WillScot (WSC) 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 11, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	Double Eagle Acquisition Corp.
Entity Central Index Key	1,647,088
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	EAGL
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		50,000,000
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,500,000

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current asset:
Cash	$ 728,509	$ 1,007,861
Cash and investments held in Trust Account	500,320,412	500,089,682
Total assets	501,048,921	501,097,543
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities - Accounts payable and accrued offering costs:	131,582	133,460
Deferred underwriting compensation	19,500,000	19,500,000
Total liabilities	19,631,582	19,633,460
Class A Common stock subject to possible redemptions; 47,641,733 shares and 47,646,408 shares at March 31, 2016 and December 31, 2015, respectively	476,417,330	476,464,080
Shareholders’ equity:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	5,066,076	5,019,326
Accumulated deficit	(67,552)	(20,808)
Total shareholders’ equity, net	5,000,009	5,000,003
Total liabilities and shareholders’ equity	501,048,921	501,097,543
Common Class A [Member]
Shareholders’ equity:
Common Stock, Value, Issued	235	235
Common Class B [Member]
Shareholders’ equity:
Common Stock, Value, Issued	$ 1,250	$ 1,250

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Class A [Member]
Temporary Equity, Shares Outstanding	47,641,733	47,646,408
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	380,000,000	380,000,000
Common Stock, Shares, Issued	2,358,267	2,353,592
Common Stock, Shares, Outstanding	2,358,267	2,353,592
Redeemable Shares	47,641,733	47,646,408
Common Class B [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	20,000,000	20,000,000
Common Stock, Shares, Issued	12,500,000	12,500,000
Common Stock, Shares, Outstanding	12,500,000	12,500,000

CONDENSED STATEMENT OF OPERATIO

CONDENSED STATEMENT OF OPERATIONS	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Revenue	$ 0
General and administrative expenses	277,474
Loss from operations	(277,474)
Other income - interest on Trust Account	230,730
Net loss attributable to ordinary shares	$ (46,744)
Weighted average ordinary shares outstanding:
Basic and diluted | shares	14,853,644
Net loss per common share:
Basic and diluted | $ / shares	$ 0

CONDENSED STATEMENT OF CHANGES

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - 3 months ended Mar. 31, 2016 - USD ($)	Total	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Common Class A [Member]Common Stock [Member]	Common Class B [Member]Common Stock [Member]
Balance at Dec. 31, 2015	$ 5,000,003	$ 5,019,326	$ (20,808)	$ 235	$ 1,250
Balance (in shares) at Dec. 31, 2015				2,353,592	12,500,000
Adjustment to common stock subject to redemption	46,750	46,750	0	$ 0	$ 0
Adjustment to common stock subject to redemption (in shares)				4,675	0
Net loss attributable to stockholders for the period ended March 31, 2016	(46,744)	0	(46,744)	$ 0
Balance at Mar. 31, 2016	$ 5,000,009	$ 5,066,076	$ (67,552)	$ 235	$ 1,250
Balance (in shares) at Mar. 31, 2016				2,358,267	12,500,000

CONDENSED STATEMENT OF CASH FLO

CONDENSED STATEMENT OF CASH FLOWS	3 Months Ended
	Mar. 31, 2016USD ($)
Cash flows from operating activities:
Net loss	$ (46,744)
Changes in operating assets and liabilities:
Decreases in accounts payable	(1,878)
Net cash used in operating activities	(48,622)
Cash flows from investing activities:
Trust income reinvested in trust	(230,730)
Net cash used in investing activities	(230,730)
Decrease in cash during period	(279,352)
Cash at beginning of period	1,007,861
Cash at end of period	$ 728,509

Organization and Business Opera

Organization and Business Operations	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization and Business Operations Incorporation Double Eagle Acquisition Corp. (the “Company”) was incorporated as a Cayman Islands exempted company on June 26, 2015. The functional currency of the Company is the United States dollar. Sponsor The Company’s sponsor is Double Eagle Acquisition LLC, a Delaware limited liability company (the “Sponsor”). Fiscal Year End The Company has selected December 31 as its fiscal year end. Business Purpose The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more operating businesses that it has not yet selected (“Business Combination”). Financing The registration statement for the Company’s initial public offering (the “Public Offering”) (as described in Note 3) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 10, 2015. The Company consummated the Public Offering on September 16, 2015, and, simultaneously with the closing of the Public Offering, the Sponsor, Harry E. Sloan and the Company’s independent directors (and/or one or more of their state planning vehicles) purchased an aggregate of 19,500,000 0.50 9,750,000 Upon the closing of the Public Offering and the private placement, $ 500,000,000 2,000,000 Trust Account The Trust Account can be 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 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligations. The Company’s amended and restated memorandum and articles of association provide that, other than the withdrawal of interest to pay income taxes, if any, none of the funds held in trust will be released until the earlier of: (i) the completion of the Business Combination; (ii) the redemption of any of the Class A ordinary shares included in the Units sold in the Public Offering properly tendered in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation to redeem 100 Business Combination A Business Combination is subject to the following size, focus and shareholder approval provisions: Size/Control — The Company’s Business Combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on the income earned on the Trust Account) at the time of the agreement to enter into the Business Combination. The Company will not complete a Business Combination unless it acquires a controlling interest in a target company or is otherwise not required to register as an investment company under the Investment Company Act. Focus — The Company’s efforts in identifying prospective target businesses will initially be focused on businesses in the media or entertainment industries, including providers of content, but the Company may pursue acquisition opportunities in other sectors. Tender Offer/Shareholder Approval — 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 Class A ordinary 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 calculated as of two business days prior to the consummation of the initial business combination, including interest but less income taxes payable, or (ii) provide shareholders with the opportunity to sell their Class A ordinary 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 calculated as of two business days prior to commencement of the tender offer, including interest but less income taxes payable. The decision as to whether the Company will seek shareholder approval of the Business Combination or will allow shareholders to sell their Class A ordinary 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. If the Company seeks shareholder approval, it will complete its 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 to be less than $ 5,000,001 If the Company holds a shareholder vote in connection with a Business Combination, a public shareholder will have the right to redeem its Class A ordinary shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial business combination, including interest but less income taxes payable. As a result, such Class A ordinary shares have been recorded at redemption amount and classified as temporary equity, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity.” Liquidation The Company has 24 months from the closing of the Public Offering to complete its initial Business Combination. If the Company does not complete a Business Combination within this period of time, 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 for a per share pro rata portion of the Trust Account, including interest, but less income taxes payable (less up to $ 100,000 Emerging Growth Company Section 102(b)(1) of the Jumpstart Our Business Startups Act of 2012 (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 registration statement under the Securities Act of 1933, as amended (the “Securities Act”), declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) 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 an 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. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accountant standards used.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	2. Significant Accounting Policies The accompanying condensed financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America and pursuant to the 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 the fair presentation of the financial position as of March 31, 2016 and the results of operations and cash flows for the periods presented. Certain information and disclosure normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year. Basic net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. Diluted net loss per share is computed by dividing net loss per share by the weighted average number of ordinary shares outstanding, plus, to the extent dilutive, the incremental number of ordinary shares to settle private placement warrants held by the Sponsor, as calculated using the treasury stock method. For the period presented, the weighted average of these shares was excluded from the calculation of diluted loss per ordinary share because their inclusion would not have been dilutive. As a result, dilutive loss per ordinary share is equal to basic loss per ordinary share. The Company did not utilize the two class method to compute earnings per share as the Class A and Class B shareholders share equally in the losses of the Company. Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which may exceed the Federal depository insurance coverage of $ 250,000 The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet with the exception of investments in Trust, as they are carried at amortized cost. The preparation of the condensed financial statements in conformity with U.S. generally accepted accounting principles requires 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company complies with the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of approximately $ 28,290,000 27,500,000 19,500,000 790,000 30,960 110,000 As discussed in Note 1, all of the 50,000,000 5,000,001 The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of the security to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares shall be affected by charges against additional paid in capital. Accordingly, at March 31, 2016 and December 31, 2015, 47,641,733 47,646,408 The Company complies with the accounting and reporting requirements of FASB ASC 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. There were no unrecognized tax benefits as of March 31, 2016. FASB 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 March 31, 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. The Company could be subject to income tax examinations by major taxing authorities from inception. 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	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Public Offering [Text Block]	3. Public Offering On September 16, 2015, the Company sold 50,000,000 10.00 0.0001 Each Public Warrant entitles the holder to purchase one-half of one Class A ordinary share at a price of $ 5.75 11.50 The Company paid an upfront underwriting discount of $ 8,000,000 0.16 0.55 8,000,000 19,500,000 0.39 The closing of the Public Offering included an initial partial exercise ( 2,000,000

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	4. Related Party Transactions Founder Shares On July 1, 2015, the Sponsor purchased 12,218,750 25,000 002 6,109,375 12,500 25,000 665,500 129 13,800,000 2,000,000 1,300,000 1,271,771 18,524 3,235 20 The Founder Shares are identical to the Public Shares except that the Founder Shares are subject to certain transfer restrictions, as described in more detail below. The initial shareholders have agreed not to transfer, assign or sell any of their Founder Shares until the earlier of (A) one year after the completion of the Company’s initial Business Combination, or earlier if, subsequent to the Company’s initial Business Combination, the closing price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination, and (B) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property (the “Lock Up Period”). Rights — The Founder Shares are identical to the Public Shares except that (i) the Founder Shares are subject to certain transfer restrictions, as described above, and (ii) the initial shareholders have agreed to waive their redemption rights in connection with the Business Combination with respect to the Founder Shares and any Public Shares they may purchase, and to waive their redemption rights with respect to the Founder Shares if the Company fails to complete a Business Combination within 24 months from the closing of the Public Offering. Voting — If the Company seeks shareholder approval of a Business Combination, the initial shareholders have agreed to vote their Founder Shares and any Public Shares purchased during or after the Public Offering in favor of the Business Combination. Liquidation — Although the initial shareholders and their permitted transferees have waived their redemption rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the prescribed time frame, they will be entitled to redemption rights with respect to any Public Shares they may own. Private Placement Warrants The Sponsor, Harry E. Sloan and the Company’s independent directors purchased from the Company 19,500,000 0.50 9.75 Each Private Placement Warrant entitles the holder to purchase one-half of one Class A ordinary share at $5.75 per one-half share ($11.50 per whole share). If the Company does not complete a Business Combination, then the proceeds will be part of the liquidating distribution to the public shareholders and the Private Placement Warrants will expire worthless. Registration Rights The initial shareholders and holders of the Private Placement Warrants will be entitled to registration rights pursuant to a registration rights agreement signed on September 10, 2015. The initial shareholders and holders of the Private Placement Warrants will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities for sale under the Securities Act. In addition, these holders will have “piggy-back” registration rights to include their securities in other registration statements filed by the Company. 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. Administrative Services The Company will reimburse the Sponsor for office space, secretarial and administrative services provided to members of the Company’s management team by the Sponsor, members of the Sponsor, and the Company’s management team or their affiliates in an amount not to exceed $ 15,000 45,000

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments & Contingencies The Company is committed to pay the Deferred Discount totaling $ 19,500,000 3.9% of the gross offering proceeds of the Public Offering, to the underwriters upon the Company’s consummation of a Business Combination.

Trust Account and Fair Value Me

Trust Account and Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	6. Trust Account and Fair Value Measurements As of March 31, 2016 and December 31, 2015, investment securities in the Company Trust Account consisted of $ 500,319,883 500,080,274 529 9,408 Gross unrealized Quoted prices in Holding Gains Active Markets Carrying Value (Losses) (Level 1) U.S. Government Treasury Securities as of March 31, 2016(1) $ 500,319,883 $ (26,283) $ 500,293,600 U.S. Government Treasury Securities as of December 31, 2015(2) $ 500,080,274 $ 20,595 $ 500,100,869 (1) Maturity dates ranging from July 7, 2016 to July 21, 2016 (2) Maturity dated March 31, 2016

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	7. Shareholders’ Equity Ordinary Shares — The authorized ordinary shares of the Company include up to 400,000,000 380,000,000 20,000,000 50,000,000 47,641,733 47,646,408 12,500,000 Preferred Shares — The Company is authorized to issue 1,000,000

Significant Accounting Polici14

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying condensed financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America and pursuant to the 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 the fair presentation of the financial position as of March 31, 2016 and the results of operations and cash flows for the periods presented. Certain information and disclosure normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year.
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Ordinary Share Basic net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. Diluted net loss per share is computed by dividing net loss per share by the weighted average number of ordinary shares outstanding, plus, to the extent dilutive, the incremental number of ordinary shares to settle private placement warrants held by the Sponsor, as calculated using the treasury stock method. For the period presented, the weighted average of these shares was excluded from the calculation of diluted loss per ordinary share because their inclusion would not have been dilutive. As a result, dilutive loss per ordinary share is equal to basic loss per ordinary share. The Company did not utilize the two class method to compute earnings per share as the Class A and Class B shareholders share equally in the losses of the Company.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which may exceed the Federal depository insurance coverage of $ 250,000
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet with the exception of investments in Trust, as they are carried at amortized cost.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the condensed financial statements in conformity with U.S. generally accepted accounting principles requires 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
Offering Costs Policy [Policy Text Block]	Offering Costs The Company complies with the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of approximately $ 28,290,000 27,500,000 19,500,000 790,000 30,960 110,000
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]	Redeemable Ordinary Shares As discussed in Note 1, all of the 50,000,000 5,000,001 The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of the security to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares shall be affected by charges against additional paid in capital. Accordingly, at March 31, 2016 and December 31, 2015, 47,641,733 47,646,408
Income Tax, Policy [Policy Text Block]	Income Taxes The Company complies with the accounting and reporting requirements of FASB ASC 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. There were no unrecognized tax benefits as of March 31, 2016. FASB 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 March 31, 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. The Company could be subject to income tax examinations by major taxing authorities from inception.
New Accounting Pronouncements, Policy [Policy Text Block]	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.

Trust Account and Fair Value 15

Trust Account and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Gross unrealized Quoted prices in Holding Gains Active Markets Carrying Value (Losses) (Level 1) U.S. Government Treasury Securities as of March 31, 2016(1) $ 500,319,883 $ (26,283) $ 500,293,600 U.S. Government Treasury Securities as of December 31, 2015(2) $ 500,080,274 $ 20,595 $ 500,100,869 (1) Maturity dates ranging from July 7, 2016 to July 21, 2016 (2) Maturity dated March 31, 2016

Organization and Business Ope16

Organization and Business Operations (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Sep. 16, 2015	Mar. 31, 2016
Organization And Business Operations [Line Items]
Payments to Acquire Restricted Certificates of Deposit		$ 500,000,000
Net Tangible Assets Benchmark Value		5,000,001
Liquidation Basis of Accounting, Accrued Costs to Dispose of Assets and Liabilities		$ 100,000
Common Class A [Member]
Organization And Business Operations [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Private Placement [Member]
Organization And Business Operations [Line Items]
Warrants Issued During Period	19,500,000
Warrants Issued During Period Price Per Warrant	$ 0.50
Proceeds from Issuance of Warrants	$ 9,750,000
Over-Allotment Option [Member]
Organization And Business Operations [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	2,000,000	2,000,000

Significant Accounting Polici17

Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Offering Costs	$ 28,290,000
Underwriter Discounts	27,500,000
Deferred Offering Costs	19,500,000
Public Offering Fee	790,000
Accrued Liabilities, Current	30,960	$ 110,000
Net Tangible Assets Benchmark Value	$ 5,000,001
Common Class A [Member]
Significant Accounting Policies [Line Items]
Common Stock Outstanding Including Temporary Equity	50,000,000	50,000,000
Temporary Equity, Shares Outstanding	47,641,733	47,646,408
Redeemable Ordinary Shares [Member]
Significant Accounting Policies [Line Items]
Net Tangible Assets Benchmark Value	$ 5,000,001
Credit Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Cash, FDIC Insured Amount	$ 250,000

Public Offering (Details Textua

Public Offering (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Sep. 16, 2015	Mar. 31, 2016	Dec. 31, 2015
Public Offering [Line Items]
Deferred Offering Costs		$ 19,500,000
Over-Allotment Option [Member]
Public Offering [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	2,000,000	2,000,000
Common Class A [Member]
Public Offering [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.0001	$ 0.0001
Share Price Per One Half Share		5.75
Share Price		$ 11.50
Capital Units [Member]
Public Offering [Line Items]
Shares, Issued	50,000,000
Shares Issued, Price Per Share	$ 10
Common Stock, Par or Stated Value Per Share	$ 0.0001
Payments of Stock Issuance Costs		$ 8,000,000
Aggregate Upfront Underwriting Discount Paid Per Unit Sold		$ 0.16
Upfront Underwriting Discount Paid Per Unit Sold		$ 0.55
Upfront Underwriting Discount Paid At Closing		$ 8,000,000
Deferred Offering Costs		$ 19,500,000
Deferred Discount Per Unit Sold		$ 0.39

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($)	Sep. 10, 2015	Jul. 01, 2015	Aug. 27, 2015	Jul. 29, 2015	Mar. 31, 2016
Director [Member]
Related Party Transaction [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	3,235
Over-Allotment Option [Member]
Related Party Transaction [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	2,000,000
Private Placement [Member]
Related Party Transaction [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					19,500,000
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.50
Warrants and Rights Outstanding					$ 9,750,000
Sale of Stock, Description of Transaction					Each Private Placement Warrant entitles the holder to purchase one-half of one Class A ordinary share at $5.75 per one-half share ($11.50 per whole share).
Common Class B [Member]
Related Party Transaction [Line Items]
Shares Issued, Price Per Share	$ 129
Stock Issued During Period, Shares, Other	13,800,000				12,500,000
Founder Shares [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues			25,000
Portion Of Founder Shares Forfeited	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	1,300,000
Sponsor [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party					$ 45,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	1,271,771
Sponsor [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party					$ 15,000
Sponsor [Member] | Founder Shares [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues		12,218,750	665,500
Stock Issued During Period, Value, New Issues		$ 25,000
Harry E Sloan [Member]
Related Party Transaction [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	18,524
Harry E Sloan [Member] | Founder Shares [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues				6,109,375
Stock Issued During Period, Value, New Issues				$ 12,500
Shares Issued, Price Per Share		$ 2

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	3 Months Ended
	Mar. 31, 2016USD ($)
Other Commitments [Line Items]
Other Commitment, Total	$ 19,500,000
Other Commitments, Description	3.9% of the gross offering proceeds of the Public Offering, to the underwriters upon the Companys consummation of a Business Combination.

Trust Account and Fair Value 21

Trust Account and Fair Value Measurements (Details) - US Treasury Securities [Member] - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	[1]	Dec. 31, 2015	[2]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Carrying Value	$ 500,319,883		$ 500,080,274
Held-to-maturity Securities, Gross unrealized Holding Gains	(26,283)		20,595
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities	$ 500,293,600		$ 500,100,869
[1]	Maturity dates ranging from July 7, 2016 to July 21, 2016
[2]	Maturity dated March 31, 2016

Trust Account and Fair Value 22

Trust Account and Fair Value Measurements (Details Textual) - USD ($)	Mar. 31, 2016		Dec. 31, 2015
Cash and Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Sold Security, at Carrying Value	$ 529		$ 9,408
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Sold Security, at Carrying Value	$ 500,319,883	[1]	$ 500,080,274	[2]
[1]	Maturity dates ranging from July 7, 2016 to July 21, 2016
[2]	Maturity dated March 31, 2016

Shareholders' Equity (Details T

Shareholders' Equity (Details Textual) - shares	Sep. 10, 2015	Mar. 31, 2016	Dec. 31, 2015
Preferred Stock, Shares Authorized		1,000,000	1,000,000
Common Stock [Member]
Common Stock, Shares Authorized		400,000,000
Common Class A [Member]
Common Stock, Shares Authorized		380,000,000	380,000,000
Common Stock Outstanding Including Temporary Equity		50,000,000	50,000,000
Temporary Equity, Shares Outstanding		47,641,733	47,646,408
Common Stock, Shares, Outstanding		2,358,267	2,353,592
Common Class B [Member]
Common Stock, Shares Authorized		20,000,000	20,000,000
Common Stock, Shares, Outstanding		12,500,000	12,500,000
Stock Issued During Period, Shares, Other	13,800,000	12,500,000