XML 35 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Merger Agreement (Details)
9 Months Ended
Sep. 30, 2020
USD ($)
$ / shares
shares
Merger Agreement (Textual)  
Aggregate consideration | $ $ 300,000,000
Acquire shares | shares 30,000,000
Additional common shares | shares 2,000,000
Cash | $ $ 110,000,000
Issuance of common stock value | $ $ 40,000,000
Merger Agreement, description (a) 859,000 Sponsor Shares will be restricted from being transferred unless and until either, for a period of five years after the Closing, (i) the share price of the Company equals or exceeds $12.00 per share for any 20 trading days within any consecutive 30-trading day period or (ii) a change of control occurs for a share price of the Company equaling or exceeding $12.00 per share, and (b) the remaining 859,000 Sponsor Shares are subject to similar restrictions except that the threshold is increased from $12.00 to $16.00. If after the five-year period, there are no triggering events, the Sponsor Shares will be forfeited and canceled for no consideration. If after the five-year period, only the triggering event described in clause (a) above has occurred, the remaining 859,000 Sponsor Shares described in clause (b) will be forfeited and canceled for no consideration.
Sponsor shares | shares 1,718,000
Purchase agreement, description The Equity Commitment Letter effectively terminated the forward purchase agreement entered at the time of the Public Offering requiring the Sponsor and its affiliate to purchase, immediately prior to the Closing, an aggregate of 2,500,000 units, each comprised of one share of Class A common stock and one-half of one warrant.
Merger Agreement [Member]  
Merger Agreement (Textual)  
Cash | $ $ 110,000,000
Class A Common Stock  
Merger Agreement (Textual)  
Common stock shares purchase | shares 4,000,000
Price per share | $ / shares $ 10.00