XML 37 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments (Details) - USD ($)
1 Months Ended 6 Months Ended
Jul. 25, 2020
Jun. 30, 2020
Commitments (Details) [Line Items]    
Granted term   45 days
Percentage of underwriting discount   35.00%
Cash fee for services (in Dollars)   $ 4,550,000
Business Combination Description   The Company initially had until June 13, 2020 to consummate a Business Combination. On June 9, 2020, the Company held a special meeting in lieu of the 2020 annual stockholder meeting, pursuant to which the Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to extend the date by which the Company has to complete a Business Combination from June 13, 2020 to September 30, 2020 (the “Combination Period”). In connection with the approval of the extension, stockholders elected to redeem an aggregate of 34,868 shares of the Company’s common stock. As a result, an aggregate of $356,341 (or approximately $10.22 per share) was released from the Company’s Trust Account to pay such redeeming stockholders and 16,215,132 shares of common stock are now issued and outstanding.
Business Combination Agreement [Member] | Subsequent Event [Member]    
Commitments (Details) [Line Items]    
Business Combination Description (i) the Company’s stockholders will receive one Holdco common share in exchange for each share of the Company’s common stock held by them and (ii) the Clever Leaves shareholders will receive aggregate consideration with a value (the “Arrangement Consideration”) equal to (a) $229,500,000, minus (b) Clever Leaves’ net debt, minus (c) the amount, if any, by which Clever Leaves’ transaction expenses exceed Clever Leaves’ transaction expenses cap, plus (d) the amount, if any, by which the Company’s transaction expenses exceed the Company’s transaction expenses cap, minus (e) the aggregate value of the issued and outstanding options and warrants of Clever Leaves that are being converted into options and warrants of Holdco in the Clever Leaves Business Combination. The Arrangement Consideration minus up to $7,500,000 in cash payable to certain Clever Leaves shareholders (the “Cash Arrangement Consideration”) will be paid to Clever Leaves shareholders in Holdco common shares, based on a price per share of $10.00, and the Cash Arrangement Consideration will be paid to certain Clever Leaves shareholders in cash.  
Over-Allotment Option [Member] | Underwriters [Member] | Underwriters Agreement [Member]    
Commitments (Details) [Line Items]    
Number of unit issued (in Shares)   1,950,000
Percentage of underwriting discount   2.00%