option, at a price of $10.00 per Unit in the Initial Public Offering. Each Unit consists of one share of common stock and one redeemable warrant (“Public Warrant”). Each Public Warrant entitles the holder to purchase one-half of one share of common stock at a price of $11.50 per whole share, provided that if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering, each Public Warrant will entitle the holder thereof to purchase three-quarters of one share of common stock at a price of $11.50 per whole share, subject to adjustment in either case (see Note 7). The Private Placement Warrants and the Public Warrants were classified as a liability at issuance due to this potential adjustment to the settlement amount (see the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018).
XML 23 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Private Placement
 3 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Private Placement [Text Block]
Note 4 — Private Placement
 
Concurrently with the closing of the Initial Public Offering and the Over-allotment, the Sponsor purchased an aggregate of 14,150,605 Private Placement Warrants at a price of $0.50 per Private Placement Warrant, for an aggregate purchase price of approximately $7.08 million. Each Private Placement Warrant has the same terms as the Public Warrants. A portion of the net proceeds from the sale of the Private Placement Warrants were added to the proceeds from the Initial Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds of the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Placement Warrants and all underlying securities will expire worthless. The Sponsor has agreed not to transfer, assign or sell any of the Private Placement Warrants until the date that is 30 days after the completion of a Business Combination.
XML 24 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
 3 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
Note 5 — Related Party Transactions
 
Founder Shares
 
On June 26, 2018, the Sponsor purchased 8,625,000 shares (the “Founder Shares”) of the Company’s common stock for an aggregate price of $25,000. On September 13, 2018, the Sponsor returned to the Company, at no cost, 2,156,250 shares of common stock, which the Company cancelled, resulting in the Sponsor holding 6,468,750 Founder Shares. On October 9, 2018, the Sponsor transferred 25,000 Founder Shares at the same per-share price paid by the Sponsor to each of Keith Abell and Sabrina McKee, two of the Company’s directors (then director-nominees), resulting in the Sponsor holding 6,418,750 Founder Shares.
 
The Founder Shares include an aggregate of up to 843,750 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment is not exercised in full or in part, so that the Sponsor will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercise their over-allotment option; thus, an aggregate of 374,622 Founder Shares were forfeited.
 
The Sponsor has agreed, subject to certain limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A) one year after the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last sale price of the 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 a Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction 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.
 
Related Party Loans
 
As of September 30, 2018, the Sponsor had loaned the Company an aggregate of $130,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “Promissory Note”) and James A. Graf had advanced the Company $100 in connection with the initial establishment of a bank account. The Promissory Note and the advance from James A. Graf were non-interest bearing. The Company repaid the Promissory Note and the advances to James A. Graf on October 18, 2018.
 
In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into additional warrants at a price of $0.50 (or $0.75 if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering) per warrant. As of September 30, 2018, there were no Working Capital Loans under this arrangement.
 
Administrative Support Agreement
 
The Company agreed commencing on the effective date of the Initial Public Offering through the earlier of the Company’s consummation of a Business Combination and its liquidation, to reimburse an affiliate of its Sponsor up to $5,000 per month for office space, utilities and secretarial and administrative support on an at-cost basis to the extent such office space, utilities and support is not contracted with the Company directly.
XML 25 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies
 3 Months Ended
Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
Note 6 — Commitments and Contingencies
 
Registration Rights
 
The holders of the Founder Shares, Private Placement Warrants (and any shares of common stock issuable upon the exercise of the Private Placement Warrants), and securities that may be issued upon conversion of Working Capital Loans will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of Initial Public Offering, requiring the Company to register such securities for resale. The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.
 
Underwriting Agreement
 
The Company granted the underwriters a 45-day option from the date of the prospectus relating to the Initial Public Offering to purchase up to 3,375,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. The underwriters partially exercised this option on October 25, 2018 to purchase 1,876,512 additional Units.
 
The underwriters were entitled to a cash underwriting discount of $0.20 per Unit, or approximately $4.88 million in the aggregate, which was paid upon the closing of the Initial Public Offering.
 
Business Combination Marketing Agreement
 
The Company has engaged EarlyBirdCapital and Oppenheimer & Co. Inc. as advisors in connection with the Business Combination. The Company will pay EarlyBirdCapital and Oppenheimer & Co. Inc. for such services upon the consummation of the Business Combination (i) a cash fee in an amount equal to 3.5% of the gross proceeds of the Initial Public Offering (exclusive of any applicable finders’ fees which might become payable) an amount equal to up to 40% of which may, in the Company’s discretion, be allocated by the Company to other FINRA members, plus (ii) 150,000 shares of common stock to be issued to EarlyBirdCapital and/or its designees. EarlyBirdCapital and/or its designees will be entitled to registration rights requiring the Company to register such shares for resale. The Company has agreed to use its best efforts to effect such registration in connection with the consummation of the Business Combination or, if not then reasonably practicable, to use the Company’s best efforts to file a registration statement covering such shares within 15 days of the closing of the Business Combination. Pursuant to the terms of the business combination marketing agreement, no fee will be due if the Company does not complete a Business Combination.
XML 26 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholder's Equity
 3 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
Note 7 — Stockholder’s Equity
 
Preferred Stock
 — The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At September 30, 2018, there were no shares of preferred stock issued or outstanding.
 
Common Stock
 — The Company is authorized to issue 400,000,000 shares of common stock with a par value of $0.0001 per share. Holders of shares of common stock are entitled to one vote for each share. At September 30, 2018, there were 6,468,750 shares of common stock issued or outstanding, of which an aggregate of up to 843,750 shares are subject to forfeiture to the extent that the underwriters’ over-allotment option is not exercised in full or in part so that the Sponsor will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. On October 25, 2018, the underwriters partially exercised their over-allotment option; thus, an aggregate of 374,622 shares of common stock were forfeited.
 
Warrants
— Public Warrants may only be exercised for a whole number of shares. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months from the closing of the Initial Public Offering; provided in each case that the Company has an effective registration statement under the Securities Act covering the shares of common stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available. The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of a Business Combination, the Company will use its best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares of common stock issuable upon exercise of the Public Warrants. The Company will use its best efforts to cause the same to become effective and to maintain a current prospectus relating to those shares of common stock until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the shares of common stock issuable upon exercise of the warrants is not effective by the 60
th
 business day after the closing of a Business Combination, warrantholders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants on a cashless basis. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation.
 
Once the warrants become exercisable, the Company may redeem the Public Warrants:
 
•
in whole and not in part;
 
•
at a price of $
0.01
per warrant;
 
•
upon not less than 30 days’ prior written notice of redemption; and
 
•
if, and only if, the reported last sale price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrantholders.
 
•
If, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.
  
The Private Placement Warrants will be identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that the Private Placement Warrants and the common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. The Private Placement Warrants will be redeemable by the Company on the same basis as the Public Warrants.
 
If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance of common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.
XML 27 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events
 3 Months Ended
Sep. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Note 8 — Subsequent Events
 
The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statement was available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statement.
XML 28 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
Basis of Presentation
 
The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the period from June 26, 2018 (inception) through September 30, 2018 are not necessarily indicative of the results that may be expected through December 31, 2018.
 
The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on October 16, 2018, the audited balance sheet included in the Form 8-K filed by the Company with the SEC on October 24, 2018, and with the pro forma balance sheet included in the Form 8-K filed by the Company with the SEC on October 31, 2018.
Start-up Activities, Cost Policy [Policy Text Block]
Emerging Growth Company
 
The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.
 
Further, 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 Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth 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 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. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
 
The preparation of the financial statements in conformity with U.S. 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, and the reported amounts of expenses during the periods.
 
Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.
Deferred Offering Costs [Policy Text Block]
Deferred Offering Costs
 
Deferred offering costs consist of legal and accounting fees and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Offering costs were charged to stockholders’ equity upon the completion of the Initial Public Offering in October 2018.
Earnings Per Share, Policy [Policy Text Block]
Net Loss Per Common Share
 
Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture by the Sponsor. Weighted average shares were reduced for the effect of an aggregate of
374,622
shares of common stock that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018. At September 30, 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented.
Income Tax, Policy [Policy Text Block]
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.
 
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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2018. 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 since inception.
 
The provision for income taxes was deemed to be immaterial for the period from June 26, 2018 (inception) to September 30, 2018.
Concentration Risk, Credit Risk, Policy [Policy Text Block]
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. At September 30, 2018, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Fair Value of Financial Instruments, Policy [Policy Text Block]
Fair Value of 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 balance sheet, primarily due to their short-term nature.
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements
 
In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. The Company anticipates its first presentation of changes in stockholders' equity, in accordance with the new guidance, will be included in its Form 10-Q for the quarter ended March 31, 2019.
 
Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.
XML 29 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Description of Organization and Business Operations (Details Textual) - USD ($)
 1 Months Ended 3 Months Ended
Oct. 25, 2018
Oct. 18, 2018
Sep. 30, 2018
Sep. 30, 2018
Jun. 25, 2018
Stock Issued During Period, Value, New Issues [1]       $ 25,000  
Class of Warrant or Right, Exercise Price of Warrants or Rights     $ 11.50 $ 11.50  
Proceeds from Issuance Initial Public Offering       $ 4,880,000  
Share Price     $ 12.00 $ 12.00  
Business Acquisition, Description of Acquired Entity     The proceeds held in the Trust Account will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company’s Second Amended and Restated Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”) to modify the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination within 18 months from the closing of its Initial Public Offering or to provide for redemption in connection with a Business Combination and (iii) the redemption of the Company’s Public Shares if the Company is unable to complete a Business Combination within 18 months from the closing of its Initial Public Offering, subject to applicable law.    
Description Of Business Combination       fair market value equal to at least 80% of the net assets held in the Trust Account (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any deferred underwriting commissions).  
Business Combination Percentage of Voting Interests Description       acquires 50% or more of the outstanding voting securities of the target  
Business Combination Tangible Assets Net     $ 5,000,001 $ 5,000,001  
Percentage Of Public Shares To Be Redeemed       100.00%  
Effect Of Incompletion Of Business Combination       i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,  
Cash     $ 19,281 $ 19,281 $ 0
IPO [Member]          
Stock Issued During Period, Shares, New Issues     24,376,512    
Over-Allotment Option [Member]          
Stock Issued During Period, Shares, New Issues     1,876,512    
Private Placement [Member]          
Number Of Warrants Issued     14,150,605    
Class of Warrant or Right, Exercise Price of Warrants or Rights     $ 0.50 $ 0.50  
Proceeds from Issuance of Warrants     $ 7,080,000    
Subsequent Event [Member]          
Share Price $ 10.00        
Cash $ 1,990,000        
Subsequent Event [Member] | IPO [Member]          
Stock Issued During Period, Shares, New Issues   22,500,000      
Stock Issued During Period, Value, New Issues   $ 225,000,000      
Share Price $ 10.00        
Underwriting Commissions Incurred   $ 4,500,000      
Subsequent Event [Member] | Over-Allotment Option [Member]          
Stock Issued During Period, Shares, New Issues 1,876,512        
Stock Issued During Period, Value, New Issues $ 18,800,000        
Underwriting Commissions Incurred 375,302        
Subsequent Event [Member] | Private Placement [Member]          
Proceeds from Issuance Initial Public Offering $ 243,800,000        
[1] Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.
XML 30 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details Textual) - USD ($)
 1 Months Ended
Oct. 25, 2018
Sep. 30, 2018
Cash, FDIC Insured Amount   $ 250,000
Subsequent Event [Member]    
Stock Repurchased During Period, Shares 374,622  
XML 31 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Initial Public Offering (Details Textual)
 1 Months Ended
Sep. 30, 2018
$ / shares
shares
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares $ 11.50
IPO [Member]  
Stock Issued During Period, Shares, New Issues | shares 24,376,512
Shares Issued, Price Per Share | $ / shares $ 10.00
Over-Allotment Option [Member]  
Stock Issued During Period, Shares, New Issues | shares 1,876,512
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
Private Placement (Details Textual)
$ / shares in Units, $ in Thousands
 1 Months Ended
Sep. 30, 2018
USD ($)
$ / shares
shares
Class of Warrant or Right, Exercise Price of Warrants or Rights $ 11.50
Private Placement [Member]  
Number Of Warrants Issued | shares 14,150,605
Class of Warrant or Right, Exercise Price of Warrants or Rights $ 0.50
Proceeds from Issuance of Warrants | $ $ 7,080
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details Textual) - USD ($)
 1 Months Ended 3 Months Ended
Oct. 09, 2018
Sep. 13, 2018
Oct. 25, 2018
Jun. 27, 2018
Sep. 30, 2018
Stock Issued During Period, Value, New Issues [1]         $ 25,000
Common Stock, Shares, Outstanding   6,468,750   6,468,750
Number Of Shares Subject To Forfeiture         843,750
Share Price         $ 12.00
Notes Payable, Related Parties, Current         $ 130,100
Debt Conversion, Original Debt, Amount         $ 1,500,000
Debt Instrument, Convertible, Conversion Price         $ 0.50
Debt Instrument Convertible Conversion Price Description         $0.75 if the Company has not consummated a Business Combination within 15 months from the closing of the Initial Public Offering
Management Fee Expense         $ 5,000
Subsequent Event [Member]          
Number Of Shares Held By Sponsor 6,418,750        
Stock Repurchased During Period, Shares     374,622    
Share Price     $ 10.00    
Director [Member]          
Notes Payable, Related Parties, Current         $ 100
Director [Member] | Subsequent Event [Member]          
Number Of Shares Transferred 25,000        
Sponsor [Member]          
Stock Issued During Period, Shares, New Issues       8,625,000  
Stock Issued During Period, Value, New Issues       $ 25,000  
Weighted Average Number of Shares, Common Stock Subject to Repurchase or Cancellation   2,156,250      
Equity Method Investment, Ownership Percentage         20.00%
Notes Payable, Related Parties, Current         $ 130,000
[1] Includes 374,622 founder shares that were forfeited by the Sponsor upon receiving notice of partial exercise of the over-allotment option by the underwriters on October 25, 2018.
XML 34 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies (Details Textual) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended
Oct. 25, 2018
Sep. 30, 2018
Sep. 30, 2018
Purchase of Initial Public Offering   3,375,000  
Cash Underwriting Discount Per Share   $ 0.20 $ 0.20
Business Combination Cash Fee Percentage   3.50% 3.50%
Business Combination Finders Fees Payable Percentage   40.00% 40.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares     150,000
Proceeds from Issuance Initial Public Offering     $ 4,880
Subsequent Event [Member]      
Purchase of Initial Public Offering Exercised 1,876,512    
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholder's Equity (Details Textual) - $ / shares
 1 Months Ended 3 Months Ended
Oct. 25, 2018
Sep. 30, 2018
Sep. 13, 2018
Preferred Stock, Shares Authorized 1,000,000  
Preferred Stock, Par or Stated Value Per Share $ 0.0001  
Common Stock, Shares Authorized 400,000,000  
Common Stock, Par or Stated Value Per Share $ 0.0001  
Common Stock, Shares, Issued 6,468,750  
Common Stock, Shares, Outstanding 6,468,750 6,468,750
Class of Warrant or Right Redemption Price of Warrants or Rights   $ 0.01  
Share Price   $ 12.00  
Number Of Shares Subject To Forfeiture   843,750  
Preferred Stock, Shares Outstanding 0  
Sponsor [Member]      
Sale of Stock, Percentage of Ownership after Transaction   20.00%  
Subsequent Event [Member]      
Share Price $ 10.00    
Stock Repurchased During Period, Shares 374,622    
EXCEL 36 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 37 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 38 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 40 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 35 102 1 true 9 0 false 4 false false R1.htm 1001 - Document - Document And Entity Information Sheet http://www.grafindustrialcorp.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 1002 - Statement - CONDENSED BALANCE SHEET Sheet http://www.grafindustrialcorp.com/role/CondensedBalanceSheet CONDENSED BALANCE SHEET Statements 2 false false R3.htm 1003 - Statement - CONDENSED BALANCE SHEET (Parenthetical) Sheet http://www.grafindustrialcorp.com/role/CondensedBalanceSheetParenthetical CONDENSED BALANCE SHEET (Parenthetical) Statements 3 false false R4.htm 1004 - Statement - CONDENSED STATEMENTS OF OPERATIONS Sheet http://www.grafindustrialcorp.com/role/CondensedStatementsOfOperations CONDENSED STATEMENTS OF OPERATIONS Statements 4 false false R5.htm 1005 - Statement - CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) Sheet http://www.grafindustrialcorp.com/role/CondensedStatementsOfOperationsParenthetical CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) Statements 5 false false R6.htm 1006 - Statement - STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY Sheet http://www.grafindustrialcorp.com/role/StatementOfChangesInStockholderSEquity STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY Statements 6 false false R7.htm 1007 - Statement - STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical) Sheet http://www.grafindustrialcorp.com/role/StatementOfChangesInStockholderSEquityParenthetical STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical) Statements 7 false false R8.htm 1008 - Statement - CONDENSED STATEMENT OF CASH FLOWS Sheet http://www.grafindustrialcorp.com/role/CondensedStatementOfCashFlows CONDENSED STATEMENT OF CASH FLOWS Statements 8 false false R9.htm 1009 - Disclosure - Description of Organization and Business Operations Sheet http://www.grafindustrialcorp.com/role/DescriptionOfOrganizationAndBusinessOperations Description of Organization and Business Operations Notes 9 false false R10.htm 1010 - Disclosure - Summary of Significant Accounting Policies Sheet http://www.grafindustrialcorp.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 10 false false R11.htm 1011 - Disclosure - Initial Public Offering Sheet http://www.grafindustrialcorp.com/role/InitialPublicOffering Initial Public Offering Notes 11 false false R12.htm 1012 - Disclosure - Private Placement Sheet http://www.grafindustrialcorp.com/role/PrivatePlacement Private Placement Notes 12 false false R13.htm 1013 - Disclosure - Related Party Transactions Sheet http://www.grafindustrialcorp.com/role/RelatedPartyTransactions Related Party Transactions Notes 13 false false R14.htm 1014 - Disclosure - Commitments and Contingencies Sheet http://www.grafindustrialcorp.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 14 false false R15.htm 1015 - Disclosure - Stockholder's Equity Sheet http://www.grafindustrialcorp.com/role/StockholderSEquity Stockholder's Equity Notes 15 false false R16.htm 1016 - Disclosure - Subsequent Events Sheet http://www.grafindustrialcorp.com/role/SubsequentEvents Subsequent Events Notes 16 false false R17.htm 1017 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://www.grafindustrialcorp.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://www.grafindustrialcorp.com/role/SummaryOfSignificantAccountingPolicies 17 false false R18.htm 1018 - Disclosure - Description of Organization and Business Operations (Details Textual) Sheet http://www.grafindustrialcorp.com/role/DescriptionOfOrganizationAndBusinessOperationsDetailsTextual Description of Organization and Business Operations (Details Textual) Details http://www.grafindustrialcorp.com/role/DescriptionOfOrganizationAndBusinessOperations 18 false false R19.htm 1019 - Disclosure - Summary of Significant Accounting Policies (Details Textual) Sheet http://www.grafindustrialcorp.com/role/SummaryOfSignificantAccountingPoliciesDetailsTextual Summary of Significant Accounting Policies (Details Textual) Details http://www.grafindustrialcorp.com/role/SummaryOfSignificantAccountingPoliciesPolicies 19 false false R20.htm 1020 - Disclosure - Initial Public Offering (Details Textual) Sheet http://www.grafindustrialcorp.com/role/InitialPublicOfferingDetailsTextual Initial Public Offering (Details Textual) Details http://www.grafindustrialcorp.com/role/InitialPublicOffering 20 false false R21.htm 1021 - Disclosure - Private Placement (Details Textual) Sheet http://www.grafindustrialcorp.com/role/PrivatePlacementDetailsTextual Private Placement (Details Textual) Details http://www.grafindustrialcorp.com/role/PrivatePlacement 21 false false R22.htm 1022 - Disclosure - Related Party Transactions (Details Textual) Sheet http://www.grafindustrialcorp.com/role/RelatedPartyTransactionsDetailsTextual Related Party Transactions (Details Textual) Details http://www.grafindustrialcorp.com/role/RelatedPartyTransactions 22 false false R23.htm 1023 - Disclosure - Commitments and Contingencies (Details Textual) Sheet http://www.grafindustrialcorp.com/role/CommitmentsAndContingenciesDetailsTextual Commitments and Contingencies (Details Textual) Details http://www.grafindustrialcorp.com/role/CommitmentsAndContingencies 23 false false R24.htm 1024 - Disclosure - Stockholder's Equity (Details Textual) Sheet http://www.grafindustrialcorp.com/role/StockholderSEquityDetailsTextual Stockholder's Equity (Details Textual) Details http://www.grafindustrialcorp.com/role/StockholderSEquity 24 false false All Reports Book All Reports graf-20180930.xml graf-20180930.xsd graf-20180930_cal.xml graf-20180930_def.xml graf-20180930_lab.xml graf-20180930_pre.xml http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/us-gaap/2018-01-31 true true ZIP 42 0001144204-18-062209-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-18-062209-xbrl.zip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