LiveVox (LVOX) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 13, 2020
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-38825
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3447941
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
Document Quarterly Report	true
Document Transition Report	false
Class A
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		25,000,000
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading symbol	CRSA
Security Exchange Name	NASDAQ
Class F
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,250,000
Class A Common Stock and One-half of One Redeemable Warrant
Document And Entity Information [Line Items]
Title of 12(b) Security	Units, each consisting of one share of Class A common stock and one-half of one redeemable Warrant
Trading symbol	CRSAU
Security Exchange Name	NASDAQ
Redeemable Warrants
Document And Entity Information [Line Items]
Title of 12(b) Security	Redeemable Warrants, each whole Warrant exercisable for one share of Class A common stock at an exercise price of $11.50
Trading symbol	CRSAW
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 434,086	$ 1,126,200
Prepaid expenses	66,863	108,675
Total current assets	500,949	1,234,875
Cash and investments held in Trust Account	253,707,651	253,569,459
Total assets	254,208,600	254,804,334
Current liabilities:
Accounts payable and accrued expenses	280,225	326,401
Accrued franchise and income taxes	87,200	491,781
Advance from related party	38,065	121,694
Total current liabilities	405,490	939,876
Deferred underwriting fee payable	8,750,000	8,750,000
Total liabilities	9,155,490	9,689,876
Commitments and Contingencies
Class A common stock subject to possible redemption, 24,005,310 and 24,011,445 shares at redemption value of approximately $10.00 per share as of September 30, 2020 and December 31, 2019, respectively	240,053,100	240,114,450
Stockholders’ Equity
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	2,318,029	2,256,679
Retained earnings	2,681,257	2,742,605
Total stockholders’ equity	5,000,010	5,000,008
Total liabilities and stockholders’ equity	254,208,600	254,804,334
Class A
Stockholders’ Equity
Common stock	99	99
Class F
Stockholders’ Equity
Common stock	$ 625	$ 625

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A
Temporary equity, shares issued	24,005,310	24,011,445
Temporary equity, per share	$ 10	$ 10
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	994,690	988,555
Common stock, shares outstanding	994,690	988,555
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	6,250,000
Common stock, shares outstanding	6,250,000	6,250,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues	$ 0	$ 0	$ 0	$ 0
General and administrative expenses	(435,630)	(124,879)	(754,098)	(371,503)
Loss from operations	(435,630)	(124,879)	(754,098)	(371,503)
Interest income on Trust Account	6,395	1,478,279	903,675	3,311,061
(Loss) income before income taxes	(429,235)	1,353,400	149,577	2,939,558
Benefit (provision) for income taxes	12,202	(299,928)	(210,925)	(665,126)
Net (loss) income	$ (417,033)	$ 1,053,472	$ (61,348)	$ 2,274,432
Class A
Net income (loss) per share information:
Weighted average common stock outstanding (basic and diluted)	25,000,000	25,000,000	25,000,000	25,000,000
Net income per common stock (basic and diluted)	$ 0	$ 0.05	$ 0.02	$ 0.10
Class F
Net income (loss) per share information:
Weighted average common stock outstanding (basic and diluted)	6,250,000	6,250,000	6,250,000	6,250,000
Net income per common stock (basic and diluted)	$ (0.07)	$ (0.01)	$ (0.10)	$ (0.04)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED 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, 2018	$ 17,379				$ 719	$ 24,281	$ (7,621)
Balance in Shares at Dec. 31, 2018					7,187,500
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)
Sale of Private Placement Warrants	7,000,000					7,000,000
Class A common stock subject to possible redemption	(237,535,590)			$ (2,375)		(237,533,215)
Class A common stock subject to possible redemption, Shares				(23,753,559)
Net income (loss)	171,366						171,366
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
Balance at Dec. 31, 2018	17,379				$ 719	24,281	(7,621)
Balance in Shares at Dec. 31, 2018					7,187,500
Net income (loss)	2,274,432
Balance at Sep. 30, 2019	5,000,005			$ 104	$ 625	2,732,465	2,266,811
Balance in Shares at Sep. 30, 2019				1,036,134	6,250,000
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
Forfeited Class F Common stock by Sponsor					$ (94)	94
Forfeited Class F Common stock by Sponsor, Shares					(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
Balance at Jun. 30, 2019	5,000,002			$ 114	$ 625	3,785,924	1,213,339
Balance in Shares at Jun. 30, 2019				1,141,481	6,250,000
Class A common stock subject to possible redemption	(1,053,469)			$ (10)		(1,053,459)
Class A common stock subject to possible redemption, Shares				(105,347)
Net income (loss)	1,053,472						1,053,472
Balance at Sep. 30, 2019	5,000,005			$ 104	$ 625	2,732,465	2,266,811
Balance in Shares at Sep. 30, 2019				1,036,134	6,250,000
Balance at Dec. 31, 2019	5,000,008			$ 99	$ 625	2,256,679	2,742,605
Balance in Shares at Dec. 31, 2019		988,555	6,250,000	988,555	6,250,000
Class A common stock subject to possible redemption	(485,420)			$ (5)		(485,415)
Class A common stock subject to possible redemption, Shares				(48,542)
Net income (loss)	485,422						485,422
Balance at Mar. 31, 2020	5,000,010			$ 94	$ 625	1,771,264	3,228,027
Balance in Shares at Mar. 31, 2020				940,013	6,250,000
Balance at Dec. 31, 2019	5,000,008			$ 99	$ 625	2,256,679	2,742,605
Balance in Shares at Dec. 31, 2019		988,555	6,250,000	988,555	6,250,000
Net income (loss)	(61,348)
Balance at Sep. 30, 2020	5,000,010			$ 99	$ 625	2,318,029	2,681,257
Balance in Shares at Sep. 30, 2020		994,690	6,250,000	994,690	6,250,000
Balance at Mar. 31, 2020	5,000,010			$ 94	$ 625	1,771,264	3,228,027
Balance in Shares at Mar. 31, 2020				940,013	6,250,000
Class A common stock subject to possible redemption	129,730			$ 1		129,729
Class A common stock subject to possible redemption, Shares				12,973
Net income (loss)	(129,737)						(129,737)
Balance at Jun. 30, 2020	5,000,003			$ 95	$ 625	1,900,993	3,098,290
Balance in Shares at Jun. 30, 2020				952,986	6,250,000
Class A common stock subject to possible redemption	417,040			$ 4		417,036
Class A common stock subject to possible redemption, Shares				41,704
Net income (loss)	(417,033)						(417,033)
Balance at Sep. 30, 2020	$ 5,000,010			$ 99	$ 625	$ 2,318,029	$ 2,681,257
Balance in Shares at Sep. 30, 2020		994,690	6,250,000	994,690	6,250,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash Flows from Operating Activities
Net (loss) income			$ (61,348)	$ 2,274,432
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Interest earned on securities held in Trust Account	$ (6,395)	$ (1,478,279)	(903,675)	(3,311,061)
Changes in operating assets and liabilities:
Prepaid expenses			41,812	(141,651)
Accounts payable and accrued expenses			(46,176)	83,933
Accrued franchise and income taxes			(404,581)	237,800
Net cash used in operating activities			(1,373,968)	(856,547)
Cash Flows from Investing Activities
Investment of cash in Trust Account				(250,000,000)
Interest income released from Trust Account to pay taxes			765,483	577,326
Net cash provided by (used in) investing activities			765,483	(249,422,674)
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			137,078	167,046
Repayment of advances from related party			(220,707)	(118,323)
Proceeds from note payable - related party				37,120
Repayment of note payable - related party				(300,000)
Payment of offering costs				(5,425,042)
Net cash (used in) provided by financing activities			(83,629)	251,360,801
Net (decrease) increase in cash			(692,114)	1,081,580
Cash—beginning of the period			1,126,200	44,896	$ 44,896
Cash—end of the period	$ 434,086	$ 1,126,476	434,086	1,126,476	$ 1,126,200
Supplemental disclosure of non-cash activities:
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 upon completion of the Initial Public Offering				237,363,330
Change in Class A common stock subject to possible redemption			$ (61,350)	$ 2,275,330

Description of Organization and

Description of Organization and Business Operations	9 Months Ended
	Sep. 30, 2020
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”) was incorporated in Delaware on November 17, 2017. On October 30, 2018, the Company changed its name to Crescent Acquisition Corp. 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”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As of September 30, 2020, the Company had not yet commenced operations. All activity for the period from November 17, 2017 (inception) through September 30, 2020 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), and since the closing of the Initial Public Offering, a search for a business combination as described below. The Company will not generate any operating revenues until after completion of its Initial Business Combination, at the earliest. The Company has generated non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering. Sponsor and Financing The Company’s sponsor is CFI Sponsor LLC, a Delaware limited liability company (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 7, 2019. On March 12, 2019, the Company consummated the Initial Public Offering of 25,000,000 units (“Units” and, with respect to the shares of Class A common stock included in the Units sold, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $250,000,000 (see Note 3) and incurring offering costs of approximately $14,650,000, consisting principally of underwriter discounts of $13,750,000 (including $8,750,000 of which payment is deferred) and approximately $900,000 of other offering costs. The Company intends to finance its Initial Business Combination with proceeds from the $250,000,000 Initial Public Offering of Units and a $7,000,000 private placement (see Note 4). Upon the closing of the Initial Public Offering and the private placement, $250,000,000 was placed in a trust account (the “Trust Account”). Trust Account Funds from the Initial Public Offering have been placed in the Trust Account. The proceeds held in the Trust Account will be invested only in U.S. 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, as amended (the “Investment Company Act”) and that invest only in direct U.S. 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 (by March 12, 2021) 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 (by March 12, 2021) 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”) 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 (by March 12, 2021) 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. See Note 8 included in these consolidated financial statements for additional information on the Initial Business Combination. Going Concern Consideration The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2020, the Company had $434,086 available to us outside the Trust Account to fund our working capital requirements, $3,707,651 of investment income held in the Trust Account available to be released to pay for franchise and income taxes and working capital of $95,459. Further, the Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans. Prior to the completion of our Initial Public Offering, our liquidity needs were satisfied through receipt of $25,000 from the sale of the Founder Shares (as defined below) to our Sponsor, $300,000 in a note payable and $118,323 in advances from an affiliate of the Sponsor. The Company fully repaid these borrowings and advances from the Sponsor and related parties. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,”

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated 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 Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Function Acquisition I Corp and Function Acquisition II LLC, since their formation. All material intercompany balances and transactions have been eliminated. 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 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 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 consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in 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 accompanying consolidated statements of operations include 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. For the three and nine months ended September 30, 2020, net income per share, basic and diluted, for Class A common stock is calculated by dividing the investment income earned on the Trust Account of $6,395 and $903,675, respectively, net of applicable income and franchise taxes of $6,395 and $360,925, respectively, by the weighted average number of shares of Class A common stock outstanding of 25,000,000. For the three and nine months ended September 30, 2019, net income per share, basic and diluted, for Class A common stock is calculated by dividing the investment income earned on the Trust Account of $1,478,279 and $3,311,061, respectively, net of applicable income and franchise taxes of $349,928 and $815,126, respectively, by the weighted average number of shares of Class A common stock outstanding of 25,000,000. 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 consolidated 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 as of the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting periods. 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 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. As of September 30, 2020 and December 31, 2019, there were no unrecognized tax benefits. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2020 and December 31, 2019, no amounts were accrued for the payment of interest and penalties. 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. As of September 30, 2020 and December 31, 2019, the Company had deferred tax assets of $262,419 and $70,106, respectively, which had a full valuation allowance recorded against it. The Company’s current taxable income primarily consists of interest income on the Trust Account. The Company’s general and administrative costs are generally considered to be start-up costs and are not currently deductible. During the three months ended September 30, 2020, the Company recorded a benefit for income taxes of $12,202, primarily related to deductible expenses exceeding interest income earned on the Trust Account during the quarter. During the nine months ended September 30, 2020, the Company recorded income tax expense of $210,925, primarily related to interest income earned on the Trust Account. During the three and nine months ended September 30, 2019, the Company recorded income tax expense of $299,928 and $665,126, respectively, primarily related to interest income earned on the Trust Account. For the three and nine months ended September 30, 2020, the Company’s effective tax rate was 2.84% and 141.01%, respectively, which differs from the expected income tax rate due to the start-up costs which are not currently deductible. For the three and nine months ended September 30, 2019, the Company’s effective tax rate was 22.16% and 22.63%, respectively, which differs from the expected income tax rate due to the start-up costs which are not currently deductible. 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 FASB ASC 480. Shares of Class A common stock subject to mandatory redemption are classified as a liability instrument and are 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, as of September 30, 2020 and December 31, 2019, 24,005,310 and 24,011,445, respectively, of the 25,000,000 Public Shares were classified outside of permanent equity. Recent Accounting Pronouncements The Company’s management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s accompanying consolidated financial statements.

Initial Public Offering

Initial Public Offering	9 Months Ended
	Sep. 30, 2020
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”) of 3.5% of the gross offering proceeds ($8,750,000) payable upon the Company’s completion of an Initial Business Combination. The Deferred Underwriting Fee 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
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 (“Founder Shares”) for $25,000. In January 2018, the Sponsor surrendered 1,437,500 Founder Shares to the Company for no consideration, resulting in an aggregate of 7,187,500 Founder Shares outstanding. 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 Initial Public Offering except that the Founder Shares are shares of Class F common stock which 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. Up to 937,500 Founder Shares were subject to forfeiture to the extent that the over-allotment option was not exercised by the underwriters within 45 days from the effective date of the registration statement, March 7, 2019. In April 2019, the Underwriters’ over-allotment option expired and as a result the Sponsor forfeited 937,500 shares of Class F common stock, resulting in an aggregate of 6,250,000 Founder Shares outstanding as of September 30, 2020 and December 31, 2019. 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”). Each 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 (subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like and for certain issuances of equity or equity-linked securities). $5,000,000 of the proceeds of the Private Placement Warrants were added to the proceeds from the Initial Public Offering to be held in the Trust Account such that, at the closing of the Initial Public Offering, $250,000,000 was held in the Trust Account. If the Initial Business Combination is not completed within 24 months (by March 12, 2021) from the closing of the Initial 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 and exercisable on a cashless basis so long as they are held by the Sponsor or its permitted transferees. 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”) pursuant to which Crescent Capital Group LP (“Crescent”), in its capacity as investment advisor on behalf of one or more investment funds or accounts managed by Crescent and its affiliates (such funds or accounts, the “Crescent Funds”), has committed on behalf of the Crescent Funds, to purchase, subject to the terms and conditions set forth the Forward Purchase Agreement, including obtaining fund-level approvals by the relevant investment committee and/or other governing body of such funds, an aggregate of 5,000,000 forward purchase units (the “Forward Purchase Units”), each consisting of 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, the “Forward Purchase Warrants”), for $10.00 per unit, or an aggregate amount of $50,000,000, in a private placement that will close simultaneously with the closing of the Initial Business Combination. The Forward Purchase Warrants will have the same terms as the Private Placement Warrants so long as they are held by a Crescent Fund purchasing the Forward Purchase Units (such Crescent Fund, the “Crescent Fund Purchaser”) or its permitted transferees, and the Forward Purchase Shares will be identical to the Public Shares sold in the Initial Public Offering, except the Forward Purchase Shares will be subject to transfer restrictions and certain registration rights. Any Forward Purchase Warrant held by a holder other than a Crescent Fund Purchaser or its permitted transferees will have the same terms as the Warrants included in the Units sold in the Initial Public Offering. 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’’). This Note was amended and restated on November 6, 2018. This Note was non-interest bearing and payable on the earlier of June 30, 2019 or the closing of the Initial Public Offering. On March 13, 2019, the Note balance of $300,000 was repaid in full. As of September 30, 2020 and December 31, 2019, an affiliate of the Company paid administrative expenses for an aggregate of $591,835 and $454,757, respectively, of which $553,770 and $333,063, respectively, was repaid by the Company, for a net accrual of $38,065 and $121,694, respectively, which is reflected in the accompanying consolidated balance sheets. 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 nine months ended September 30, 2020, the Company incurred expenses of $30,000 and $90,000, respectively, which are included in general and administrative expenses on the accompanying consolidated statements of operations, of which $30,000 were payable as of September 30, 2020 and included in accounts payable and accrued expenses on the accompanying consolidated balance sheets. For the three and nine months ended September 30, 2019, the Company incurred expenses of $30,000 and $68,065, respectively, which are included in general and administrative expenses on the accompanying consolidated statements of operations, of which $30,000 were payable as of September 30, 2019.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
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. As of September 30, 2020 and December 31, 2019, there were 994,690 and 988,555, respectively, of Class A common stock issued and outstanding, excluding 24,005,310 and 24,011,445, respectively, shares of Class A common stock subject to possible redemption. As of September 30, 2020 and December 31, 2019, there were 6,250,000 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. As of September 30, 2020 and December 31, 2019, there were no shares of preferred stock issued or outstanding.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
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 FASB ASC 320 “Investments - Debt and Equity Securities.” The Company follows the guidance in FASB 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 Company did not have any held-to-maturity securities as of September 30, 2020. The gross holding gains and fair value of held-to-maturity securities as of December 31, 2019 are as follows: Held-To-Maturity Amortized Cost Gross Holding Gains Fair Value U.S Treasury Securities (Matured 3/12/2020) $ 253,551,083 $ 6,361 $ 253,557,444 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— As of September 30, 2020, assets held in the Trust Account were comprised of $253,707,651 in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government obligations. As of December 31, 2019, assets held in the Trust Account were comprised of $253,551,083 in U.S. Treasury bills and $18,376 in cash. Cash, money market funds and U.S. Treasury bills are classified as Level 1 securities. As of September 30, 2020 and December 31, 2019, there were no changes in Levels 1, 2 and 3.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Risks and Uncertainties On March 11, 2020, the World Health Organization officially declared the outbreak of the novel coronavirus (“COVID-19”) a “pandemic.” A significant outbreak of COVID-19 and other infectious diseases could result in a widespread health crisis that could adversely affect the economies and financial markets worldwide, and the business of any potential target business with which we consummate an Initial Business Combination could be materially and adversely affected. Furthermore, we may be unable to complete an Initial Business Combination if continued concerns relating to COVID-19 restrict travel, limit the ability to have meetings with potential investors or the target company’s personnel, vendors and services providers are unavailable to negotiate and consummate a transaction in a timely manner. The extent to which COVID-19 impacts our search for an Initial Business Combination will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or treat its impact, among others. If the disruptions posed by COVID-19 or other matters of global concern continue for an extensive period of time, our ability to consummate an Initial Business Combination, or the operations of a target business with which we ultimately consummate an Initial Business Combination, may be materially adversely affected.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Business Combination	8. Business Combination On June 24, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Function Acquisition I Corp, a Delaware corporation and a direct, wholly owned subsidiary of the Company (“First Merger Sub”), Function Acquisition II LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of the Company (“Second Merger Sub”), F45 Training Holdings Inc., a Delaware corporation (“F45”), and Shareholder Representative Services LLC, a Colorado limited liability company, which provides for, among other things: (a) the merger of First Merger Sub with and into F45, with F45 being the surviving corporation of the merger and a direct, wholly owned subsidiary of the Company as a consequence of the merger (the “First Merger”); and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of F45 with and into Second Merger Sub, with Second Merger Sub being the surviving corporation of the merger (together with the First Merger, the “Mergers” and, collectively with the other transactions contemplated by the Merger Agreement, the “Business Combination”). F45 is a leading global fitness training and lifestyle brand that offers consumers functional, 45-minute workouts that are continuously evolving, effective, fun and community-driven. F45 delivers its interval and circuit training workouts through its digitally-connected global network of studios and has built a differentiated, technology-enabled platform that allows for the creation and distribution of the workouts to its global franchise base. Pursuant to the Merger Agreement, the aggregate merger consideration payable to the stockholders of F45 will consist of (assuming no redemptions): (a) an amount in cash equal to the Closing Cash Payment Amount (as defined in the Merger Agreement), which is expected to be approximately $202 million; and (b) shares of newly-issued Class A common stock of the Company, par value $0.0001 per share (“Class A Stock”), equal to the Closing Number of Securities (as defined in the Merger Agreement), which are expected to have a value of approximately $526 million based on a price of $10 per share. The merger consideration payable to the stockholders of F45 is also subject to adjustment based on F45’s cash and indebtedness as of the closing date, among other adjustments contemplated by the Merger Agreement. In addition to the consideration to be paid at the closing of the Business Combination, the stockholders of F45 will be entitled to receive additional earn-out payments from the Company of up to an aggregate of 5 million shares of Class B common stock of the Company (“Class B Stock”), consisting of shares of Class B-1 common stock of the Company, par value $0.0001 per share, and shares of Class B-2 common stock of the Company, par value $0.0001 per share, plus 5 million shares of Class C common stock of the Company (“Class C Stock”), consisting of shares of Class C-1 common stock of the Company, par value $0.0001 per share, and shares of Class C-2 common stock of the Company, par value $0.0001 per share, such Class B Stock and Class C Stock to become convertible into Class A Stock if the price of Class A common stock trading on the Nasdaq Capital Market exceeds certain thresholds during the five-year period following the closing of the Business Combination. As an incentive for F45 to enter into the Merger Agreement, the Sponsor has agreed that 1,250,000 shares of Class A Stock held by it immediately following the closing of the Business Combination (following the automatic conversion of such shares upon the closing of the Business Combination from shares of Class F common stock of the Company, par value $0.0001 per share, into shares of Class A Stock) will be subject to the release of restrictions on transfer only if the price of Class A Stock trading on the Nasdaq Capital Market exceeds the same thresholds during the five-year period following the closing of the Business Combination. Additional information regarding F45 and the Business Combination is available in the proxy statement/prospectus initially filed with the SEC on July 16, 2020. See Note 9 included in these consolidated financial statements for a subsequent event regarding the Business Combination.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events Management has performed an evaluation of subsequent events through the date of issuance of the consolidated financial statements . On October 5, 2020, the Company and F45 entered into a Termination and Release Agreement, effective as of such date, pursuant to which the parties agreed to mutually terminate the Merger Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated 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
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Function Acquisition I Corp and Function Acquisition II LLC, since their formation. All material intercompany balances and transactions have been eliminated.
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 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 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 consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in 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 accompanying consolidated statements of operations include 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. For the three and nine months ended September 30, 2020, net income per share, basic and diluted, for Class A common stock is calculated by dividing the investment income earned on the Trust Account of $6,395 and $903,675, respectively, net of applicable income and franchise taxes of $6,395 and $360,925, respectively, by the weighted average number of shares of Class A common stock outstanding of 25,000,000. For the three and nine months ended September 30, 2019, net income per share, basic and diluted, for Class A common stock is calculated by dividing the investment income earned on the Trust Account of $1,478,279 and $3,311,061, respectively, net of applicable income and franchise taxes of $349,928 and $815,126, respectively, by the weighted average number of shares of Class A common stock outstanding of 25,000,000. 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 consolidated 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 as of the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting periods. Actual results could differ from those estimates.
Offering Costs	Offering Costs The Company complies with the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin 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. As of September 30, 2020 and December 31, 2019, there were no unrecognized tax benefits. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2020 and December 31, 2019, no amounts were accrued for the payment of interest and penalties. 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. As of September 30, 2020 and December 31, 2019, the Company had deferred tax assets of $262,419 and $70,106, respectively, which had a full valuation allowance recorded against it. The Company’s current taxable income primarily consists of interest income on the Trust Account. The Company’s general and administrative costs are generally considered to be start-up costs and are not currently deductible. During the three months ended September 30, 2020, the Company recorded a benefit for income taxes of $12,202, primarily related to deductible expenses exceeding interest income earned on the Trust Account during the quarter. During the nine months ended September 30, 2020, the Company recorded income tax expense of $210,925, primarily related to interest income earned on the Trust Account. During the three and nine months ended September 30, 2019, the Company recorded income tax expense of $299,928 and $665,126, respectively, primarily related to interest income earned on the Trust Account. For the three and nine months ended September 30, 2020, the Company’s effective tax rate was 2.84% and 141.01%, respectively, which differs from the expected income tax rate due to the start-up costs which are not currently deductible. For the three and nine months ended September 30, 2019, the Company’s effective tax rate was 22.16% and 22.63%, respectively, which differs from the expected income tax rate due to the start-up costs which are not currently deductible.
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 FASB ASC 480. Shares of Class A common stock subject to mandatory redemption are classified as a liability instrument and are 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, as of September 30, 2020 and December 31, 2019, 24,005,310 and 24,011,445, respectively, of the 25,000,000 Public Shares were classified outside of permanent equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company’s management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s accompanying consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Gross Holding Losses and Fair Value of Held-to-Maturity Securities	The gross holding gains and fair value of held-to-maturity securities as of December 31, 2019 are as follows: Held-To-Maturity Amortized Cost Gross Holding Gains Fair Value U.S Treasury Securities (Matured 3/12/2020) $ 253,551,083 $ 6,361 $ 253,557,444

Description of Organization a_2

Description of Organization and Business Operations - Additional Information (Details) - USD ($)	Mar. 12, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 13, 2019	Dec. 31, 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		$ 253,707,651			$ 253,569,459
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
Available funds from outside trust account for working capital requirement		434,086
Investment income held in trust account to pay franchise and income tax		3,707,651
Working capital		95,459
Proceeds from note payable			37,120
Advances from an affiliate		$ 137,078	$ 167,046
Founder Shares
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Proceeds from sale of the founder shares				$ 25,000
Sponsor
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Proceeds from note payable				300,000
Advances from an affiliate				$ 118,323
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	14,650,000
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 ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Schedule Of Significant Accounting Policies [Line Items]
Investment income on trust account, net of tax	$ 6,395	$ 1,478,279	$ 903,675	$ 3,311,061
Franchise taxes	6,395	349,928	360,925	815,126
Federal depository insurance coverage	250,000		250,000
Unrecognized tax benefits	0		0		$ 0
Unrecognized tax benefits, interest and penalties accrued	0		0		0
Deferred tax assets	262,419		262,419		$ 70,106
Income tax (benefit) expense	$ (12,202)	$ 299,928	$ 210,925	$ 665,126
Effective tax rate	2.84%	22.16%	141.01%	22.63%
Class A
Schedule Of Significant Accounting Policies [Line Items]
Weighted average number of shares of common stock outstanding	25,000,000	25,000,000	25,000,000	25,000,000
Shares issued, subject to possible redemption, temporary equity	24,005,310		24,005,310		24,011,445
Total shares issued to public	25,000,000		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	24,005,310		24,005,310		24,011,445

Initial Public Offering - Addit

Initial Public Offering - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Mar. 12, 2019
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

Sep. 30, 2020

Sep. 30, 2019

Mar. 31, 2019

Sep. 30, 2020

Sep. 30, 2019

Dec. 31, 2019

Mar. 13, 2019

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

$ 137,078

167,046

Notes payable amended date

Nov. 6, 2018

Repayment of loans from related party

$ 300,000

$ 220,707

118,323

Administrative expenses paid by related party

$ 591,835

591,835

$ 454,757

Advance from related party

$ 38,065

38,065

121,694

Administrative Expenses

Related Party Transaction [Line Items]

Repayment of loans from related party

$ 553,770

$ 333,063

Maximum

Related Party Transaction [Line Items]

Advances from related party

$ 300,000

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]

Proceeds from issuance of common stock

$ 25,000

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

Number of shares surrendered

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

6,250,000

Forfeiture of shares

937,500

937,500

937,500

Sponsor

Related Party Transaction [Line Items]

Advances from related party

$ 118,323

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

$ 30,000

$ 30,000

$ 30,000

30,000

Sponsor | General and Administrative Expense

Related Party Transaction [Line Items]

General and administrative expenses incurred

$ 30,000

$ 30,000

$ 90,000

$ 68,065

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 | 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	9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Class Of Stock [Line Items]
Common stock, voting rights per share	one
Preferred stock, shares authorized	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	994,690			988,555
Common stock, shares outstanding	994,690			988,555
Temporary equity, shares issued	24,005,310			24,011,445
Class F
Class Of Stock [Line Items]
Common stock, shares authorized	25,000,000			25,000,000
Common stock, shares issued	6,250,000			6,250,000
Common stock, shares outstanding	6,250,000			6,250,000
Common Stock | Class A
Class Of Stock [Line Items]
Common stock, shares outstanding	994,690	952,986	940,013	988,555	1,036,134	1,141,481	1,246,441
Temporary equity, shares issued	24,005,310			24,011,445
Common Stock | Class F
Class Of Stock [Line Items]
Common stock, shares outstanding	6,250,000	6,250,000	6,250,000	6,250,000	6,250,000	6,250,000	7,187,500	7,187,500
Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized	5,000,000			5,000,000
Preferred stock, shares issued	0			0
Preferred stock, shares outstanding	0			0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity securities	$ 0
Cash and investments held in Trust Account	253,707,651	$ 253,569,459
Change in fair value of assets and liabilities	0	0
Cash
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and investments held in Trust Account		18,376
U.S. Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity securities		253,551,083
Cash and investments held in Trust Account		$ 253,551,083
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and investments held in Trust Account	$ 253,707,651

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Gross Holding Losses and Fair Value of Held-to-Maturity Securities (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	$ 0
U.S. Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost		$ 253,551,083
Gross Holding Gains		6,361
Fair Value		$ 253,557,444

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Gross Holding Losses and Fair Value of Held-to-Maturity Securities (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019
U.S. Treasury Bills
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Held-to-maturity security maturity date	Mar. 12, 2020

Business Combination - Addition

Business Combination - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 24, 2020	Sep. 30, 2020	Dec. 31, 2019
Class A
Business Acquisition [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001
Merger Agreement
Business Acquisition [Line Items]
Cash payment amount	$ 202
Merger Agreement | Class A
Business Acquisition [Line Items]
Common stock, par value	$ 0.0001
Number of Securities at closing value	$ 526
Business acquisition, share price	$ 10
Business acquisition,number of shares issued	1,250,000
Merger Agreement | Class B Common Stock
Business Acquisition [Line Items]
Business acquisition,number of shares issued	5,000,000
Merger Agreement | Class B-1 Common Stock
Business Acquisition [Line Items]
Common stock, par value	$ 0.0001
Merger Agreement | Class B-2 Common Stock
Business Acquisition [Line Items]
Common stock, par value	$ 0.0001
Merger Agreement | Class C Common Stock
Business Acquisition [Line Items]
Business acquisition,number of shares issued	5,000,000
Merger Agreement | Class C-1 Common Stock
Business Acquisition [Line Items]
Common stock, par value	$ 0.0001
Merger Agreement | Class C-2 Common Stock
Business Acquisition [Line Items]
Common stock, par value	0.0001
Merger Agreement | Class F Common Stock
Business Acquisition [Line Items]
Common stock, par value	$ 0.0001

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)	Oct. 05, 2020
Subsequent Event | Merger Agreement
Subsequent Event [Line Items]
Termination and release agreement effective date	Oct. 5, 2020