XML 15 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED STATEMENT OF CASH FLOWS
3 Months Ended
Mar. 31, 2020
USD ($)
Cash Flows from Operating Activities:  
Net income $ 3,031,538
Adjustments to reconcile net income to net cash used in operating activities:  
Interest earned on marketable securities held in Trust Account (1,821,666)
Unrealized gain on marketable securities held in Trust Account (2,231,226)
Deferred tax provision 468,557
Changes in operating assets and liabilities:  
Prepaid expenses (428,449)
Accrued expenses 48,550
Income taxes payable 337,294
Net cash used in operating activities (595,402)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (1,100,000,000)
Net cash used in investing activities (1,100,000,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units, net of underwriting discounts paid 1,081,598,000
Proceeds from sale of Private Placement Warrants 23,000,000
Proceeds from promissory note - related party 209,600
Repayment of promissory note - related party (334,600)
Payment of offering costs (602,020)
Net cash provided by financing activities 1,103,870,980
Net Change in Cash 3,275,578
Cash - Beginning of period 34,000
Cash - End of period 3,309,578
Non-Cash investing and financing activities:  
Initial classification of common stock subject to redemption 1,060,389,960
Change in value of common stock subject to possible redemption 3,045,101
Deferred underwriting fee payable $ 38,500,000