10-K Filing

KINETIK HOLDINGS INC. CIK: 1692787 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001193125-18-097812`
Period End Date	20171231
Filing Date	20180327
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	kaac-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 20 Cash Flow Statement 28 Stockholders Equity 15 Comprehensive Income 3

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$479.06K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	$67.48K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.50K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$546.53K	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
Investment held in trust account	`AssetsHeldInTrustCurrent`	$379.18M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$38.23K	USD	Point-in-time
Total Assets	`Assets`	$379.72M	USD	Point-in-time
Total Assets	`Assets`	$45.73K	USD	Point-in-time
Accrued formation and offering costs	`AccruedFormationAndOfferingCostsCurrent`	$3.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$742.69K	USD	Point-in-time
Accrued franchise taxes	`AccruedFranchiseTaxesCurrent`	$200.05K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$304.88K	USD	Point-in-time
Sponsor note	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.25M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$23.11K	USD	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityCurrent`	$13.21M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.45M	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`	$5.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.38K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-189.48K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	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`	$45.73K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$379.72M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Point-in-time
Revenues	`Revenues`	-	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.38K	USD	Point-in-time
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.54M	USD	Annual
Franchise tax expense	`FranchiseTaxExpense`	$200.05K	USD	Annual
Total expenses	`OperatingExpenses`	$2.38K	USD	Point-in-time
Total expenses	`OperatingExpenses`	$1.74M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.38K	USD	Point-in-time
Loss from operations	`OperatingIncomeLoss`	$-1.74M	USD	Annual
Other income - investment income on Trust Account	`OtherNonoperatingIncomeExpense`	$2.25M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.38K	USD	Point-in-time
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$508.77K	USD	Annual
Current income tax expense	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
Current income tax expense	`CurrentIncomeTaxExpenseBenefit`	$695.88K	USD	Annual
Net loss attributable to common shares	`NetIncomeLoss`	$-2.38K	USD	Point-in-time
Net loss attributable to common shares	`NetIncomeLoss`	$-187.11K	USD	Annual
Basic and Diluted (excluding shares subject to redemption)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.68M	shares	Annual
Basic and Diluted (excluding shares subject to redemption)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.06M	shares	Point-in-time
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Point-in-time
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Income taxes paid	`IncomeTaxesPaid`	$391.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.38K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-187.11K	USD	Annual
Trust income retained in Trust Account (net of $391,000 for income taxes paid)	`OtherNonoperatingIncomeExpenseNetOfTax`	$1.86M	USD	Annual
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$67.48K	USD	Annual
Increase in accrued expenses and taxes, net	`IncreaseDecreaseInAccruedTaxesPayable`	$1.24M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.38K	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-865.83K	USD	Annual
Cash deposited into Trust Account	`CashDepositedInTrustAccount`	$377.32M	USD	Annual
Proceeds from Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$377.32M	USD	Annual
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$9.55M	USD	Annual
Payment of underwriting costs	`PaymentsOfStockIssuanceCosts`	$7.55M	USD	Annual
Payment of offering costs	`PaymentOfFinancingAndStockIssuanceCosts`	$35.12K	USD	Point-in-time
Payment of offering costs	`PaymentOfFinancingAndStockIssuanceCosts`	$642.62K	USD	Annual
Proceeds from Sponsor note	`ProceedsFromRelatedPartyDebt`	$20.00K	USD	Point-in-time
Proceeds from Sponsor note	`ProceedsFromRelatedPartyDebt`	$245.00K	USD	Annual
Payment of Sponsor note	`RepaymentsOfRelatedPartyDebt`	$265.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$9.88K	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$378.66M	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$471.56K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.50K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$479.06K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.50K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$479.06K	USD	Point-in-time
Deferred underwriting compensation and offering costs	`DeferredUnderwritingCompensationAndOfferingCosts`	$13.21M	USD	Annual
Deferred underwriting compensation and offering costs	`DeferredUnderwritingCompensationAndOfferingCosts`	$3.11K	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$391.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	-	USD	Point-in-time
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	Annual
Beginning Balance, Shares	`SharesOutstanding`	0.00	shares	Point-in-time
Sale of common stock to Sponsor at approximately $0.001 per share	`SaleOfCommonStockToSponsorsValue`	$25.00K	USD	Point-in-time
Underwriters' discount and offering expenses	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$21.43M	USD	Annual
Sale of 6,364,281 Private Placement Warrants at $1.50 per warrant	`SaleOfPrivatePlacementWarrants`	$9.55M	USD	Annual
Shares subject to possible redemption	`SharesSubjectToPossibleRedemptionAmount`	$360.27M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.38K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-187.11K	USD	Annual
Ending Balance	`StockholdersEquity`	-	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$22.62K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending Balance, Shares	`SharesOutstanding`	0.00	shares	Point-in-time

Comprehensive Income 3 line items

Line Item	Tag	Value	Unit	Period
Sale of common stock to Sponsor, per share	`SaleOfCommonStockToSponsorsPricePerShares`	$0.00	USD	Point-in-time
Number of Private Placement Warrants	`NumberOfPrivatePlacementWarrants`	6.36M	shares	Annual
Private Placement Warrants price per share	`PrivatePlacementWarrantsPricePerShare`	$1.50	USD	Annual

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