10-Q Filing

KINETIK HOLDINGS INC. CIK: 1692787 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-340730`
Period End Date	20170930
Filing Date	20171113
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	kaac-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 26 Cash Flow Statement 23 Stockholders Equity 10 Comprehensive Income 2

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$555.25K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$130.79K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$686.05K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.50K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investment held in trust account	`AssetsHeldInTrustCurrent`	$378.28M	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`	$681.00K	USD	Point-in-time
Total Assets	`Assets`	$45.73K	USD	Point-in-time
Total Assets	`Assets`	$378.97M	USD	Point-in-time
Accrued formation and offering costs	`AccruedFormationAndOfferingCostsCurrent`	$3.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$685.17K	USD	Point-in-time
Accrued franchise taxes	`AccruedFranchiseTaxesCurrent`	$98.90K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$35.69K	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`	$819.77K	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityCurrent`	$13.21M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.03M	USD	Point-in-time
Total Liabilities	`Liabilities`	$23.11K	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`	$5.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.38K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-514.99K	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`	$378.97M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.73K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$276.96K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.34M	USD	3 Qtrs
Franchise tax expense	`FranchiseTaxExpense`	$98.90K	USD	3 Qtrs
Franchise tax expense	`FranchiseTaxExpense`	$55.90K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$332.86K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.44M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.44M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-332.86K	USD	1 Quarter
Other income - investment income on Trust Account	`OtherNonoperatingIncomeExpense`	$809.86K	USD	1 Quarter
Other income - investment income on Trust Account	`OtherNonoperatingIncomeExpense`	$1.35M	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-85.92K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$477.00K	USD	1 Quarter
Current income tax expense	`CurrentIncomeTaxExpenseBenefit`	$256.35K	USD	1 Quarter
Current income tax expense	`CurrentIncomeTaxExpenseBenefit`	$426.69K	USD	3 Qtrs
Net income (loss) attributable to common shares	`NetIncomeLoss`	$-512.61K	USD	3 Qtrs
Net income (loss) attributable to common shares	`NetIncomeLoss`	$220.66K	USD	1 Quarter
Basic (excluding shares subject to redemption)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.58M	shares	3 Qtrs
Basic (excluding shares subject to redemption)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.19M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.58M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.17M	shares	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.05	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	3 Qtrs

Cash Flow Statement 23 line items

Line Item	Tag	Value	Unit	Period
Income taxes paid	`IncomeTaxesPaid`	$391.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-512.61K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$220.66K	USD	1 Quarter
Trust income retained in Trust Account (net of $391,000 for income taxes paid)	`OtherNonoperatingIncomeExpense`	$809.86K	USD	1 Quarter
Trust income retained in Trust Account (net of $391,000 for income taxes paid)	`OtherNonoperatingIncomeExpense`	$1.35M	USD	3 Qtrs
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$130.79K	USD	3 Qtrs
Increase in accrued expenses and taxes, net	`IncreaseDecreaseInAccruedTaxesPayable`	$816.66K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-789.63K	USD	3 Qtrs
Cash deposited into Trust Account	`CashDepositedInTrustAccount`	$377.32M	USD	3 Qtrs
Proceeds from Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$377.32M	USD	3 Qtrs
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$9.55M	USD	3 Qtrs
Payment of underwriting costs	`PaymentsOfStockIssuanceCosts`	$7.55M	USD	3 Qtrs
Payment of offering costs	`PaymentOfFinancingAndStockIssuanceCosts`	$642.62K	USD	3 Qtrs
Proceeds from Sponsor note	`ProceedsFromRelatedPartyDebt`	$245.00K	USD	3 Qtrs
Payment of Sponsor note	`RepaymentsOfRelatedPartyDebt`	$265.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$378.66M	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$547.75K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$555.25K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$555.25K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwriterFee`	$13.21M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$391.00K	USD	3 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	3 Qtrs
Underwriters' discount and offering expenses	`ExpenseRelatedToDistributionOrServicingAndUnderwritingFees`	$21.43M	USD	3 Qtrs
Sale of 6,364,281 Private Placement Warrants at $1.50 per warrant	`SaleOfPrivatePlacementWarrants`	$9.55M	USD	3 Qtrs
Shares subject to possible redemption	`SharesSubjectToPossibleRedemptionAmount`	$359.94M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-512.61K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$220.66K	USD	1 Quarter
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	3 Qtrs
Private Placement Warrants price per share	`PrivatePlacementWarrantsPricePerShare`	$1.50	USD	3 Qtrs

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