XML 21 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 881,099 $ 634,539
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Interest earned on marketable securities held in Trust Account (1,607,050) (671,993)
Unrealized loss (gain) on marketable securities held in Trust Account 41,610 (246,592)
Deferred income tax (benefit) provision (7,085) 51,784
Changes in operating assets and liabilities:    
Prepaid expenses (6,099) (134,942)
Accounts payable and accrued expenses (161,886) 55,503
Income taxes payable 85,401 116,891
Net cash used in operating activities (774,010) (194,810)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account (287,500,000)
Cash withdrawn from Trust Account to pay income taxes 573,703
Net cash provided by (used in) investing activities 573,703 (287,500,000)
Cash Flows from Financing Activities:    
Proceeds from sale of Units, net of underwriting discounts paid 282,500,000
Proceeds from sale of Private Placement Warrants 7,000,000
Proceeds from promissory notes - related party 130,000
Repayment of promissory notes - related party (280,000)
Payment of offering costs (510,867)
Net cash provided by financing activities 288,839,133
Net Change in Cash (200,307) 1,144,323
Cash - Beginning 917,007 24,707
Cash - Ending 716,700 1,169,030
Supplemental cash flow information:    
Cash paid for income taxes 156,153
Non-cash investing and financing activities:    
Initial classification of common stock subject to redemption 273,048,700
Change in value of common stock subject to possible redemption 881,093 636,623
Deferred underwriting fee payable $ 10,812,500