Kinetik (KNTK) 10-Q 15 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 15, 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
Trading Symbol	KAAC
Entity Registrant Name	Kayne Anderson Acquisition Corp
Entity Central Index Key	1,692,787
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,732,112
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,433,028

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Current asset - cash	$ 249	$ 7,500
Deferred offering costs	602,312	38,234
Total Assets	602,561	45,734
Current liabilities
Accrued formation and offering costs	314,937	3,110
Sponsor note	265,000	20,000
Total current liabilities	579,937	23,110
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	23,994	23,994
Accumulated deficit	(2,376)	(2,376)
Total stockholders' equity	22,624	22,624
Total liabilities and stockholders' equity	602,561	45,734
Class A Common Stock [Member]
Stockholders' equity:
Common stock	0	0
Class B Common Stock [Member]
Stockholders' equity:
Common stock	1,006	1,006
Total stockholders' equity	$ 1,006	$ 1,006

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Preferred stock, par value	$ 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
Class A Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Class B Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	10,062,500	10,062,500
Common stock, shares outstanding	10,062,500	10,062,500

Condensed Statement of Operatio

Condensed Statement of Operations	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Income Statement [Abstract]
Revenues	$ 0
General and administrative expenses	0
Net income (loss) attributable to common shares	$ 0
Weighted average number of shares outstanding:
Basic and diluted | shares	9,433,028
Net loss per common share:
Basic and diluted | $ / shares	$ 0

Condensed Statement of Stockhol

Condensed Statement of Stockholders' Equity - 3 months ended Mar. 31, 2017 - USD ($)	Total	Class B Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2016	$ 22,624	$ 1,006	$ 23,994	$ (2,376)
Beginning Balance, Shares at Dec. 31, 2016		10,062,500
Net income (loss)	0	$ 0	0	0
Ending Balance at Mar. 31, 2017	$ 22,624	$ 1,006	$ 23,994	$ (2,376)
Ending Balance, Shares at Mar. 31, 2017		10,062,500

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows	3 Months Ended
	Mar. 31, 2017USD ($)
Statement of Cash Flows [Abstract]
Net income (loss)	$ 0
Adjustments to reconcile net loss to net cash used in operations:
Net cash used in operating activities	0
Cash flows from financing activities:
Proceeds from Sponsor note	245,000
Payment of offering costs	(252,251)
Net cash used in financing activities	(7,251)
Decrease in cash	(7,251)
Cash at beginning of period	7,500
Cash at end of period	249
Supplemental disclosure of financing activities:
Offering costs included in accrued formation and offering costs	$ 311,827

Description of Organization and

Description of Organization and Business Operations	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Description of Organization and Business Operations	Note 1—Description of Organization and Business Operations Organization and General Kayne Anderson Acquisition Corp. (the “Company”) was incorporated in Delaware on December 12, 2016. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). We intend to focus our search for a target business in the energy industry. The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). At March 31, 2017, the Company had not commenced any operations. All activity for the three months ended March 31, 2017 relates to the Company’s formation and the initial public offering (“Public Offering”) described below. On April 4, 2017, the Company closed its Public Offering (See Note 3 and Note 6). The Company will not generate any operating revenues until after completion of its Initial Business Combination, at the earliest. The Company will generate non-operating Sponsor The Company’s sponsor is Kayne Anderson Sponsor, LLC, a Delaware limited liability company (the “Sponsor”). The registration statement for the Company’s Public Offering (as described in Note 3) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on March 29, 2017. The Trust Account The proceeds held in the trust account with American Stock Transfer & Trust Company, LLC acting as trustee (the “Trust Account”) will be invested only in U.S. government treasury bills with a maturity of one hundred eighty (180) days or less or in money market funds that meet certain conditions under Rule 2a-7 The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of the Initial Business Combination; (ii) the redemption of any shares of Class A Common Stock included in the units (the “Public Shares”) sold in the Public Offering that have been properly tendered in connection with a stockholder vote to amend the Company’s certificate of incorporation to modify the substance or timing of its obligation to redeem 100% of such shares of Class A Common Stock if it does not complete the Initial Business Combination within 24 months from the closing of the Public Offering; and (iii) the redemption of 100% of the shares of Class A Common Stock included in the Units sold in the Public Offering if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Public Offering (subject to the requirements of law). The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public stockholders. Initial Business Combination The Company’s management 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 an Initial Business Combination. The Initial 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 income earned on the Trust Account) at the time of the agreement to enter into the Initial Business Combination. Furthermore, there is no assurance that the Company will be able to successfully effect an Initial Business Combination. The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek stockholder approval of the Initial Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Initial 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 Initial Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to sell their Public Shares to the Company by means of a tender offer (and thereby avoid the need for a stockholder 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 the consummation of the Initial Business Combination, including interest but less taxes payable. The decision as to whether the Company will seek stockholder approval of the Initial Business Combination or will allow stockholders to sell their Public 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 stockholder approval, unless a vote is required by law or under rules of The Nasdaq Stock Market. If the Company seeks stockholder approval, it will complete its Initial Business Combination only if a majority of the outstanding shares of common stock voted are voted in favor of the Initial 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 upon consummation of the Initial Business Combination. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination. If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder 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 Initial Business Combination, including interest but less taxes payable. As a result, such shares of Class A Common Stock will be recorded at redemption amount and classified as temporary equity upon the completion of the Public Offering, in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity.” Pursuant to the Company’s amended and restated certificate of incorporation, if the Company is unable to complete the Initial Business Combination within 24 months from the closing of the Public Offering, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem the Public Shares, at a per-share In the event of a liquidation, dissolution or winding up of the Company after an Initial Business Combination, the Company’s stockholders are entitled to share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of stock, if any, having preference over the common stock. The Company’s stockholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to the common stock, except that the Company will provide its stockholders with the opportunity to redeem their Public Shares for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account, upon the completion of the Initial Business Combination, subject to the limitations described herein.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim 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 (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“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 financial position as of March 31, 2017 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 GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year. The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on March 30, 2017 and with the audited balance sheet included in the Form 8-K 8-K 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 and Exchange Act of 1934, as amended, or 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 This may make comparison of the Company’s financial statement 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 accounting standards used. Net Loss Per Common Share Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period, plus, to the extent dilutive, the incremental number of shares of common stock to settle warrants, as calculated using the treasury stock method. The weighted average shares outstanding for the three months ended March 31, 2017 excludes 629,472 shares which were subsequently forfeited by the Sponsor (see Note 4). At March 31, 2017, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company under the treasury stock method. As a result, diluted loss per common share is the same as basic loss per common share for the period. 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 value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet. Use of Estimates The preparation of financial statements in conformity with 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. Deferred Offering Costs The Company complies with the requirements of the FASB ASC 340-10-S99-1 Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements 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 that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. 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. There were no unrecognized tax benefits as of March 31, 2017. 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. 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 is subject to income tax examinations by major taxing authorities since inception. Recent Accounting Pronouncements In August 2014, FASB issued ASU 2014-15, 205-40): ASU 2014-15 2014-15 2014-15 The Company’s management does not believe that any other 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
Text Block [Abstract]
Public Offering	Note 3—Public Offering Subsequent to March 31, 2017, the Company closed its Public Offering of 37,732,112 units at a price of $10.00 per unit (the “Units”), with gross proceeds of $377,321,120 from the sale of Units. The closings occurred on April 4, 2017 with respect to 35,000,000 Units and on April 21, 2017 with respect to 2,732,112 Units related to the partial exercise of the underwriters’ over-allotment option. Each Unit consists of one share of the Company’s Class A Common Stock , and one-third 30-trading The Company paid an underwriting discount of 2.0% of the per Unit offering price (or $7,546,422) to the underwriters at the closing of the Public Offering, with an additional fee (the “Deferred Discount”) of 3.5% of the gross offering proceeds (or $13,206,239) payable upon the Company’s completion of an Initial 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 its Initial Business Combination. The Company granted the underwriters a 45-day

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 4—Related Party Transactions Founder Shares During December 2016, the Sponsor purchased 10,062,500 shares of Class B Common Stock (the “Founder Shares”) for an aggregate price of $25,000, or approximately $0.002 per share. In March 2017, the Sponsor transferred 40,000 Founder Shares to each of the Company’s two independent director nominees at their original purchase price. As used herein, unless the context otherwise requires, Founder Shares shall be deemed to include the shares of Class A Common Stock issuable upon conversion thereof. The Founder Shares are identical to the Class A common stock included in the Units sold in the Public Offering except that the Founder Shares automatically convert into shares of Class A Common Stock at the time of the Company’s Initial Business Combination and are subject to certain transfer restrictions, as described in more detail below. Holders of Founder Shares may also elect to convert their shares of Class B Common Stock into an equal number of shares of Class A Common Stock, subject to adjustment as provided above, at any time. Prior to the Public Offering, the Sponsor agreed to forfeit up to 1,312,500 Founder Shares to the extent that the over-allotment option was not exercised in full by the underwriters. The forfeiture was to be adjusted to the extent that the over-allotment option was not exercised in full by the underwriters so that the Founder Shares would represent 20.0% of the Company’s issued and outstanding shares after the Public Offering. On April 21, 2017, as a result of the partial exercise of the over-allotment option, the Sponsor forfeited 629,472 of its Founder Shares. The Company’s initial stockholders agreed subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (A) one year after the completion of the Initial Business Combination or (B) subsequent to the Initial Business Combination, (x) if the last sale price of the Company’s Class A Common Stock 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 Private Placement Warrants Upon the closing of the Public Offering on April 4,2017 and April 21, 2017, the Sponsor purchased an aggregate of 6,364,281 warrants at a price of $1.50 per warrant in a private placement (the “Private Placement Warrants”) (includes 364,281 warrants related to the Over-Allotment Units exercised) at a price of $1.50 per whole warrant ($9,546,422 in the aggregate) in a private placement. Each whole Private Placement Warrant is exercisable for one whole share of the Company’s Class A Common Stock at a price of $11.50 per share. A portion of the purchase price of the Private Placement Warrants was added to the proceeds from the Public Offering to be held in the Trust Account. If the Initial Business Combination is not completed within 24 months from the closing of the Public Offering, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. The Private Placement Warrants will be non-redeemable The Sponsor and the Company’s officers and directors agreed, subject to limited exceptions, not to transfer, assign or sell any of their Private Placement Warrants until 30 days after the completion of the Initial Business Combination. Registration Rights The holders of Founder Shares, Private Placement Warrants and Warrants that may be issued upon conversion of working capital loans, if any, will be entitled to registration rights (in the case of the Founder Shares, only after conversion of such shares to shares of Class A Common Stock) pursuant to a registration rights agreement. These holders will be entitled to certain demand and “piggyback” registration rights. The holders of Founder Shares, Private Placement Warrants and Warrants that may be issued upon conversion of working capital loans will not be able to sell these securities until the termination of the applicable lock-up Related Party Loans On December 23, 2016, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Public Offering pursuant to a promissory note (the “Note”). At March 31, 2017, the Company had borrowed $265,000 under the Note. These non-interest Administrative Support Agreement The Company has agreed to pay an affiliate of the Sponsor a total of $5,000 per month for office space, utilities and secretarial and administrative support. Upon completion of the Initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' Equity	Note 5—Stockholders’ Equity Common Stock The authorized common stock of the Company includes up to 200,000,000 shares of Class A Common Stock and 20,000,000 shares of Class B Common Stock. If the Company enters into an Initial Business Combination, it may (depending on the terms of such an Initial Business Combination) be required to increase the number of shares of Class A Common Stock which the Company is authorized to issue at the same time as the Company’s stockholders vote on the Initial Business Combination, to the extent the Company seeks stockholder approval in connection with the Initial Business Combination. Holders of the Company’s common stock are entitled to one vote for each share of common stock. At March 31, 2017 and December 31, 2016, there were 10,062,500 shares of Class B Common Stock issued and outstanding (See Note 6). Preferred Stock The Company is authorized to issue 1,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At March 31, 2017 and December 31, 2016, there were no shares of preferred stock issued or outstanding.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 6—Subsequent Events On April 4, 2017, the Company consummated its Public Offering of 35,000,000 Units, each Unit consisting of one share of Class A Common Stock and one-third On April 21, 2017, the Company consummated the closing of the sale of 2,732,112 additional Units upon receiving notice of the underwriters’ election to partially exercise their over-allotment option, generating an additional gross proceeds of $27,321,120. Simultaneously with the exercise of the over-allotment option, the Company consummated the private placement of an additional 364,281 Private Placement Warrants to the Sponsor, generating gross proceeds of $546,422. In addition, the 10,062,500 Founder Shares held by the Company’s initial stockholders (prior to the exercise of the over-allotment) included an aggregate of up to 1,312,500 Founder Shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full, so that the initial stockholders would collectively own 20.0% of issued and outstanding shares of the Company. Since the underwriters exercised the over-allotment option in part and purchased 2,732,112 of the total possible 5,250,000 Over-Allotment Units, the Sponsor forfeited 629,472 Founder Shares on April 21, 2017 in order to maintain ownership of 20.0% of issued and outstanding shares of the Company. The Founder Shares forfeited by the Sponsor were cancelled by the Company. On April 26, 2017, the Company announced that, commencing on April 27, 2017, the holders of Units issued in its Public Offering may elect to separately trade shares of Class A Common Stock and Warrants included in the Units. The Units not separated will continue to trade on The Nasdaq Capital Market under the symbol “KAACU.” Shares of Class A Common Stock and the Warrants are trading on The Nasdaq Capital Market under the symbols “KAAC” and “KAACW,” respectively. No fractional warrants will be issued upon separation of the Units and only whole Warrants will trade.

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim 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 (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“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 financial position as of March 31, 2017 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 GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year. The accompanying unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on March 30, 2017 and with the audited balance sheet included in the Form 8-K 8-K
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 and Exchange Act of 1934, as amended, or 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 This may make comparison of the Company’s financial statement 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 accounting standards used.
Net Loss Per Common Share	Net Loss Per Common Share Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period, plus, to the extent dilutive, the incremental number of shares of common stock to settle warrants, as calculated using the treasury stock method. The weighted average shares outstanding for the three months ended March 31, 2017 excludes 629,472 shares which were subsequently forfeited by the Sponsor (see Note 4). At March 31, 2017, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company under the treasury stock method. As a result, diluted loss per common share is the same as basic loss per common share for the period.
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 value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with 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.
Deferred Offering Costs	Deferred Offering Costs The Company complies with the requirements of the FASB ASC 340-10-S99-1
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements 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 that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. 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. There were no unrecognized tax benefits as of March 31, 2017. 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. 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 is subject to income tax examinations by major taxing authorities since inception.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2014, FASB issued ASU 2014-15, 205-40): ASU 2014-15 2014-15 2014-15 The Company’s management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Description of Organization a14

Description of Organization and Business Operations - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Redemption limitation, minimum net tangible assets	$ 5,000,001
American Stock Transfer and Trust Company, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Initial Business Combination, fair value minimum percent of assets held in trust	80.00%
Sinking fund provisions	$ 0
Maximum [Member] | American Stock Transfer and Trust Company, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Interest to pay dissolution expenses	$ 100,000
Maximum [Member] | US Treasury Bill Securities [Member] | American Stock Transfer and Trust Company, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Investments maturity period	180 days
Class A Common Stock [Member] | American Stock Transfer and Trust Company, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Uncompleted business combination obligation to redeem (percent)	100.00%
Period to complete Initial Business Combination	24 months

Summary of Significant Accoun15

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Apr. 21, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounting Policy [Line Items]
Dilutive securities		0
Deferred offering costs		$ 602,312	$ 38,234
Unrecognized tax benefits		0
Accrued payment of interest and penalties		0
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member]
Accounting Policy [Line Items]
Founder shares forfeited by sponsor	629,472
Maximum [Member]
Accounting Policy [Line Items]
Federal Depository Insurance Coverage amount		$ 250,000

Public Offering - Additional In

Public Offering - Additional Information (Detail) - USD ($)	Apr. 21, 2017	Apr. 04, 2017	Apr. 21, 2017	Mar. 31, 2017	Dec. 31, 2016
Subsidiary, Sale of Stock [Line Items]
Deferred offering costs				$ 602,312	$ 38,234
IPO [Member] | Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Number of units issued in public offering		35,000,000	37,732,112
Price per unit issued	$ 10	$ 10	$ 10
Gross proceeds from sale of units		$ 350,000,000	$ 377,321,120
Number of warrants included in each unit	0.3333	0.3333	0.3333
Warrant expiration period from initial business combination			30 days
Warrant expiration period from public offering			12 months
Warrant expiration period			5 years
Warrant redemption price			$ 0.01
Notice period for warrant redemption			30 days
Warrant conversion stock price trigger			$ 18
Warrant conversion threshold trading days			20 days
Warrant conversion threshold consecutive trading days			30 days
Percentage of underwriting discount			2.00%
Underwriting discount			$ 7,546,422
Percentage of deferred discount	3.50%		3.50%
Deferred offering costs	$ 13,206,239		$ 13,206,239
IPO [Member] | Subsequent Event [Member] | Class A Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common shares included in each unit	1	1	1
Number of shares of common stock converted from each warrant (in shares)	1	1	1
Warrant exercise price	$ 11.50		$ 11.50
Over-Allotment Units [Member] | Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Number of units issued in public offering	2,732,112		2,732,112
Gross proceeds from sale of units	$ 27,321,120
Option exercise period			45 days
Over-Allotment Units [Member] | Subsequent Event [Member] | Maximum [Member]
Subsidiary, Sale of Stock [Line Items]
Underwriters' option to purchase units	5,250,000		5,250,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Apr. 21, 2017USD ($)$ / sharesshares	Apr. 04, 2017USD ($)shares	Apr. 21, 2017USD ($)$ / sharesshares	Mar. 31, 2017USD ($)Nomineeshares	Dec. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2017USD ($)$ / shares	Dec. 23, 2016USD ($)
Related Party Transaction [Line Items]
Sponsor note | $				$ 265,000	$ 20,000	$ 265,000
Kayne Anderson Sponsor, LLC [Member] | Class A Common Stock [Member]
Related Party Transaction [Line Items]
Founder shares, earliest period to transfer, assign or sell						1 year
Founder shares, stock price trigger | $ / shares						$ 12
Founder shares, threshold trading days						20 days
Founder shares, threshold consecutive trading days						30 days
Founder shares, commencement period						150 days
Kayne Anderson Sponsor, LLC [Member] | Class B Common Stock [Member]
Related Party Transaction [Line Items]
Number of founder shares purchased by Sponsor					10,062,500
Proceeds from issuance of founder shares | $					$ 25,000
Shares issued, price per share | $ / shares					$ 0.002
Number of founder shares transferred to independent director nominees by Sponsor				40,000
Number of independent director nominees | Nominee				2
Maximum number of founder shares agreed to forfeit by Sponsor				1,312,500
Kayne Anderson Sponsor, LLC [Member] | Related Party Loans [Member]
Related Party Transaction [Line Items]
Loan from related party | $							$ 300,000
Sponsor note | $				$ 265,000		$ 265,000
Affiliate of Kayne Anderson Sponsor, LLC [Member] | Administrative Support Agreement [Member]
Related Party Transaction [Line Items]
Related party transaction expense per month | $						$ 5,000
Subsequent Event [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Minimum required threshold period to change in ownership of warrants on completion of initial business combination			30 days
Subsequent Event [Member] | Over-Allotment Units [Member]
Related Party Transaction [Line Items]
Number of founder shares purchased by Sponsor	2,732,112		2,732,112
Number of warrants purchased			364,281
Price per warrant | $ / shares			$ 1.50
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member]
Related Party Transaction [Line Items]
Ownership percentage of founder shares in company's issued and outstanding shares	20.00%		20.00%
Founder shares forfeited by sponsor	629,472
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Number of warrants purchased	364,281	6,000,000	6,364,281
Price per warrant | $ / shares			$ 1.50
Proceeds from issuance of warrants | $	$ 546,422	$ 9,000,000	$ 9,546,422
Period to complete Initial Business Combination			24 months
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Class A Common Stock [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Number of shares of common stock converted from each warrant (in shares)	1		1
Warrant exercise price | $ / shares	$ 11.50		$ 11.50
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Class B Common Stock [Member]
Related Party Transaction [Line Items]
Ownership percentage of founder shares in company's issued and outstanding shares	20.00%		20.00%
Founder shares forfeited by sponsor	629,472
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Related Party Loans [Member]
Related Party Transaction [Line Items]
Repayment of loan | $		$ 265,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock, voting rights	Holders of the Company's common stock are entitled to one vote for each share of common stock.
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Class B Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	10,062,500	10,062,500
Common stock, shares outstanding	10,062,500	10,062,500

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Apr. 21, 2017	Apr. 04, 2017	Apr. 21, 2017	Mar. 31, 2017	Dec. 31, 2016
Class A Common Stock [Member]
Subsequent Event [Line Items]
Common stock, shares outstanding				0	0
Subsequent Event [Member] | IPO [Member]
Subsequent Event [Line Items]
Number of units issued in public offering		35,000,000	37,732,112
Number of warrants included in each unit	0.3333	0.3333	0.3333
Units offering price	$ 10	$ 10	$ 10
Gross proceeds from sale of units		$ 350,000,000	$ 377,321,120
Subsequent Event [Member] | IPO [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Number of common shares included in each unit	1	1	1
Number of shares of common stock converted from each warrant (in shares)	1	1	1
Subsequent Event [Member] | Over-Allotment Units [Member]
Subsequent Event [Line Items]
Number of units issued in public offering	2,732,112		2,732,112
Gross proceeds from sale of units	$ 27,321,120
Number of warrants purchased			364,281
Units purchased by underwriters	2,732,112
Subsequent Event [Member] | Over-Allotment Units [Member] | Maximum [Member]
Subsequent Event [Line Items]
Underwriters' option to purchase units	5,250,000		5,250,000
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member]
Subsequent Event [Line Items]
Common stock, shares outstanding	10,062,500		10,062,500
Ownership percentage of founder shares in company's issued and outstanding shares	20.00%		20.00%
Founder shares forfeited by sponsor	629,472
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Common Stock Subject to Forfeiture [Member]
Subsequent Event [Line Items]
Common stock, shares outstanding	1,312,500		1,312,500
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Number of warrants purchased	364,281	6,000,000	6,364,281
Proceeds from issuance of warrants	$ 546,422	$ 9,000,000	$ 9,546,422
Subsequent Event [Member] | Kayne Anderson Sponsor, LLC [Member] | Private Placement [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Number of shares of common stock converted from each warrant (in shares)	1		1