Item 6. Selected Financial Data.
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Item 6. Selected Financial Data.
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The following table summarizes selected historical financial data and should be read in conjunction with our audited financial statements and the notes related thereto which are included in “Item 8. Financial Statements and Supplementary Data” of this Annual Report on Form 10-K.
| Year Ended December 31, | For the period from April 25, 2016 (Inception) through December 31, 2016 | |||||||||||
| 2018 | 2017 | |||||||||||
| Statement of Operations Data | ||||||||||||
| Net income (loss) | $ | 5,030,748 | $ | (1,276 | ) | $ | (303,418 | ) | ||||
| Weighted average shares outstanding of Class A common stock | 69,000,000 | — | — | |||||||||
| Basic and diluted net income per share, Class A | $ | 0.06 | $ | — | $ | — | ||||||
| Weighted average shares outstanding of Class B common stock | 17,250,000 | 17,250,000 | 17,250,000 | |||||||||
| Basic and diluted net income per share, Class B | $ | 0.06 | $ | (0.00 | ) | $ | (0.02 | ) | ||||
| Statement of Cash Flows: | ||||||||||||
| Net cash provided by/ (used in) operating activities | $ | 710,388 | $ | — | $ | (25,000 | ) | |||||
| Net cash used in investing activities | $ | (690,000,000 | ) | $ | — | $ | — | |||||
| Net cash provided by financing activities | $ | 691,545,932 | $ | — | $ | 25,000 | ||||||
| Balance Sheets: | ||||||||||||
| Cash | $ | 835,544 | $ | — | $ | — | ||||||
| Working capital(1) | $ | 128,547 | $ | 23,724 | $ | 25,000 | ||||||
| Total assets | $ | 697,339,051 | $ | 25,000 | $ | 25,000 | ||||||
| Total liabilities | $ | 25,427,528 | $ | 1,276 | $ | — | ||||||
| Equity (deficit) | $ | 5,000,001 | $ | 23,724 | $ | 25,000 |
| (1) | Assumes income and franchise tax liabilities paid by Trust Account. |
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Previous: Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities · Next: Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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