Quarterly report pursuant to Section 13 or 15(d)

Deferred Underwriting Commissions

v3.7.0.1
Deferred Underwriting Commissions
6 Months Ended
Jun. 30, 2017
Deferred Underwriting Commissions [Abstract]  
Deferred Underwriting Commissions
Note 7 — Deferred Underwriting Commissions
 
The Underwriter was paid a cash underwriting fee of two percent (2.0%) of the gross proceeds of the Public Offering, excluding any amounts raised pursuant to the overallotment option, or $6,000,000. In addition, the Underwriter is entitled to aggregate deferred underwriting commissions of $10,250,000 consisting of (i) three percent (3.0%) of the gross proceeds of the Public Offering, excluding any amounts raised pursuant to the overallotment option, and (ii) five percent (5.0%) of the gross proceeds of the Units sold in the Public Offering pursuant to the overallotment option. The deferred underwriting commissions will become payable to the Underwriter from the amounts held in the Trust Account solely in the event that the Company completes the Initial Business Combination, subject to the terms of the underwriting agreement.