Note 8 - Subsequent Events

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

Note

8

 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited financial statements were available to be issued on

December 7, 2020.

Based on this review, other than as described below, the Company did

not

identify any subsequent events that would have required adjustment to or disclosure in the unaudited financial statements.

On

October 26, 2020,

the Company fully repaid the

$150,000

promissory note due to the sponsor.

On

November 16, 2020,

BOC Yellowstone LLC transferred to BOC Yellowstone II LLC

206,250

shares of Class B common stock for

no

consideration. All other shares of Class B common stock are owned by BOC Yellowstone LLC.  BOC Yellowstone LLC sold to the lead investor in the Company's initial public offering a membership interest in BOC Yellowstone II LLC for a purchase price of

$309,375.

 Upon the completion of any business combination, BOC Yellowstone LLC has agreed to transfer the

206,250

shares of Class B common stock to this investor. Any Class B common stock ultimately distributed to the investor is subject to all restrictions imposed on the sponsor, including but

not

limited to, waiver of redemption rights in connection with completion of any initial business combination and rights to liquidating distributions from the trust account if the Company fails to complete the initial business combination. Any shares held by such investor will be subject to the anti-dilution provisions for the Class B common stock and the impact thereof.  BOC Yellowstone LLC is the sole managing member of BOC Yellowstone II LLC.

In connection with the underwriter's exercise of the over-allotment option on

December 1, 2020,

the Company decreased the number of founder shares to

3,399,724

shares, resulting in a purchase price of

$.00735

per share of Class B common stock. Also in connection with the exercise of the underwriters' overallotment option, BOC Yellowstone LLC purchased private placement warrants at a price of

$1.00

per whole warrant to purchase an additional

219,779

 shares of Class A common stock at a price of

$11.50

per share.