Kinetik (KNTK) 8-K Other Events

Exhibit 99.1

KAYNE ANDERSON ACQUISITION CORP.

PRO FORMA BALANCE SHEET

	Actual As of April 4, 2017			Pro Forma Adjustments (Unaudited)			As Adjusted (Unaudited)
ASSETS
Current assets
Cash	$	1,313,912		$	546,422	(a)	$	1,313,912
					(546,422	) (b)
Prepaid expenses		203,250						203,250
Total current assets		1,517,162						1,517,162
Cash held in Trust Account		350,000,000			27,321,120	(c)		377,321,120
Total assets	$	351,517,162		$	27,321,120		$	378,838,282
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities - accrued formation and offering costs	$	132,850					$	132,850
Deferred underwriting compensation		12,250,000			956,239	(d)		13,206,239
Total liabilities		12,382,850			956,239			13,339,089
Class A common stock subject to possible redemption; 33,413,431 and 36,049,919 shares (at redemption value of approximately $10.00 per share), actual and as adjusted		334,134,310			26,364,880	(f)		360,499,190
Stockholders’ equity
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding		—						—
Class A common stock, $0.0001 par value; 200,000,000 shares authorized; 1,586,569 and 1,682,193 issued and outstanding (excluding 33,413,431 and 36,049,919 shares subject to possible redemption), actual and as adjusted		159			273	(c)		169
					(263	) (f)
Class B convertible common stock, $0.0001 par value; 20,000,000 shares authorized; 10,062,500 and 9,433,028 shares issued and outstanding, actual and as adjusted		1,006			(63	) (e)		943
Additionalpaid-in capital		5,001,213			27,320,847	(c)		5,001,267
					546,422	(a)
					(546,422	) (b)
					(956,239	) (d)
					63	(e)
					(26,364,617	) (f)
Accumulated deficit		(2,376	)					(2,376	)
Total stockholders’ equity		5,000,002			1			5,000,003
Total liabilities and stockholders’ equity	$	351,517,162		$	27,321,120		$	378,838,282

KAYNE ANDERSON ACQUISITION CORP.

NOTE TO PRO FORMA BALANCE SHEET

(Unaudited)

NOTE 1 - CLOSING OF PARTIAL EXERCISE OF OVERALLOTMENT OPTION, ADDITIONAL PRIVATE PLACEMENT AND FORFEITED SHARES

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of the Company as of April 4, 2017, adjusted for the closing of the underwriters’ partial exercise of its overallotment option and related transactions which occurred on April 21, 2017 as described below.

On April 21, 2017, the Company consummated the closing of the sale of 2,732,112 additional Units upon receiving notice of the underwriter’s election to partially exercise its overallotment option (“Overallotment Units”), generating an additional gross proceeds of $27,321,120 and incurred additional offering costs of $546,422 in underwriting fees. Simultaneously with the exercise of the overallotment, the Company consummated the Private Placement of an additional 364,281 Private Placement Warrants to the Sponsor, generating gross proceeds of $546,422. Additional underwriting fees of $956,239 were deferred until the completion of the Company’s initial business combination. Pro forma adjustments to reflect the exercise of the underwriters’ overallotment option are as follows:

	Pro Forma Entries	Debit		Credit
(a)	Cash	$	546,422
	Additionalpaid-in capital			$	546,422
	To record sale of 364,281 Private Placement Warrants at $1.50 per warrant
(b)	Additionalpaid-in capital	$	546,422
	Cash			$	546,422
	To record payment of 2% of cash underwriting fee on overallotment option
(c)	Cash held in Trust Account	$	27,321,120
	Class A common stock			$	273
	Additionalpaid-in capital			$	27,320,847
	To record sale of 2,732,112 Overallotment Units at $10.00 per Unit
(d)	Additionalpaid-in capital	$	956,239
	Deferred underwriting fees			$	956,239
	To record the liability for deferred underwriting fees on overallotment option
(e)	Class B common stock	$	63
	Additionalpaid-in capital			$	63
	To record forfeiture of 629,472 Class B convertible shares as a result of partial exercise of the overallotment option
(f)	Class A common stock	$	263
	Additionalpaid-in capital	$	26,364,617
	Common stock subject to possible redemption			$	26,364,880
	To reclassify Class A common stock out of permanent equity into mezzanine redeemable stock