10-Q Filing

KINETIK HOLDINGS INC. CIK: 1692787 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-256939`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	kaac-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 39 Income Statement 22 Cash Flow Statement 22 Stockholders Equity 10 Comprehensive Income 2

Balance Sheet 39 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$194.10K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.50K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.22M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investment held in trust account	`AssetsHeldInTrustCurrent`	$377.87M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$38.23K	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$674.00K	USD	Point-in-time
Total Assets	`Assets`	$379.08M	USD	Point-in-time
Total Assets	`Assets`	$45.73K	USD	Point-in-time
Accrued formation and offering costs	`AccruedFormationAndOfferingCostsCurrent`	$2.00K	USD	Point-in-time
Accrued formation and offering costs	`AccruedFormationAndOfferingCostsCurrent`	$3.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$932.00K	USD	Point-in-time
Accrued franchise taxes	`AccruedFranchiseTaxesCurrent`	$43.00K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$170.35K	USD	Point-in-time
Sponsor note	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$23.11K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.15M	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityCurrent`	$13.21M	USD	Point-in-time
Total Liabilities	`Liabilities`	$23.11K	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.35M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$23.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$5.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-735.65K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.38K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$22.62K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$379.08M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.73K	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.06M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.06M	USD	1 Quarter
Franchise tax expense	`FranchiseTaxExpense`	$43.00K	USD	1 Quarter
Franchise tax expense	`FranchiseTaxExpense`	$43.00K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.11M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.11M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.11M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.11M	USD	1 Quarter
Other income - investment income on Trust Account	`OtherNonoperatingIncomeExpense`	$544.02K	USD	2 Qtrs
Other income - investment income on Trust Account	`OtherNonoperatingIncomeExpense`	$544.02K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-562.92K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-562.92K	USD	2 Qtrs
Current income tax expense	`CurrentIncomeTaxExpenseBenefit`	$170.35K	USD	2 Qtrs
Current income tax expense	`CurrentIncomeTaxExpenseBenefit`	$170.35K	USD	1 Quarter
Net loss attributable to common shares	`NetIncomeLoss`	$-733.27K	USD	1 Quarter
Net loss attributable to common shares	`NetIncomeLoss`	$-733.27K	USD	2 Qtrs
Basic and diluted (excluding shares subject to redemption)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.24M	shares	2 Qtrs
Basic and diluted (excluding shares subject to redemption)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.04M	shares	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	2 Qtrs

Cash Flow Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-733.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-733.27K	USD	2 Qtrs
Trust income retained in Trust Account	`OtherNonoperatingIncomeExpense`	$544.02K	USD	2 Qtrs
Trust income retained in Trust Account	`OtherNonoperatingIncomeExpense`	$544.02K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$194.10K	USD	2 Qtrs
Increase in accrued expenses and taxes, net	`IncreaseDecreaseInAccruedTaxesPayable`	$1.14M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-327.16K	USD	2 Qtrs
Cash deposited into Trust Account	`CashDepositedInTrustAccount`	$377.32M	USD	2 Qtrs
Proceeds from Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$377.32M	USD	2 Qtrs
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$9.55M	USD	2 Qtrs
Payment of underwriting costs	`PaymentsOfStockIssuanceCosts`	$7.55M	USD	2 Qtrs
Payment of offering costs	`PaymentOfFinancingAndStockIssuanceCosts`	$635.91K	USD	2 Qtrs
Proceeds from Sponsor note	`ProceedsFromRelatedPartyDebt`	$245.00K	USD	2 Qtrs
Payment of Sponsor note	`RepaymentsOfRelatedPartyDebt`	$265.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$378.67M	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.02M	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Offering costs included in accrued formation and offering costs	`NoncashOfferingCostsIncludedInAccruedFormationAndOfferingCosts`	$2.00K	USD	2 Qtrs
Deferred underwriting compensation	`DeferredUnderwriterFee`	$13.21M	USD	2 Qtrs

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$22.62K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Sale of Class A Common Stock to Public	`StockIssuedDuringPeriodValueNewIssues`	$377.32M	USD	2 Qtrs
Underwriters' discount and offering expenses	`ExpenseRelatedToDistributionOrServicingAndUnderwritingFees`	$21.43M	USD	2 Qtrs
Sale of 6,364,281 Private Placement Warrants at $1.50 per warrant	`SaleOfPrivatePlacementWarrants`	$9.55M	USD	2 Qtrs
Shares subject to possible redemption	`SharesSubjectToPossibleRedemptionAmount`	$-359.73M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-733.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-733.27K	USD	2 Qtrs
Ending Balance	`StockholdersEquity`	$22.62K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Number of Private Placement Warrants	`NumberOfPrivatePlacementWarrants`	6.36M	shares	2 Qtrs
Private Placement Warrants price per share	`PrivatePlacementWarrantsPricePerShare`	$1.50	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.