TPG Pace Tech Opportunities 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	Pace Holdings Corp.
Entity Central Index Key	1,644,509
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Class A ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		45,000,000
Class F ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,250,000

Condensed Balance Sheets (unaud

Condensed Balance Sheets (unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 152,908	$ 1,117,746
Prepaid expenses	97,685	152,339
Total current assets	250,593	1,270,085
Investments held in Trust Account	450,400,348	450,000,000
Total assets	450,650,941	451,270,085
Current liabilities:
Accrued professional fees and other expenses	511,020	52,010
Accrued offering costs	24,930	565,804
Total current liabilities	535,950	617,814
Deferred underwriting compensation	15,750,000	15,750,000
Total liabilities	16,285,950	16,367,814
Commitments and contingencies
Class A ordinary shares subject to possible redemption; 42,936,499 and 42,990,227 shares at June 30, 2016 and December 31, 2015, respectively, at a redemption value of $10.00 per share	429,364,990	429,902,270
Shareholders' equity:
Preferred shares, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding
Additional paid-in capital	5,794,677	5,257,402
Accumulated deficit	(796,007)	(258,727)
Total shareholders' equity	5,000,001	5,000,001
Total liabilities and shareholders' equity	450,650,941	451,270,085
Class A ordinary shares
Shareholders' equity:
Ordinary shares value	206	201
Total shareholders' equity	206	201
Class F ordinary shares
Shareholders' equity:
Ordinary shares value	1,125	1,125
Total shareholders' equity	$ 1,125	$ 1,125

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) (unaudited) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred shares par value	$ 0.0001	$ 0.0001
Preferred shares authorized	1,000,000	1,000,000
Preferred shares issued	0	0
Preferred shares outstanding	0	0
Class A ordinary shares
Ordinary shares subject to possible redemption	42,936,499	42,990,227
Ordinary shares redemption per share	$ 10	$ 10
Ordinary shares par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	200,000,000	200,000,000
Ordinary shares issued	2,063,501	2,009,773
Ordinary shares outstanding	2,063,501	2,009,773
Class F ordinary shares
Ordinary shares par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	20,000,000	20,000,000
Ordinary shares issued	11,250,000	11,250,000
Ordinary shares outstanding	11,250,000	11,250,000

Condensed Statement of Operatio

Condensed Statement of Operations (unaudited) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2016
Income Statement [Abstract]
Revenue	$ 0	$ 0	$ 0
Professional fees and other expenses	28,500	695,762	937,628
Organizational costs	26,000
Loss from operations	(54,500)	(695,762)	(937,628)
Interest income		288,816	400,348
Net loss attributable to ordinary shares	$ (54,500)	$ (406,946)	$ (537,280)
Net loss per ordinary share:
Basic and diluted	$ (0.15)	$ (0.03)	$ (0.04)
Weighted average ordinary shares outstanding (excluding shares subject to possible redemption):
Basic and diluted	359,375	13,273,254	13,266,585

Condensed Statement of Changes

Condensed Statement of Changes in Shareholders' Equity (unaudited) - USD ($)	Total	Preferred Shares	Additional Paid In Capital	Accumulated Deficit	Class A ordinary shares	Class F ordinary shares
Balance at Jun. 02, 2015	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Balance, Shares at Jun. 02, 2015		0			0	0
Sale of Class F ordinary shares to Sponsor on June 30, 2015 at $0.002 per share	25,000	$ 0	23,994	0	$ 0	$ 1,006
Sale of Class F ordinary shares on June 30, 2015 to Sponsor at $0.002 per share, Shares		0			0	10,062,500
Net loss attributable to ordinary shares	(54,500)	$ 0	0	(54,500)	$ 0	$ 0
Balance at Jun. 30, 2015	(29,500)	$ 0	23,994	(54,500)	$ 0	$ 1,006
Balance, Shares at Jun. 30, 2015		0			0	10,062,500
Balance at Dec. 31, 2015	5,000,001	$ 0	5,257,402	(258,727)	$ 201	$ 1,125
Balance, Shares at Dec. 31, 2015		0			2,009,773	11,250,000
Changes in shares subject to possible redemption	537,280	$ 0	537,275	0	$ 5	$ 0
Changes in shares subject to possible redemption, Shares		0			53,728	0
Net loss attributable to ordinary shares	(537,280)	$ 0	0	(537,280)	$ 0	$ 0
Balance at Jun. 30, 2016	$ 5,000,001	$ 0	$ 5,794,677	$ (796,007)	$ 206	$ 1,125
Balance, Shares at Jun. 30, 2016		0			2,063,501	11,250,000

Condensed Statement of Changes6

Condensed Statement of Changes in Shareholders' Equity (unaudited) (Parenthetical)	Jun. 30, 2015$ / shares
Class F ordinary shares
Shares issued, price per share	$ 0.002

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows (unaudited) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2016
Cash flows from operating activities:
Net loss attributable to ordinary shares	$ (54,500)	$ (406,946)	$ (537,280)
Changes in operating assets and liabilities:
Deferred offering costs	(218,035)
Prepaid expenses			54,654
Accrued formation costs and other expenses	272,535		459,010
Interest on investments held in Trust Account		(288,816)	(400,348)
Net cash used by operating activities			(423,964)
Cash flows from financing activities:
Payments of accrued offering costs			(540,874)
Proceeds from notes payable - related party	200,000
Proceeds from sale of ordinary shares to Sponsor	25,000
Net cash used by financing activities	225,000		(540,874)
Net decrease in cash	225,000		(964,838)
Cash at beginning of period			1,117,746
Cash at end of period	$ 225,000	$ 152,908	152,908
Supplemental disclosure of non-cash financing activities:
Accrued offering costs			$ 24,930

Organization and Business Opera

Organization and Business Operations	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations Organization and General Pace Holdings Corp. (the “Company”) was incorporated in the Cayman Islands on June 3, 2015 under the name Paceline Holdings Corp. The Company changed its name to Pace Holdings Corp. on August 7, 2015. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The Company’s sponsor is TPACE Sponsor Corp., a Cayman Islands exempted company (the “Sponsor”). All activity for the period from June 3, 2015 (inception) to June 30, 2016 relates to the Company’s formation and initial public offering of units consisting of the Company’s Class A ordinary shares and warrants to purchase Class A ordinary shares (the “Public Offering”), and the identification and evaluation of prospective acquisition targets for a Business Combination. The Company will not generate any operating revenues until after completion of a Business Combination at the earliest. The Company has selected December 31st as its fiscal year end. Financing The registration statement for the Company’s Public Offering was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 10, 2015. The Public Offering closed on September 16, 2015 (the “Close Date”). The Company’s Sponsor purchased $11,000,000 of warrants in a private placement at the Close Date. The Company intends to finance a Business Combination with proceeds from its $450,000,000 Public Offering and $11,000,000 private placement (see Note 3). At the Close Date, $450,000,000 of the proceeds from the Public Offering and private placement were deposited in a trust account with Continental Stock Transfer and Trust Company acting as trustee (the “Trust Account”). At June 30, 2016, all Trust Account funds were invested in a money market account invested in permitted United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), having a maturity of 180 days or less, or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act (“Money Market Investments”). At the Close Date, the Company held proceeds from the Public Offering and private placement outside the Trust Account of $11,000,000, of which $9,000,000 was used to pay underwriting discounts and $300,000 was used to repay notes payable from the Sponsor. The balance was reserved to pay accrued offering and formation costs, business, legal and accounting due diligence on prospective acquisitions and continuing general and administrative expenses. The Trust Account On January 4, 2016, funds held in the Trust Account were invested in Money Market Investments. Trust Account funds will not be removed except for the withdrawal of a portion of interest income to be utilized to pay taxes, if any, until the earliest of (i) the completion of a Business Combination, (ii) the redemption of any Class A ordinary shares issued as part of the units in the Public Offering (“Public Shares”) properly tendered in connection with a shareholder vote to amend the amended and restated memorandum and articles of association to modify the substance and timing of the Company’s obligation to redeem 100% of the Public Shares if the Company does not complete a Business Combination within 24 months after the Close Date, or (iii) the redemption of all of the Company’s Public Shares if it is unable to complete a Business Combination within 24 months after the Close Date, subject to applicable law. Business Combination The Company has broad discretion with respect to the specific application of the net proceeds of the Public Offering, although substantially all of the net proceeds of the Public Offering are intended to be generally applied toward consummating a Business Combination with, or acquisition of, one or more target businesses that together have a fair market equal to at least 80% of the balance of the Trust Account, net of any deferred underwriting discounts and taxes payable on earned interest, at the date a definitive agreement to proceed with a Business Combination is signed. There is no assurance that the Company will be able to successfully effect a Business Combination. The Company, after signing a definitive agreement for a Business Combination, will either (i) seek shareholder approval of the Business Combination at a meeting called for such purpose in connection with which shareholders may seek to redeem their shares, regardless of whether they vote for or against the Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest but less taxes payable, or (ii) provide shareholders with the opportunity to sell their shares to the Company by means of a tender offer (and thereby avoid the need for a shareholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to commencement of the tender offer, including interest but less taxes payable. The decision as to whether the Company will seek shareholder approval of a Business Combination or will allow shareholders to sell their shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek shareholder approval, unless a vote is required by NASDAQ rules or otherwise required by law. If the Company seeks shareholder approval, it will complete a Business Combination only if a majority of the outstanding ordinary shares voted are voted in favor of the Business Combination. However, in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets, or total shareholder’s equity, to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its Public Shares and related Business Combination, and would resume its search for an alternate Target Business with which to undertake a Business Combination. If the Company holds a shareholder vote or there is a tender offer for shares in connection with a Business Combination, a public shareholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest but less taxes payable. As a result, such ordinary shares are recorded at their redemption amount and classified as temporary equity in accordance with Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity” (“ASC 480”). The Company has 24 months from the Close Date to complete a Business Combination. If the Company does not complete a Business Combination within this time period, it shall (i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public Shares, at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest, net of tax (less up to $50,000 of such net interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish the shareholder rights of owners of Class A ordinary shares (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and the Company’s four independent directors (collectively, the “Initial Shareholders”) have entered into a letter agreement with the Company, pursuant to which they have waived their rights to liquidating distributions from the Trust Account with respect to the Founder Shares if the Company fails to complete a Business Combination within 24 months after the Close Date. However, if the Initial Shareholders acquire Public Shares after the Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete the Business Combination within 24 months after the Close Date. If the Company fails to complete a Business Combination within 24 months after the Close Date, the resulting redemption of the Company’s Class A ordinary shares will reduce the book value per share for the Class F ordinary shares held by the Initial Shareholders, who would be the only remaining shareholders after such a redemption. If the Company completes a Business Combination within 24 months after the Close Date, funds in the Trust Account will be used to pay for the Business Combination, redemptions of Class A ordinary shares, if any, the deferred underwriting compensation of $15,750,000 and accrued expenses related to the Business Combination. Any funds remaining will be made available to the Company to provide working capital to finance the Company’s business operations. Going Concern The accompanying unaudited interim condensed financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. For the three months ended June 30, 2016, the Company incurred a loss of $406,946, due primarily to costs associated with identifying and evaluating potential Business Combinations, and at June 30, 2016, the Company had negative working capital. The Company's ability to continue as a going concern is dependent upon its ability to consummate a Business Combination or obtain additional funds. Management's options for obtaining additional working capital include potentially requesting loans from the Sponsor or affiliates of the Sponsor, or certain of the Company’s executive officers or directors. Additional funds could also be raised through a private offering of debt or equity. There can be no assurance that the Company will be able to raise such funds. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The accompanying unaudited interim condensed financial statements do not include any adjustments that might arise as a result of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the SEC, and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position at June 30, 2016 and the results of operations and cash flows for the period presented. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for the full year or any future periods. The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed by the Company with the SEC. Reclassification Certain amounts in the unaudited interim condensed financial statements at December 31, 2015 have been reclassified to conform to the presentation of financial information at June 30, 2016. These reclassifications have no effect on results as previously reported. Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution which, at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. Financial Instruments The fair values of the Company’s assets and liabilities which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximate the carrying amounts represented in the condensed balance sheets due to their short-term nature. Fair Value Measurement ASC 820 establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets will typically have a higher degree of input observability and a lesser degree of judgment applied in determining fair value. The three levels of the fair value hierarchy under ASC 820 are as follows: Level I – Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used. Level II – Pricing inputs are other than quoted prices included within Level I that are observable for the investment, either directly or indirectly. Level II pricing inputs include quoted prices for similar investments in active markets, quoted prices for identical or similar investments in markets that are not active, inputs other than quoted prices that are observable for the investment, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level III – Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. The inputs used in determination of fair value require significant judgment and estimation. In some cases, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the investment is categorized in its entirety is determined based on the lowest level input that is significant to the investment. Assessing the significance of a particular input to the valuation of an investment in its entirety requires judgment and considers factors specific to the investment. The categorization of an investment within the hierarchy is based upon the pricing transparency of the investment and does not necessarily correspond to the perceived risk of that investment. Redeemable Ordinary Shares All 45,000,000 Class A ordinary shares sold as part of the units in the Public Offering contain a redemption feature as discussed in Note 1. In accordance with ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Class A ordinary shares in an amount that would cause its net tangible assets, or total shareholders’ equity, to fall below $5,000,001. Accordingly, at June 30, 2016 and December 31, 2015, 42,936,499 and 42,990,227, respectively, of the Company’s 45,000,000 Class A ordinary shares were classified outside of permanent equity. Net Loss per Ordinary Share Net loss per ordinary share is computed by dividing net loss attributable to ordinary shares by the weighted average number of ordinary shares outstanding during the period, plus, to the extent dilutive, the incremental number of ordinary shares to settle warrants, as calculated using the treasury stock method. At June 30, 2016, the Company had outstanding warrants for the purchase of up to 22,333,333 Class A ordinary shares. For all periods presented, the weighted average of these shares was excluded from the calculation of diluted net loss per ordinary share because its inclusion would have been anti-dilutive. As a result, diluted net loss per ordinary share is equal to basic net loss per ordinary share. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Offering Costs The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” The Company incurred offering costs in connection with its Public Offering of $1,114,002, primarily consisting of accounting and legal services, securities registration expenses and exchange listing fees. These costs, along with paid and deferred underwriter discounts totaling $24,750,000, were charged to additional paid-in capital at the Close Date. Income Taxes The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes” (“ASC 740”). Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Public Offering

Public Offering	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Public Offering	3. Public Offering In its Public Offering, the Company sold 45,000,000 units at a price of $10.00 per unit (the “Units”). Each Unit consists of one of the Company’s Class A ordinary shares, $0.0001 par value, and one redeemable Class A ordinary share purchase warrant (“Warrant”). The Company has agreed to use its best efforts to file a registration statement, and cause such registration statement to become effective under the Securities Act, covering the Class A ordinary shares underlying the Warrants following the completion of a Business Combination. Each Warrant entitles the holder to purchase one third of one Class A ordinary share for one third of $11.50 per one third share. Warrants may be exercised only for a whole number of ordinary shares; no fractional shares will be issued upon exercise of the Warrants. If, upon exercise of the Warrants, a holder would be entitled to receive a fractional interest in a share, the Company will round down to the nearest whole number the number of Class A ordinary shares to be issued to the Warrant holder. Each Warrant will become exercisable on the later of 30 days after the completion of a Business Combination or 12 months from the Close Date, and will expire after the earlier of five years after the completion of a Business Combination, or upon redemption or liquidation. Alternatively, if the Company does not complete a Business Combination within 24 months after the Close Date, the Warrants will expire at the end of such period. If the Company is unable to deliver registered Class A ordinary shares to a holder upon exercise of Warrants issued in connection with the 45,000,000 Units during the exercise period, the Warrants will expire worthless, except to the extent that they may be exercised on a cashless basis in the circumstances described in the Warrant agreement. Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole, but not in part, at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, and only in the event that the last sale price of the Company’s Class A ordinary shares equals or exceeds $18.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Warrant holders. The Company paid an underwriting discount of 2.00% of the gross proceeds of the Public Offering, or $9,000,000, to the underwriters at the Close Date, with an additional fee (the “Deferred Discount”) of 3.50% of the gross proceeds of the Public Offering, or $15,750,000, payable upon the Company’s completion of a Business Combination. The Deferred Discount will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes a Business Combination. The underwriters are not entitled to receive any of the interest earned on Trust Account funds that would be used to pay the Deferred Discount. The Deferred Discount is recorded as deferred underwriter compensation at the Company’s condensed balance sheet.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	4. Related Party Transactions Founder Shares On June 30, 2015, the Sponsor purchased 10,062,500 Class F ordinary shares for $25,000, or approximately $0.002 per share. On September 4, 2015, the Sponsor transferred 35,000 Class F ordinary shares to each of the Company’s four independent directors at their original purchase price. Immediately prior to the pricing of the Public Offering, on September 10, 2015, the Company’s board of directors effected a capitalization of 1,437,500 Class F ordinary shares to the Initial Shareholders, resulting in an aggregate issuance of 11,500,000 Class F ordinary shares (the “Founder Shares”) of which 1,500,000 shares were subject to forfeiture by the Sponsor if the underwriters’ over-allotment option was not exercised in full by a specified date. On October 25, 2015, the Sponsor forfeited 250,000 Founder Shares on the expiration of the unexercised portion of the underwriters’ over-allotment option. Following the capitalization and forfeiture, The Founder Shares are identical to the Class A ordinary shares included in the Units sold in the Public Offering except that the Founder Shares are subject to certain rights and transfer restrictions, as described in further detail below, and are automatically converted into Class A ordinary shares at the time of a Business Combination on a one-for-one basis, subject to adjustment pursuant to the anti-dilution provisions contained in the Company’s amended and restated memorandum and articles of association. The Initial Shareholders have agreed not to transfer, assign or sell any Founder Shares until the earlier of (i) one year after the completion of a Business Combination, or earlier if, subsequent to a Business Combination, the last sale price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination or (ii) the date at which the Company completes a liquidation, merger, stock exchange or other similar transaction after a Business Combination that results in all of the Company’s public shareholders having the right to exchange their ordinary shares for cash, securities or other property (the “Lock Up Period”). Private Placement Warrants Prior to the Close Date, the Sponsor purchased 22,000,000 warrants at a price of $0.50 per warrant, or $11,000,000, in a private placement (the “Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase one third of one Class A ordinary share for one third of $11.50 per one third share. Private Placement Warrants may not be redeemed by the Company so long as they are held by the Sponsor or its permitted transferees. If any Private Placement Warrants are transferred to holders other than the Sponsor or its permitted transferees, such Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the Warrants included in the Units sold in the Public Offering. The Sponsor or its permitted transferees have the option to exercise the Private Placement Warrants on a cashless basis. If the Company does not complete a Business Combination within 24 months after the Close Date, the proceeds of the sale of the Private Placement Warrants will be used to fund the redemption of the Company’s Class A ordinary shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. Registration Rights Holders of the Founder Shares and Private Placement Warrants hold registration rights pursuant to a registration rights agreement. The holders of these securities are entitled to make up to three demands that the Company register the Private Placement Warrants, Class A ordinary shares underlying the Private Placement Warrants and Class F ordinary shares. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed by the Company subsequent to its completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable Lock Up Period. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Related Party Notes Between Inception and the Close Date, the Sponsor loaned the Company $300,000 in unsecured promissory notes. The funds were used to pay up front expenses associated with the Public Offering. These notes were non-interest bearing and were repaid in full to the Sponsor at the Close Date. Administrative Services Agreement On September 10, 2015, the Company entered into an agreement to pay monthly recurring expenses of $10,000 for office space, administrative and support services to an affiliate of the Sponsor effective at the Close Date. The agreement terminates upon the earlier of the completion of a Business Combination or the liquidation of the Company. For the three and six months ended June 30, 2016, the Company incurred expenses of $30,000 and $60,000, respectively, under this agreement.

Investments Held in Trust Accou

Investments Held in Trust Account	6 Months Ended
	Jun. 30, 2016
Assets Held In Trust [Abstract]
Investments Held in Trust Account	5. Investments Held in Trust Account Gross proceeds of $450,000,000 and $11,000,000 from the Public Offering and the sale of the Private Placement Warrants, respectively, less underwriting discounts of $9,000,000; and funds of $2,000,000 designated to pay the Company’s accrued formation and offering costs, ongoing administrative and acquisition search costs, plus repay notes payable of $300,000 to the Sponsor at the Close Date were placed in the Trust Account at the Close Date. On January 4, 2016, funds held in the Trust Account were invested in Money Market Investments, which are considered Level 1 investments under ASC 820. For the three and six months ended June 30, 2016, the investments held in the Trust Account generated interest income of $288,816 and $400,348, respectively, all of which was reinvested in Money Market Investments. At June 30, 2016, the balance of funds held in the Trust Account was $450,400,348.

Deferred Underwriting Compensat

Deferred Underwriting Compensation	6 Months Ended
	Jun. 30, 2016
Deferred Underwriting Compensation [Abstract]
Deferred Underwriting Compensation	6. Deferred Underwriting Compensation The Company is committed to pay the Deferred Discount of 3.50% of the gross proceeds of the Public Offering, or $15,750,000, to the underwriters upon the Company’s completion of a Business Combination. The underwriters are not entitled to receive any of the interest earned on Trust Account funds that would be used to pay the Deferred Discount, and no Deferred Discount is payable to the underwriters if a Business Combination is not completed within 24 months after the Close Date.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2016
Stockholders Equity Note [Abstract]
Shareholders’ Equity	7. Shareholders’ Equity Class A Ordinary Shares The Company is authorized to issue 200,000,000 Class A ordinary shares. Depending on the terms of a potential Business Combination, the Company may be required to increase the number of authorized Class A ordinary shares at the same time as its shareholders vote on the Business Combination to the extent the Company seeks shareholder approval in connection with its Business Combination. Holders of Class A ordinary shares are entitled to one vote for each share with the exception that prior to the completion of a Business Combination only holders of Class F ordinary shares have the right to vote on the election of directors. At June 30, 2016, there were 45,000,000 Class A ordinary shares issued and outstanding, of which 42,936,499 shares were subject to possible redemption. Class F Ordinary Shares The Company is authorized to issue 20,000,000 Class F ordinary shares. Holders of the Company’s Class F ordinary shares are entitled to one vote for each ordinary share, plus prior to the completion of a Business Combination only holders of Class F ordinary shares have the right to vote on the election of directors. Class F ordinary shares are automatically converted to Class A ordinary shares on a one-for-one basis, subject to adjustment, at the time of a Business Combination. The Initial Shareholders, the sole holders of Class F ordinary shares, have agreed not to transfer, assign or sell any Class F ordinary shares during the Lock Up Period. At June 30, 2016, there were 11,250,000 Class F ordinary shares issued and outstanding. Preferred Shares The Company is authorized to issue 1,000,000 preferred shares. The Company’s board of directors has the authority to determine the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the preferred shares of each series. The board of directors may, without shareholder approval, issue preferred shares with voting and other rights that could adversely affect the voting power and other rights of the holders of Class A ordinary shares, and which could have anti-takeover effects. At June 30, 2016, there were no shares of preferred stock issued or outstanding.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events Management has performed an evaluation of subsequent events through August 4, 2016, the date the unaudited condensed financial statements were issued, noting no subsequent events which require adjustment or disclosure.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the SEC, and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position at June 30, 2016 and the results of operations and cash flows for the period presented. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for the full year or any future periods. The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed by the Company with the SEC.
Reclassification	Reclassification Certain amounts in the unaudited interim condensed financial statements at December 31, 2015 have been reclassified to conform to the presentation of financial information at June 30, 2016. These reclassifications have no effect on results as previously reported.
Emerging Growth Company	Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution which, at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Financial Instruments	Financial Instruments The fair values of the Company’s assets and liabilities which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximate the carrying amounts represented in the condensed balance sheets due to their short-term nature.
Fair Value Measurement	Fair Value Measurement ASC 820 establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets will typically have a higher degree of input observability and a lesser degree of judgment applied in determining fair value. The three levels of the fair value hierarchy under ASC 820 are as follows: Level I – Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used. Level II – Pricing inputs are other than quoted prices included within Level I that are observable for the investment, either directly or indirectly. Level II pricing inputs include quoted prices for similar investments in active markets, quoted prices for identical or similar investments in markets that are not active, inputs other than quoted prices that are observable for the investment, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level III – Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. The inputs used in determination of fair value require significant judgment and estimation. In some cases, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the investment is categorized in its entirety is determined based on the lowest level input that is significant to the investment. Assessing the significance of a particular input to the valuation of an investment in its entirety requires judgment and considers factors specific to the investment. The categorization of an investment within the hierarchy is based upon the pricing transparency of the investment and does not necessarily correspond to the perceived risk of that investment.
Redeemable Ordinary Shares	Redeemable Ordinary Shares All 45,000,000 Class A ordinary shares sold as part of the units in the Public Offering contain a redemption feature as discussed in Note 1. In accordance with ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Class A ordinary shares in an amount that would cause its net tangible assets, or total shareholders’ equity, to fall below $5,000,001. Accordingly, at June 30, 2016 and December 31, 2015, 42,936,499 and 42,990,227, respectively, of the Company’s 45,000,000 Class A ordinary shares were classified outside of permanent equity.
Net Loss per Ordinary Share	Net Loss per Ordinary Share Net loss per ordinary share is computed by dividing net loss attributable to ordinary shares by the weighted average number of ordinary shares outstanding during the period, plus, to the extent dilutive, the incremental number of ordinary shares to settle warrants, as calculated using the treasury stock method. At June 30, 2016, the Company had outstanding warrants for the purchase of up to 22,333,333 Class A ordinary shares. For all periods presented, the weighted average of these shares was excluded from the calculation of diluted net loss per ordinary share because its inclusion would have been anti-dilutive. As a result, diluted net loss per ordinary share is equal to basic net loss per ordinary share.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Offering Costs	Offering Costs The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” The Company incurred offering costs in connection with its Public Offering of $1,114,002, primarily consisting of accounting and legal services, securities registration expenses and exchange listing fees. These costs, along with paid and deferred underwriter discounts totaling $24,750,000, were charged to additional paid-in capital at the Close Date.
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes” (“ASC 740”). Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Organization and Business Ope17

Organization and Business Operations - Additional Information (Details) - USD ($)	Sep. 16, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Schedule Of Organization And Business Operations Plan [Line Items]
Incorporation date				Jun. 3, 2015
Proceeds from issuance of private placement				$ 11,000,000
Public Offering closing date				Sep. 16, 2015
Proceeds from issuance of public offering				$ 450,000,000
Cash			$ 152,908	$ 152,908	$ 1,117,746
Percentage obligation to redeem public shares				100.00%
Minimum value of net tangible assets, or shareholders equity required			5,000,001	$ 5,000,001
Business combination condition, description				The Company has 24 months from the Close Date to complete a Business Combination. If the Company does not complete a Business Combination within this time period, it shall (i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public Shares, at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest, net of tax (less up to $50,000 of such net interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish the shareholder rights of owners of Class A ordinary shares (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and the Company’s four independent directors (collectively, the “Initial Shareholders”) have entered into a letter agreement with the Company, pursuant to which they have waived their rights to liquidating distributions from the Trust Account with respect to the Founder Shares if the Company fails to complete a Business Combination within 24 months after the Close Date. However, if the Initial Shareholders acquire Public Shares after the Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete the Business Combination within 24 months after the Close Date.
Deferred underwriting compensation			15,750,000	$ 15,750,000	$ 15,750,000
Loss incurred due primarily to costs associated with identifying and evaluating potential Business Combinations		$ 54,500	406,946	$ 537,280
Minimum
Schedule Of Organization And Business Operations Plan [Line Items]
Percentage of trust account balance equal to target businesses fair market value				80.00%
Maximum
Schedule Of Organization And Business Operations Plan [Line Items]
Net interest to pay dissolution expenses				$ 50,000
Public Offering
Schedule Of Organization And Business Operations Plan [Line Items]
Proceeds from issuance of public offering				450,000,000
Underwriting discounts				9,000,000
Deferred underwriting compensation			$ 15,750,000	15,750,000
Public Offering and Private Placement
Schedule Of Organization And Business Operations Plan [Line Items]
Proceeds from issuance of public offering	$ 450,000,000
TPACE Sponsor Corp.
Schedule Of Organization And Business Operations Plan [Line Items]
Cash	11,000,000
Underwriting discounts				9,000,000
Repayment of notes payable				$ 300,000
TPACE Sponsor Corp. | Warrant
Schedule Of Organization And Business Operations Plan [Line Items]
Proceeds from issuance of private placement	$ 11,000,000

Summary of Significant Accoun18

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Federal depository insurance coverage		$ 250,000
Minimum value of net tangible assets, or shareholders equity required		5,000,001
Maximum underwriter discount		24,750,000
Accrued interest and penalties		0
State franchise taxes		$ 0
Public Offering
Significant Accounting Policies [Line Items]
Public offering, number of units sold		45,000,000
Deferred offering costs		$ 1,114,002
Class A ordinary shares
Significant Accounting Policies [Line Items]
Public offering, number of units sold	0
Minimum value of net tangible assets, or shareholders equity required		$ 5,000,001
Ordinary shares subject to possible redemption		42,936,499	42,990,227
Class A ordinary shares | Maximum
Significant Accounting Policies [Line Items]
The maximum possible number of Class A shares that can be issued under warrants		22,333,333
Class A ordinary shares | Public Offering
Significant Accounting Policies [Line Items]
Public offering, number of units sold		45,000,000

Public Offering - Additional In

Public Offering - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Deferred discount payable upon completion of business combination		$ 15,750,000	$ 15,750,000
Class A ordinary shares
Public offering, number of units sold	0
Ordinary shares par value		$ 0.0001	$ 0.0001
Public Offering
Public offering, number of units sold		45,000,000
Public offering, price per unit sold		$ 10
Sale of units description		Each Unit consists of one of the Company’s Class A ordinary shares, $0.0001 par value, and one redeemable Class A ordinary share purchase warrant (“Warrant”).
Warrant redemption price		$ 0.01
Business combination period allowed after close date to exercise warrants		24 months
Warrant redemption terms		Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole, but not in part, at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, and only in the event that the last sale price of the Company’s Class A ordinary shares equals or exceeds $18.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Warrant holders.
Underwriting discount percentage		2.00%
Underwriting discounts		$ 9,000,000
Deferred discount percentage		3.50%
Deferred discount payable upon completion of business combination		$ 15,750,000
Public Offering | Class A ordinary shares
Public offering, number of units sold		45,000,000
Ordinary shares par value		$ 0.0001
Warrant holder entitled to purchase common stock per one share		0.33%
Warrant redemption price		$ 11.50
Warrant holder entitled to purchase common stock percentage		0.33%
Public Offering | Warrant
Sale of units description		Each Warrant entitles the holder to purchase one third of one Class A ordinary share for one third of $11.50 per one third share.
Public Offering | Warrant | Class A ordinary shares
Stock price at which warrants may be redeemed		$ 18

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	Oct. 25, 2015shares	Sep. 16, 2015USD ($)$ / sharesshares	Sep. 10, 2015USD ($)shares	Sep. 04, 2015Directorshares	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares
Related Party Transaction [Line Items]
Ordinary shares issued, value | $					$ 25,000
Number of independent directors | Director				4
Proceeds from sale of Private Placement Warrants to Sponsor | $							$ 11,000,000
Administrative Services Agreement
Related Party Transaction [Line Items]
Related party transaction, description of transaction							The agreement terminates upon the earlier of the completion of a Business Combination or the liquidation of the Company.
Related party transaction expense | $			$ 10,000			$ 30,000	$ 60,000
Class F ordinary shares
Related Party Transaction [Line Items]
Public offering, number of units sold			11,500,000		10,062,500
Ordinary shares transferred				35,000
Ordinary shares issued, value | $					$ 1,006
Ordinary shares issued, price per share | $ / shares					$ 0.002
Ordinary shares subject to forfeiture			1,500,000
Class A ordinary shares
Related Party Transaction [Line Items]
Public offering, number of units sold					0
Ordinary shares issued, value | $					$ 0
Common stock conversion ratio							one-for-one basis
Class A ordinary shares | Private Placement
Related Party Transaction [Line Items]
Business combination period allowed after close date to exercise warrants							24 months
TPACE Sponsor Corp.
Related Party Transaction [Line Items]
Unsecured promissory notes | $		$ 300,000
TPACE Sponsor Corp. | Warrant
Related Party Transaction [Line Items]
Proceeds from sale of Private Placement Warrants to Sponsor | $		11,000,000
TPACE Sponsor Corp. | Class F ordinary shares
Related Party Transaction [Line Items]
Public offering, number of units sold					10,062,500
Ordinary shares issued, value | $					$ 25,000
Ordinary shares issued, price per share | $ / shares					$ 0.002
Ordinary shares Sponsor			11,090,000
TPACE Sponsor Corp. | Class F ordinary shares | Over-Allotment Option
Related Party Transaction [Line Items]
Class F ordinary shares forfeited by Initial Shareholders on October 25,2015, Shares	250,000
Independent Director | Class F ordinary shares
Related Party Transaction [Line Items]
Ordinary shares per independent director						40,000	40,000
Initial Shareholders | Class F ordinary shares
Related Party Transaction [Line Items]
Public offering, number of units sold			1,437,500
Related party transaction, description of transaction							The Initial Shareholders have agreed not to transfer, assign or sell any Founder Shares until the earlier of (i) one year after the completion of a Business Combination, or earlier if, subsequent to a Business Combination, the last sale price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination or (ii) the date at which the Company completes a liquidation, merger, stock exchange or other similar transaction after a Business Combination that results in all of the Company’s public shareholders having the right to exchange their ordinary shares for cash, securities or other property (the “Lock Up Period”).
Initial Shareholders | Class F ordinary shares | Minimum
Related Party Transaction [Line Items]
Price per share for earlier end of lockup period | $ / shares						$ 12	$ 12
Sponsor
Related Party Transaction [Line Items]
Proceeds from sale of Private Placement Warrants to Sponsor | $		$ 11,000,000
Sponsor | Private Placement
Related Party Transaction [Line Items]
Ordinary shares issued, price per share | $ / shares		$ 0.50
Initial shareholders purchased warrants		22,000,000
Sponsor | Private Placement | Warrant
Related Party Transaction [Line Items]
Sale of units description							Warrant entitles the holder to purchase one third of one Class A ordinary share for one third of $11.50 per one third share
Sponsor | Class A ordinary shares | Private Placement
Related Party Transaction [Line Items]
Warrant holder entitled to purchase common stock per one share		0.33

Investments Held in Trust Acc21

Investments Held in Trust Account - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets Held in Trust Account [Line Items]
Gross proceeds from public offering		$ 450,000,000
Gross proceeds from private placement warrants		11,000,000
Cash	$ 152,908	152,908	$ 1,117,746
Repay notes payable		300,000
Interest income	288,816	400,348
Investments held in Trust Account	450,400,348	450,400,348	$ 450,000,000
Public Offering
Assets Held in Trust Account [Line Items]
Gross proceeds from public offering		450,000,000
Payments of underwriting discounts		9,000,000
Private Placement
Assets Held in Trust Account [Line Items]
Cash	$ 2,000,000	$ 2,000,000

Deferred Underwriting Compens22

Deferred Underwriting Compensation - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Deferred Underwriting Compensation [Line Items]
Deferred discount payable upon completion of business combination	$ 15,750,000	$ 15,750,000
Deferred discount	$ 0
Underwriting commitments	No Deferred Discount is payable to the underwriters if a Business Combination is not completed within 24 months after the Close Date.
Public Offering
Deferred Underwriting Compensation [Line Items]
Deferred discount percentage	3.50%
Deferred discount payable upon completion of business combination	$ 15,750,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - shares	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Class Of Stock [Line Items]
Preferred shares authorized	1,000,000	1,000,000
Preferred shares issued	0	0
Preferred shares outstanding	0	0
Class A ordinary shares
Class Of Stock [Line Items]
Ordinary shares authorized	200,000,000	200,000,000
Ordinary shares issued	45,000,000
Ordinary shares outstanding	45,000,000
Ordinary shares subject to possible redemption	42,936,499	42,990,227
Ordinary shares issued	2,063,501	2,009,773
Ordinary shares outstanding	2,063,501	2,009,773
Class F ordinary shares
Class Of Stock [Line Items]
Ordinary shares authorized	20,000,000	20,000,000
Common Stock, conversion features description	Class F ordinary shares are automatically converted to Class A ordinary shares on a one-for-one basis, subject to adjustment, at the time of a Business Combination.
Ordinary shares issued	11,250,000	11,250,000
Ordinary shares outstanding	11,250,000	11,250,000