Note 4 - Private Placement

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Warrants and Rights Note Disclosure [Text Block]

Note

4

 — Private Placement

Simultaneous with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of

7,500,000

Private Placement Warrants (which can increase to

7,875,000

Private Placement Warrants if the underwriters' over-allotment is exercised in full) at a price of

$1.00

per Private Placement Warrant from the Company in a private placement. Each Private Placement Warrant is exercisable for

one

share of Class A common stock at a price of

$11.50

per share, subject to adjustment (see Note

7

). Of the total

$7,500,000

in proceeds from the sale of the Private Placement Warrants,

$5,000,000

was added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does

not

complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.