LiveVox (LVOX) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 09, 2019
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	CRSA
Entity Registrant Name	Crescent Acquisition Corp
Entity Central Index Key	0001723648
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Current Reporting Status	No
Entity File Number	001-38825
Entity Tax Identification Number	823447941
Entity Address, Address Line One	11100 Santa Monica Blvd
Entity Address, Address Line Two	Suite 2000
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90025
City Area Code	(310)
Local Phone Number	235-5900
Class A
Document And Entity Information [Line Items]
Entity Common Stock Shares Outstanding		25,000,000
Class F
Document And Entity Information [Line Items]
Entity Common Stock Shares Outstanding		6,250,000

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash	$ 1,136,048	$ 44,896
Prepaid expenses	174,626
Total current assets	1,310,674	44,896
Non-current assets:
Deferred offering costs		478,104
Cash and investments held in Trust Account	251,832,781
Total assets	253,143,455	523,000
Current liabilities:
Accounts payable and accrued expenses	384,186	242,741
Accrued franchise and income taxes	338,080
Advance from related party	85,997
Note payable - Related party		262,880
Total current liabilities	808,263	505,621
Deferred underwriting fee payable	8,750,000
Total liabilities	9,558,263	505,621
Commitments and Contingencies
Class A common stock subject to possible redemption, 23,858,519 and -0- shares at redemption value as of June 30, 2019 and December 31, 2018, respectively	238,585,190
Stockholders’ Equity
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	3,785,925	24,281
Retained earnings (accumulated deficit)	1,213,338	(7,621)
Total stockholders’ equity	5,000,002	17,379
Total Liabilities and Stockholders’ Equity	253,143,455	523,000
Class A
Stockholders’ Equity
Common stock	114
Class F
Stockholders’ Equity
Common stock	$ 625	$ 719

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, par value	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A
Temporary equity, shares issued	23,858,519	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	1,141,481	0
Common stock, shares outstanding	1,141,481	0
Class F
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	6,250,000	7,187,500
Common stock, shares outstanding	6,250,000	7,187,500

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues		$ 0	$ 0	$ 0	$ 0
Formation Costs					(1,560)
General and administrative expenses		(160,880)		(246,623)
Loss from operations		(160,880)		(246,623)	(1,560)
Interest income on Trust Account		1,530,120		1,832,781
Income (loss) before income taxes		1,369,240		1,586,158	(1,560)
Provision for income taxes		(319,646)		(365,198)
Net income (loss)		$ 1,049,594		$ 1,220,960	$ (1,560)
Class A
Net income (loss) per share information:
Weighted average common stock outstanding (basic and diluted):		25,000,000		25,000,000
Net income per common stock (basic and diluted):		$ 0.05		$ 0.05
Class F
Net income (loss) per share information:
Weighted average common stock outstanding (basic and diluted):	[1]	6,250,000	6,250,000	6,250,000	6,250,000
Net income per common stock (basic and diluted):		$ (0.02)		$ (0.02)	$ 0
[1]	This number excludes 937,500 shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter. In April 2019, the Underwriters’ over-allotment option expired unexercised by the underwriters.

CONDENSED STATEMENTS OF OPERA_2

CONDENSED STATEMENTS OF OPERATIONS (unaudited) (Parenthetical)	Jun. 30, 2019shares
Common Stock | Class F
Number of shares subject to forfeiture	937,500

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - USD ($)		Total	Class A	Class F	Common StockClass A	Common StockClass F		Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)
Balance at Dec. 31, 2017	[1]	$ 24,000				$ 719		$ 24,281	$ (1,000)
Balance in Shares at Dec. 31, 2017	[1]					7,187,500
Net income (loss)		(1,560)				$ 0		0	(1,560)
Ending Balance at Jun. 30, 2018		22,440				$ 719		24,281	(2,560)
Ending Balance in Shares at Jun. 30, 2018	[1]					7,187,500
Balance at Mar. 31, 2018		22,440				$ 719		24,281	(2,560)
Balance in Shares at Mar. 31, 2018	[1]					7,187,500
Net income (loss)						$ 0		0	0
Ending Balance at Jun. 30, 2018		22,440				$ 719		24,281	(2,560)
Ending Balance in Shares at Jun. 30, 2018	[1]					7,187,500
Balance at Dec. 31, 2018		17,379				$ 719		24,281	(7,621)
Balance in Shares at Dec. 31, 2018			0	7,187,500		7,187,500	[1]
Sale of units in initial public offering		250,000,000			$ 2,500			249,997,500
Sale of units in initial public offering, Shares					25,000,000
Underwriters’ fees and offering expenses		(14,653,147)						(14,653,147)
Forfeited Class F Common stock by Sponsor						$ (94)		94
Forfeited Class F Common stock by Sponsor, Shares	[1]					(937,500)
Sale of Private Placement Warrants		7,000,000						7,000,000
Class A common stock subject to possible redemption		(238,585,190)			$ (2,386)			(238,582,804)
Class a common stock subject to possible redemption, shares.					(23,858,519)
Net income (loss)		1,220,960							1,220,960
Ending Balance at Jun. 30, 2019		5,000,002			$ 114	$ 625		3,785,924	1,213,339
Ending Balance in Shares at Jun. 30, 2019			1,141,481	6,250,000	1,141,481	6,250,000	[1]
Balance at Mar. 31, 2019		5,000,008			$ 125	$ 719		4,835,419	163,745
Balance in Shares at Mar. 31, 2019					1,246,441	7,187,500	[1]
Forfeited Class F Common stock by Sponsor						$ (94)		94
Forfeited Class F Common stock by Sponsor, Shares	[1]					(937,500)
Class A common stock subject to possible redemption		(1,049,600)			$ (11)			(1,049,589)
Class a common stock subject to possible redemption, shares.					(104,960)
Net income (loss)		1,049,594							1,049,594
Ending Balance at Jun. 30, 2019		$ 5,000,002			$ 114	$ 625		$ 3,785,924	$ 1,213,339
Ending Balance in Shares at Jun. 30, 2019			1,141,481	6,250,000	1,141,481	6,250,000	[1]
[1]	This number has been retroactively restated to reflect the surrender of 1,437,500 shares in January 2018 (see Note 4).

CONDENSED STATEMENTS OF CHANG_2

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) (Parenthetical)	6 Months Ended
	Jun. 30, 2019shares
Common Stock | Class F
Number of shares surrender	1,437,500

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities
Net income (loss)		$ 1,220,960	$ (1,560)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Interest earned on securities held in Trust Account	$ (1,530,120)	(1,832,781)
Changes in operating assets and liabilities:
Prepaid expenses		(174,626)
Deferred offering costs			(190,325)
Accounts payable and accrued expenses		141,445	(148,259)
Accrued franchise and income taxes		338,080
Net cash used in operating activities		(306,922)	(340,144)
Cash Flows from Investing Activities
Investment of cash in Trust Account		(250,000,000)
Net cash used in investing activities		(250,000,000)
Cash Flows from Financing Activities
Proceeds from sale of units in initial public offering		250,000,000
Proceeds from sale of Private Placement Warrants		7,000,000
Advances from related party		204,320	267,290
Repayment of advances from related party		(118,323)
Proceeds from Note Payable-Related party		37,120	50,000
Repayment of Note Payable-Related party		(300,000)
Payment of offering costs		(5,425,043)
Net cash provided by financing activities		251,398,074	317,290
Net increase (decrease) in cash		1,091,152	(22,854)
Cash—beginning of the period		44,896	67,750
Cash—end of the period	$ 1,136,048	1,136,048	44,896
Supplemental disclosure of noncash activities:
Deferred offering costs included in accrued expenses			$ 322,290
Deferred underwriting fee payable charged to additional paid-in capital in connection with the initial public offering		8,750,000
Deferred offering costs charged to additional paid-in capital upon completion of the initial public offering		478,104
Forfeiture of shares of Class F common stock		94
Class A common stock subject to possible redemption		$ 238,585,190

Description of Organization and

Description of Organization and Business Operations	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Organization and Business Operations	1. Description of Organization and Business Operations Organization and General Crescent Acquisition Corp (formerly known as Crescent Funding Inc.) (the “ Company Initial Business Combination Securities Act JOBS Act At June 30, 2019, the Company had not yet commenced operations. All activity for the period from November 17, 2017 (inception) through June 30, 2019 relates to the Company’s formation and the initial public offering (“ Initial Public Offering st Sponsor and Financing The Company’s sponsor is CFI Sponsor LLC, a Delaware limited liability company (the “ Sponsor SEC Units Public Shares Trust Account Trust Account Funds from the Public Offering have been placed in the Trust Account. The proceeds held in the Trust Account will be invested only in U.S. government treasury obligations with a maturity of one hundred eighty (180) days or less or in money market funds that meet certain conditions under Rule 2a-7 under the Investment Company Act of 1940 and that invest only in direct U.S. government treasury obligations. Funds will remain in the Trust Account until the earlier of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust Account proceeds as described below. The remaining proceeds outside the Trust Account may be used to pay for business, legal and accounting due diligence on prospective acquisitions and continuing general and administrative expenses. The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest earned on the funds held in the Trust Account that may be released to the Company to pay taxes, 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 Public Shares sold in the Initial Public Offering that have been properly submitted in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation to modify the substance or timing of its obligation to redeem 100% of such Public Shares if it does not complete the Initial Business Combination within 24 months from the closing of the Initial Public Offering; or (iii) the redemption of 100% of the Public Shares if the Company is unable to complete an Initial Business Combination within 24 months from the closing of the Initial 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 Initial Public Offering, although substantially all of the net proceeds of the Initial 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 value of the Trust Account (excluding any deferred underwriters fees and taxes payable on the 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 earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, 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 earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes. 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 applicable law or under stock exchange listing requirements. 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. 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 earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes. As a result, such shares of Class A common stock are recorded at redemption amount and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with the Financial Accounting Standards Board (“ FASB ASC 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 Initial Public Offering, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter subject to lawfully available funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and the Company’s officers and directors will enter into a letter agreement with the Company, pursuant to which they will agree to waive their rights to liquidating distributions from the Trust Account with respect to any Founder Shares (as defined below) held by them if the Company fails to complete the Initial Business Combination within 24 months of the closing of the Initial Public Offering. However, if the Sponsor or any of the Company’s directors, officers or affiliates acquires shares of Class A common stock in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete the Initial Business Combination within the prescribed time period. 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	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the 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 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 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 Income (Loss) Per Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “ Earnings Per Share The Company’s condensed statements of operations includes a presentation of income per share for common stock subject to redemption in a manner similar to the two-class method of income per share. Net income per share, basic and diluted for Class A common stock is calculated by dividing the investment income earned on the Trust Account, net of applicable taxes, by the weighted average number of shares of Class A common stock outstanding since the initial issuance. Net loss per share, basic and diluted for Class F common stock is calculated by dividing the net income, less income attributable to Class A common stock, by the weighted average number of shares of Class F common stock outstanding for the period. 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, 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 FASB ASC 820, “ Fair Value Measurements and Disclosures Use of Estimates The preparation of the financial statement 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 statement and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. 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 Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “ Income Taxes 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 June 30, 2019 and December 31, 2018. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2019 and December 31, 2018. 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. Class A Common Stock Subject to Possible Redemption The Company accounts for its Class A common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Shares of Class A common stock subject to mandatory redemption are classified as a liability instrument and is measured at fair value. Conditionally redeemable Class A common stock (including Class A common stock that feature redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, shares of Class A common stock are classified as stockholders’ equity. The Company’s Class A common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. 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 common stock will be affected by charges against additional paid-in capital. Accordingly, at June 30, 2019 and December 31, 2018, 23,858,519 and 0, respectively, of the 25,000,000 Public Shares were classified outside of permanent equity. Recent Accounting Pronouncements In July 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): Part I. Accounting for Certain Financial Instruments with Down Round Features; Part II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 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 unaudited condensed financial statement.

Initial Public Offering

Initial Public Offering	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Initial Public Offering	3. Initial Public Offering Pursuant to the Initial Public Offering, the Company sold 25,000,000 Units at a price of $10.00 per Unit. The Sponsor purchased an aggregate of 7,000,000 warrants at a price of $1.00 per warrant in a private placement that closed simultaneously with the Initial Public Offering. Each Unit consists of one share of the Company’s Class A common stock, $0.0001 par value, and one half of one warrant (each, a “Warrant” and, collectively, the “Warrants”). Each Warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share (subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like and for certain issuances of equity or equity-linked securities). No fractional warrants will be issued upon separation of the Units and only whole Warrants will trade. Each Warrant will become exercisable on the later of 30 days after the completion of the Company’s Initial Business Combination or 12 months from the closing of the Initial Public Offering and will expire five years after the completion of the Company’s Initial Business Combination or earlier upon redemption or liquidation. Once the Warrants become exercisable, the Company may redeem the outstanding Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, if and only if the last sale price of the Company’s Class A common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sent the notice of redemption to the Warrant holders. The Company granted the underwriters a 45-day option to purchase up to 3,750,000 additional Units to cover any over-allotments at the initial public offering price less the underwriting discounts and commissions. The Units that would be issued in connection with the over-allotment option would be identical to the Units issued in the Initial Public Offering. In April 2019, the Underwriters’ over-allotment option expired unexercised by the underwriters. The Company paid an underwriting discount of 2.0% of the gross offering proceeds to the underwriters at the closing of the Initial Public Offering ($5,000,000), with an additional fee (the “ Deferred Underwriting Fee

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	4. Related Party Transactions Founder Shares On November 29, 2017, the Sponsor purchased 8,625,000 shares of Class F common stock (the “ Founder Shares The holders of the Founder Shares have 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 day period commencing at least 150 days after the Initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property. Private Placement Warrants The Sponsor purchased an aggregate of 7,000,000 private placement warrants at a price of $1.00 per warrant for an aggregate purchase price of $7,000,000 in a private placement that occurred simultaneously with the closing of the Initial Public Offering (the “ Private Placement Warrants The Sponsor and the Company’s officers and directors will agree, 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. In April 2019, the Underwriters’ over-allotment option expired and as a result the Sponsor’s agreement to purchase up to an additional 750,000 Private Placement Warrants also expired. Forward Purchase Agreement On February 26, 2019, the Company entered into a forward purchase agreement (the “ Forward Purchase Agreement Crescent Crescent Funds Forward Purchase Units Forward Purchase Shares Forward Purchase Warrants Crescent Fund Purchaser 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 dated March 7, 2019. The holders of these securities will be entitled to certain demand and “piggyback” registration rights. 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 for the securities to be registered. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Related Party Loans and Advances On November 21, 2017, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering pursuant to an unsecured promissory note (the ‘‘ Note Crescent advanced the Company an aggregate of $118,323 to cover expenses related to the Initial Public Offering. The advances were non-interest bearing and due on demand. On March 13, 2019, these advances were repaid in full. An affiliate of the Company paid administrative expenses for an aggregate of $85,997, as reflected in the accompanying condensed balance sheets as of June 30, 2019. These amounts are due on demand and are non-interest bearing. Administrative Support Agreement On March 7, 2019, the Company entered into an agreement to pay $10,000 a month for office space, utilities, administrative and support services to an affiliate of the Sponsor and will terminate the agreement upon the earlier of an Initial Business Combination or the liquidation of the Company. For the three and six months ended June 30, 2019, the Company has incurred expenses of $30,000 and $38,064, respectively, which are included in general and administrative expenses on the condensed statement of operations, of which $38,064 was payable at June 30, 2019 and included in accounts payable and accrued expenses on the accompanying condensed balance sheets.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Stockholders Equity Note [Abstract]
Stockholders' Equity	5. Stockholders’ Equity Common Stock The authorized common stock of the Company includes up to 500,000,000 shares of Class A common stock and 25,000,000 shares of Class F 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 June 30, 2019, there were 1,141,481 of Class A common stock issued or outstanding, excluding 23,858,519 shares of Class A common stock subject to possible redemption. At June 30, 2019 and December 31, 2018, there were 6,250,000 and 7,187,500, respectively, shares of Class F common stock issued and outstanding. Preferred Stock The Company is authorized to issue 5,000,000 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 June 30, 2019 and December 31, 2018, there were no shares of preferred stock issued or outstanding.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements The Company classifies its U. S. Treasury and equivalent securities as held-to-maturity in accordance with ASC 320 “Investments - Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying condensed balance sheets and adjusted for the amortization or accretion of premiums or discounts. At June 30, 2019, assets held in the Trust Account were comprised of $1,055 in cash and $251,831,726 in U.S. Treasury Bills. At December 31, 2018, no assets were held in the Trust Account. The gross holding losses and fair value of held-to-maturity securities at June 30, 2019 are as follows: Held-To-Maturity Amortized Cost Gross Holding Losses Fair Value June 30, 2019 U.S Treasury Securities (Mature 9/12/2019) $ 251,831,726 $ 186,416 $ 252,018,142 The Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1— Level 2— Level 3—

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	7. Subsequent Events Management has performed an evaluation of subsequent events through August 9, 2019, the date of issuance of the condensed financial statements .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the
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 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 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 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 Income (Loss) Per Share	Net Income (Loss) Per Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “ Earnings Per Share The Company’s condensed statements of operations includes a presentation of income per share for common stock subject to redemption in a manner similar to the two-class method of income per share. Net income per share, basic and diluted for Class A common stock is calculated by dividing the investment income earned on the Trust Account, net of applicable taxes, by the weighted average number of shares of Class A common stock outstanding since the initial issuance. Net loss per share, basic and diluted for Class F common stock is calculated by dividing the net income, less income attributable to Class A common stock, by the weighted average number of shares of Class F common stock outstanding for the period.
Concentration of Credit Risk	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, 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 FASB ASC 820, “ Fair Value Measurements and Disclosures
Use of Estimates	Use of Estimates The preparation of the financial statement 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 statement and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
Offering Costs 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
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “ Income Taxes 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 June 30, 2019 and December 31, 2018. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2019 and December 31, 2018. 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.
Class A Common Stock Subject to Possible Redemption	Class A Common Stock Subject to Possible Redemption The Company accounts for its Class A common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Shares of Class A common stock subject to mandatory redemption are classified as a liability instrument and is measured at fair value. Conditionally redeemable Class A common stock (including Class A common stock that feature redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, shares of Class A common stock are classified as stockholders’ equity. The Company’s Class A common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. 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 common stock will be affected by charges against additional paid-in capital. Accordingly, at June 30, 2019 and December 31, 2018, 23,858,519 and 0, respectively, of the 25,000,000 Public Shares were classified outside of permanent equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In July 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): Part I. Accounting for Certain Financial Instruments with Down Round Features; Part II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 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 unaudited condensed financial statement.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Gross Holding Losses and Fair Value of Held-to-Maturity Securities	The gross holding losses and fair value of held-to-maturity securities at June 30, 2019 are as follows: Held-To-Maturity Amortized Cost Gross Holding Losses Fair Value June 30, 2019 U.S Treasury Securities (Mature 9/12/2019) $ 251,831,726 $ 186,416 $ 252,018,142

Description of Organization a_2

Description of Organization and Business Operations - Additional Information (Details) - USD ($)	Mar. 12, 2019	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Date of incorporation		Nov. 17, 2017
Proceeds from sale of units in initial public offering		$ 250,000,000
Proceeds from sale of Private Placement Warrants		7,000,000
Amount held in trust account		$ 251,832,781
Public shares redemption percentage		100.00%
Maximum period to complete initial business combination		24 months
Minimum percentage of fair market value of business acquisition to trust account balance		80.00%
Number of days to deposit amount in trust account		2 days
Minimum net tangible assets		$ 5,000,001
Maximum amount of cash from interest earned in Trust Account to pay dissolution expenses if Company ceases operations		$ 100,000
IPO
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Sale of units in initial public offering	25,000,000
Sale of stock price per unit	$ 10	$ 10
Proceeds from sale of units in initial public offering	$ 250,000,000
Payment of offering costs	14,700,000
Proceeds from sale of Private Placement Warrants	7,000,000
Underwriter discounts	13,750,000
Deferred underwriting discount	8,750,000
Other offering costs	900,000
IPO and Private Placement
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Amount held in trust account	$ 250,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Schedule Of Significant Accounting Policies [Line Items]
Federal depository insurance coverage	$ 250,000
Unrecognized tax benefits	0	$ 0
Unrecognized tax benefits, interest and penalties accrued	$ 0	$ 0
Class A
Schedule Of Significant Accounting Policies [Line Items]
Shares issued, subject to possible redemption, temporary equity	23,858,519	0
Total shares issued to public	25,000,000	25,000,000
Class A | Warrants
Schedule Of Significant Accounting Policies [Line Items]
Securities not considered in calculation of diluted earnings per share	19,500,000
Redeemable Class A Common Stock
Schedule Of Significant Accounting Policies [Line Items]
Shares issued, subject to possible redemption, temporary equity	23,858,519	0

Initial Public Offering - Addit

Initial Public Offering - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Mar. 12, 2019	Dec. 31, 2018
Warrants
Class Of Stock [Line Items]
Warrants price per warrant	$ 11.50
Period after business combination when warrants become exercisable	30 days
Number of shares entitles to purchase per warrant	1
Warrants expiration period	5 years
Redemption price per warrant	$ 0.01
Minimum period of prior written notice of redemption of warrants	30 days
Common stock price (equals or exceeds)	$ 18
Number of trading days within a 30-trading day period	20 days
Trading day period	30 days
Number of business days before notice of redemption	3 days
Class A
Class Of Stock [Line Items]
Common stock, par value	$ 0.0001		$ 0.0001
IPO
Class Of Stock [Line Items]
Sale of units in initial public offering, Shares	25,000,000
Sale of stock price per unit	$ 10	$ 10
Percentage of underwriting discount	2.00%
Payments of initial public offering	$ 5,000,000
Deferred underwriters discount of initial public offering rate	3.50%
Proceeds from issuance initial public offering gross	$ 8,750,000
Over-Allotment Option
Class Of Stock [Line Items]
Sale of units in initial public offering, Shares	3,750,000
Underwriters grant period option	45 days
Underwriters’ over-allotment option expired	2019-04
Sponsor | Private Placement
Class Of Stock [Line Items]
Warrants to purchase an aggregate shares	7,000,000
Warrants price per warrant	$ 1

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	Mar. 13, 2019	Mar. 07, 2019	Feb. 26, 2019	Nov. 29, 2017	Nov. 21, 2017	Apr. 30, 2019	Jan. 31, 2018	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Maximum period to complete initial business combination									24 months
Aggregate amount private placement									$ 7,000,000
Advances from related party									$ 204,320	$ 267,290
Notes payable amended date									Nov. 6, 2018
Repayment of loans from related party	$ 300,000								$ 118,323
Administrative expenses paid by related party								$ 85,997	$ 85,997
Maximum
Related Party Transaction [Line Items]
Advances from related party					$ 300,000
Class F
Related Party Transaction [Line Items]
Common stock, par value								$ 0.0001	$ 0.0001		$ 0.0001
Class F | Common Stock
Related Party Transaction [Line Items]
Number of shares surrender									1,437,500
Shares subject to forfeiture to the extent that over-allotment option is not exercised by the underwriters								937,500	937,500
Class F | Option
Related Party Transaction [Line Items]
Forfeiture of shares						937,500
Class A
Related Party Transaction [Line Items]
Common stock, par value								$ 0.0001	$ 0.0001		$ 0.0001
Class A | Common Stock
Related Party Transaction [Line Items]
Sale of units in initial public offering, Shares									25,000,000
Founder Shares
Related Party Transaction [Line Items]
Holding period of shares for completion of initial business combination				1 year
Number of trading period for transfer of shares				20 days
Number of consecutive trading period for transfer of shares				30 days
Founder Shares | Common Stock
Related Party Transaction [Line Items]
Stock price threshold that allows transfer of shares				$ 12
Founder Shares | Minimum
Related Party Transaction [Line Items]
Period after initial business combination to allow transfer of shares				150 days
Founder Shares | Class F
Related Party Transaction [Line Items]
Sale of units in initial public offering, Shares				8,625,000
Proceeds from issuance of common stock				$ 25,000
Common stock, par value				$ 0.003
Number of shares surrender							1,437,500
Shares outstanding				7,187,500
Shares subject to forfeiture to the extent that over-allotment option is not exercised by the underwriters				937,500
Founder Shares | Class F | Option
Related Party Transaction [Line Items]
Shares outstanding								6,250,000	6,250,000
Forfeiture of shares						937,500
Sponsor
Related Party Transaction [Line Items]
Monthly expense for office space, utilities, administrative and support services to affiliate		$ 10,000
Sponsor | Accounts Payable and Accrued Expenses
Related Party Transaction [Line Items]
General and administrative expenses payable								$ 38,064	$ 38,064
Sponsor | General and Administrative Expense
Related Party Transaction [Line Items]
General and administrative expenses incurred								$ 30,000	$ 38,064
Sponsor | Private Placement
Related Party Transaction [Line Items]
Warrants to purchase an aggregate shares								7,000,000	7,000,000
Warrants price per warrant								$ 1	$ 1
Proceeds of private placement warrants									$ 5,000,000
Maximum period to complete initial business combination									24 months
Option to purchase additional warrants expired						750,000
Sponsor | IPO and Private Placement
Related Party Transaction [Line Items]
Amount held in trust account									$ 250,000,000
Sponsor | Class A | Private Placement
Related Party Transaction [Line Items]
Warrants price per warrant								$ 11.50	$ 11.50
Crescent
Related Party Transaction [Line Items]
Advances from related party			$ 118,323
Crescent | Forward Purchase Agreement
Related Party Transaction [Line Items]
Number of forward purchase units			5,000,000
Forward purchase units description									One share of the Company’s Class A common stock (such shares of Class A common stock to be issued pursuant to the Forward Purchase Agreement, the “Forward Purchase Shares”) and one-third of one warrant to purchase one share of the Company’s Class A common stock (such warrants to be issued pursuant to the Forward Purchase Agreement
Crescent | Forward Purchase Warrants | Forward Purchase Agreement
Related Party Transaction [Line Items]
Warrants price per warrant			$ 10
Aggregate amount private placement			$ 50,000,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares		6 Months Ended
		Jun. 30, 2019	Apr. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Common stock, voting rights per share		one
Preferred stock, par value		5,000,000			5,000,000
Preferred stock, shares issued		0			0
Preferred stock, shares outstanding		0			0
Class A
Class Of Stock [Line Items]
Common stock, shares authorized		500,000,000			500,000,000
Common stock, shares issued		1,141,481			0
Common stock, shares outstanding		1,141,481			0
Temporary equity, shares issued		23,858,519			0
Class F
Class Of Stock [Line Items]
Common stock, shares authorized		25,000,000			25,000,000
Common stock, shares issued		6,250,000			7,187,500
Common stock, shares outstanding		6,250,000			7,187,500
Class F | Option
Class Of Stock [Line Items]
Forfeiture of shares			937,500
Common Stock | Class A
Class Of Stock [Line Items]
Common stock, shares outstanding		1,141,481		1,246,441
Temporary equity, shares issued		23,858,519
Common Stock | Class F
Class Of Stock [Line Items]
Common stock, shares outstanding	[1]	6,250,000		7,187,500	7,187,500	7,187,500	7,187,500	7,187,500
Preferred Stock
Class Of Stock [Line Items]
Preferred stock, par value		5,000,000			5,000,000
Preferred stock, shares issued		0			0
Preferred stock, shares outstanding		0			0
[1]	This number has been retroactively restated to reflect the surrender of 1,437,500 shares in January 2018 (see Note 4).

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	Jun. 30, 2019USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and investments held in Trust Account	$ 251,832,781
Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and investments held in Trust Account	1,055
U.S. Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and investments held in Trust Account	$ 251,831,726

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Gross Holding Losses and Fair Value of Held-to-Maturity Securities (Details) - U.S. Treasury Bills	Jun. 30, 2019USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	$ 251,831,726
Gross Holding Losses	186,416
Fair Value	$ 252,018,142

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Gross Holding Losses and Fair Value of Held-to-Maturity Securities (Parenthetical) (Details)	6 Months Ended
	Jun. 30, 2019
U.S. Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity security maturity date	Sep. 12, 2019