Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (unaudited)

v3.20.1
Condensed Statements of Cash Flows (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 1,069,000 $ 318,000
Adjustments to reconcile net income to net cash used in operating activities:    
Interest income retained in Trust Account (1,822,000) (530,000)
Changes in operating assets and liabilities:    
Increase in prepaid expenses (56,000) (142,000)
Increase in accounts payable 7,000 5,000
Increase in accrued liabilities 50,000 91,000
Increase in deferred compensation 35,000
Increase in accrued income and franchise taxes and rounding 394,000 117,000
Net cash used in operating activities (323,000) (141,000)
Cash flows from investing activities:    
Cash deposited in Trust Account (303,152,000)
Cash withdrawn from Trust Account for taxes
Net cash used in investing activities
Cash flows from financing activities:    
Proceeds from sale of stock to Anchor Investor 3,000
Proceeds from Note payable to Sponsor 210,000
Proceeds from sale of Units to the public 300,150,000
Proceeds from sale of Private Placement Warrants 13,582,000
Payment of underwriting discounts (7,830,000)
Payment of offering costs (702,000)
Payment of Note payable to Sponsor (300,000)
Net cash provided by financing activities 305,113,000
Net increase (decrease) in cash (323,000) 1,820,000
Cash at beginning of period 1,124,000 6,000
Cash at end of period 801,000 1,826,000
Supplemental disclosure of non-cash financing activities:    
Deferred underwriters' compensation 10,179,000
Offering costs included in accounts payable $ 48,000