Quarterly report pursuant to Section 13 or 15(d)

Investments and Cash Held in Trust Account

v3.7.0.1
Investments and Cash Held in Trust Account
3 Months Ended
Mar. 31, 2017
Investments And Cash Held In Trust Account  
Investments and Cash Held in Trust Account

Note 5 — Investments and Cash Held in Trust Account

 

Upon the closing of the Public Offering and the Private Placement, $325,000,000 was placed in the Trust Account. At March 31, 2017, the Company’s Trust Account consisted of $597 of cash and $325,074,034 in investment securities, with investment securities consisting only of money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, which invest only in direct U.S. government obligations. Such investment securities are carried at cost, which approximates fair value.