WillScot (WSC) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 10, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
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	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, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 7,289	$ 188,063
Prepaid expenses	47,642	73,441
Total Current Assets	54,931	261,504
Cash and investments held in Trust Account	501,867,053	501,340,910
Total assets	501,921,984	501,602,414
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities - Accounts payable and accrued expenses	200,513	75,671
Deferred underwriting compensation	19,500,000	19,500,000
Total liabilities	19,700,513	19,575,671
Class A Ordinary shares subject to possible redemption; 47,722,147 shares and 47,702,674 shares at March 31, 2017 and December 31, 2016, respectively	477,221,470	477,026,740
Shareholders' equity:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	4,261,943	4,456,671
Retained earnings	736,580	541,852
Total shareholders’ equity	5,000,001	5,000,003
Total liabilities and shareholders’ equity	501,921,984	501,602,414
Common Class A [Member]
Shareholders' equity:
Common Stock, Value, Issued	228	230
Total shareholders’ equity	228	230
Common Class B [Member]
Shareholders' equity:
Common Stock, Value, Issued	1,250	1,250
Total shareholders’ equity	$ 1,250	$ 1,250

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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	47,722,147	47,702,674
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	2,277,853	2,297,326
Common Stock, Shares, Outstanding	2,277,853	2,297,326
Redeemable Shares	47,722,147	47,702,674
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 STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 0	$ 0
General and administrative expenses	331,416	277,474
Loss from operations	(331,416)	(277,474)
Interest on Trust Account	526,144	230,730
Net income (loss) attributable to ordinary shares	$ 194,728	$ (46,744)
Weighted average ordinary shares outstanding
Basic	14,797,111	14,853,644
Diluted	62,500,000	14,853,644
Net income (loss) per ordinary share
Basic	$ 0.01	$ 0
Diluted	$ 0	$ 0

CONDENSED STATEMENT OF CHANGES

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - 3 months ended Mar. 31, 2017 - USD ($)	Total	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Common Class A [Member]	Common Class B [Member]
Balance at Dec. 31, 2016	$ 5,000,003	$ 4,456,671	$ 541,852	$ 230	$ 1,250
Balance (in shares) at Dec. 31, 2016				2,297,326	12,500,000
Adjustment to ordinary shares subject to redemption	(194,730)	(194,728)	0	$ (2)	$ 0
Adjustment to ordinary shares subject to redemption (in shares)				(19,473)	0
Net income	194,728	0	194,728	$ 0	$ 0
Balance at Mar. 31, 2017	$ 5,000,001	$ 4,261,943	$ 736,580	$ 228	$ 1,250
Balance (in shares) at Mar. 31, 2017				2,277,853	12,500,000

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income (loss) attributable to ordinary shares	$ 194,728	$ (46,744)
Changes in operating assets and liabilities:
Decrease in prepaid expenses	25,799	0
Increase (decrease) in accounts payable and accrued expenses	124,843	(1,878)
Net cash provided by (used in) operating activities	345,370	(48,622)
Cash flows from investing activities:
Trust income reinvested in trust	(526,144)	(230,730)
Net cash used in investing activities	(526,144)	(230,730)
Decrease in cash during period	(180,774)	(279,352)
Cash at beginning of period	188,063	1,007,861
Cash at end of period	$ 7,289	$ 728,509

Organization and Business Opera

Organization and Business Operations	3 Months Ended
	Mar. 31, 2017
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's fiscal year end is December 31. 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 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 Focus Tender Offer/Shareholder Approval 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 and Going Concern The Company has 24 months from the closing of the Public Offering (until September 16, 2017) 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 This mandatory liquidation and subsequent dissolution raises substantial doubt about the Company's ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after September 16, 2017. As of March 31, 2017, the Company had approximately $ 7,300 146,000 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 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 election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting 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 accounting standard at the time private companies adopt the new or revised standard.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
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, 2017 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 income (loss) per ordinary share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the period. Diluted net income/loss per share is computed by dividing net income (loss) per share by the weighted average number of ordinary shares outstanding (including shares subject to redemption), 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. An aggregate of 47,722,147 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 periods. 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 As discussed in Note 1, all of the 50,000,000 the redemption of Class A ordinary shares under the Company’s amended and restated memorandum and articles of association. In accordance with FASB 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 FASB ASC 480. Although the Company has not specified a maximum redemption threshold, its amended and restated memorandum and articles of association provide that 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 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, 2017 and December 31, 2016, 47,722,147 50,000,000 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, 2017. 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, 2017 or December 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. 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. The Company's management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. 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, 2017
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, 2017
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 6,109,375 12,500 25,000 665,500 13,800,000 2,000,000 1,300,000 1,271,771 18,524 3,235 20 10,000 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 Rights Voting Liquidation Private Placement Warrants The Sponsor, Harry E. Sloan and the Company’s independent directors (and/or one or more of their estate planning vehicles) 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 60,000

Commitments & Contingencies

Commitments & Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	5. 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, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	6. Trust Account and Fair Value Measurements As of March 31, 2017 and December 31, 2016, investment securities in the Company’s Trust Account consisted of $ 501,866,085 501,340,048 968 862 Gross Quoted prices in Carrying Unrealized Active Markets Value Holding Loss (Level 1) U.S. Government Treasury Securities as of March 31, 2017(1) $ 501,866,085 $ (69,086) $ 501,796,999 U.S. Government Treasury Securities as of December 31, 2016(2) $ 501,340,048 $ (23,491) $ 501,316,557 (1) Maturity date April 2017. (2) Maturity dates ranging from January to February 2017.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	7. Shareholders’ Equity Ordinary Shares 400,000,000 380,000,000 20,000,000 50,000,000 47,722,147 12,500,000 Preferred Shares 1,000,000

Significant Accounting Polici14

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
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, 2017 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 Income (Loss) Per Ordinary Share Basic net income (loss) per ordinary share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the period. Diluted net income/loss per share is computed by dividing net income (loss) per share by the weighted average number of ordinary shares outstanding (including shares subject to redemption), 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. An aggregate of 47,722,147
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 periods. 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
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 the redemption of Class A ordinary shares under the Company’s amended and restated memorandum and articles of association. In accordance with FASB 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 FASB ASC 480. Although the Company has not specified a maximum redemption threshold, its amended and restated memorandum and articles of association provide that 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 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, 2017 and December 31, 2016, 47,722,147 50,000,000
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, 2017. 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, 2017 or December 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. 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. The Company's management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
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, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Since all of the Company’s permitted investments consist of U.S. government treasury bills and cash, fair values of its investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets as follows: Gross Quoted prices in Carrying Unrealized Active Markets Value Holding Loss (Level 1) U.S. Government Treasury Securities as of March 31, 2017(1) $ 501,866,085 $ (69,086) $ 501,796,999 U.S. Government Treasury Securities as of December 31, 2016(2) $ 501,340,048 $ (23,491) $ 501,316,557 (1) Maturity date April 2017. (2) Maturity dates ranging from January to February 2017.

Organization and Business Ope16

Organization and Business Operations (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Sep. 16, 2015	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Organization And Business Operations [Line Items]
Net Tangible Assets Benchmark Value		$ 5,000,001
Liquidation Basis of Accounting, Accrued Costs to Dispose of Assets and Liabilities		100,000
Cash and Cash Equivalents, at Carrying Value		7,289	$ 188,063	$ 728,509	$ 1,007,861
Working Capital Deficit		$ 146,000
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
Payments to Acquire Restricted Certificates of Deposit		$ 500,000,000
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

Significant Accounting Polici17

Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
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
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	47,722,147	47,702,674
Redeemable Shares	47,722,147	47,702,674
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, 2017	Dec. 31, 2016
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
Common Class A [Member]
Public Offering [Line Items]
Shares Issued, Price Per Share		$ 12
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. 02, 2015	Aug. 27, 2015	Jul. 29, 2015	Mar. 31, 2017	Mar. 31, 2016	Jul. 01, 2015
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	$ 0.129
Stock Issued During Period, Shares, Other	13,800,000
Common Class A [Member]
Related Party Transaction [Line Items]
Shares Issued, Price Per Share					$ 12
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	$ 60,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	1,271,771
Accounts Payable and Accrued Liabilities					10,000
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							$ 0.002

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	3 Months Ended
	Mar. 31, 2017USD ($)
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, 2017	[1]	Dec. 31, 2016	[2]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Carrying Value	$ 501,866,085		$ 501,340,048
Held-to-maturity Securities, Unrecognized Holding Loss	(69,086)		(23,491)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities	$ 501,796,999		$ 501,316,557
[1]	Maturity date April 2017.
[2]	Maturity dates ranging from January to February 2017.

Trust Account and Fair Value 22

Trust Account and Fair Value Measurements (Details Textual) - USD ($)	Mar. 31, 2017		Dec. 31, 2016
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	$ 968		$ 862
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	$ 501,866,085	[1]	$ 501,340,048	[2]
[1]	Maturity date April 2017.
[2]	Maturity dates ranging from January to February 2017.

Shareholders' Equity (Details T

Shareholders' Equity (Details Textual) - shares	Mar. 31, 2017	Dec. 31, 2016
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	47,722,147	47,702,674
Common Stock, Shares, Outstanding	2,277,853	2,297,326
Common Class B [Member]
Common Stock, Shares Authorized	20,000,000	20,000,000
Common Stock, Shares, Outstanding	12,500,000	12,500,000