DraftKings 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 14, 2020
Entity Registrant Name	DraftKings Inc.
Document Period End Date	Mar. 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Entity Central Index Key	0001772757
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Class A ordinary shares
Entity Common Stock, Shares Outstanding		312,504,813
Class B ordinary shares
Entity Common Stock, Shares Outstanding		393,013,951

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 157,758	$ 491,225
Prepaid expenses	93,333	319,239
Total current assets	251,091	810,464
Cash and investments held in Trust Account	405,002,234	403,961,209
Total Assets	405,253,325	404,771,673
Current liabilities:
Accounts payable and accrued expenses	1,495,374	1,493,133
Total current liabilities	1,495,374	1,493,133
Deferred underwriting compensation	14,000,000	14,000,000
Total Liabilities	15,495,374	15,493,133
Class A common stock subject to possible redemption; 38,475,795 and 38,427,853 shares at approximately $10.00 per share at March 31, 2020 and December 31, 2019, respectively	384,757,950	384,278,530
Stockholders' equity:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	2,210,029	2,689,444
Retained earnings	2,788,820	2,309,409
Total stockholders' equity	5,000,001	5,000,010
Total liabilities and stockholders' equity	405,253,325	404,771,673
Class A ordinary shares
Stockholders' equity:
Common stock	152	157
Class B ordinary shares
Stockholders' equity:
Common stock	$ 1,000	$ 1,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Preferred shares, par value	$ 0.0001	$ 0.0001
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Class A ordinary shares
Shares subject to possible redemption	38,475,795	38,427,853
Shares subject to possible redemption, par value per share	$ 10	$ 10
Common shares, par value	$ 0.0001	$ 0.0001
Common shares, shares authorized	380,000,000	380,000,000
Common shares, shares issued	1,524,205	1,572,147
Common shares, shares outstanding	1,524,205	1,572,147
Class B ordinary shares
Common shares, par value	$ 0.0001	$ 0.0001
Common shares, shares authorized	20,000,000	20,000,000
Common shares, shares issued	10,000,000	10,000,000
Common shares, shares outstanding	10,000,000	10,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Mar. 31, 2019		Mar. 31, 2020
General and administrative expenses	$ 675		$ 718,799
Loss from operations	(675)		(718,799)
Other income - interest on Trust Account			1,444,499
Income before provision for income tax	(675)		725,700
Provision for income tax	0		246,289
Net income (loss)	$ (675)		479,411
Class A ordinary shares
Provision for income tax			$ 246,289,000
Weighted average number of ordinary shares outstanding			40,000,000
Net income per common stock, basic			$ 0.02
Weighted average number of ordinary shares outstanding, diluted			43,805,838
Net income per common stock diluted			$ 0.02
Class B ordinary shares
Weighted average number of ordinary shares outstanding	8,750,000	[1]	10,000,000
Net income per common stock, basic and diluted			$ (0.04)
[1]	This number excludes an aggregate of up to 1,312,500 shares of Class B common stock subject to forfeiture if the over-allotment option is not exercised by the underwriters.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)	3 Months Ended
	Mar. 31, 2020shares
Class B ordinary shares
Antidilutive aggregate of excluded number of shares	1,312,500

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY - USD ($)	Ordinary SharesClass A ordinary shares	Ordinary SharesClass B ordinary shares	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at the beginning at Mar. 26, 2019	$ 0	$ 0	$ 0	$ 0	$ 0
Balance at the beginning (in shares) at Mar. 26, 2019	0	0
Increase (Decrease) in Stockholders' Equity
Issuance of common stock to initial shareholder at approximately $0.002 per share		$ 1,006	23,994		25,000
Issuance of common stock to initial shareholder at approximately $0.002 per share (in shares)		10,062,500
Net income (loss)				(675)	(675)
Balance at the end at Mar. 31, 2019		$ 1,006	23,994	(675)	24,325
Balance at the end (in shares) at Mar. 31, 2019		10,062,500
Balance at the beginning at Dec. 31, 2019	$ 157	$ 1,000	2,689,444	2,309,409	5,000,010
Balance at the beginning (in shares) at Dec. 31, 2019	1,572,147	10,000,000
Increase (Decrease) in Stockholders' Equity
Adjustment to ordinary common stock subject to redemption	$ (5)		(479,415)		(479,420)
Adjustment to ordinary common stock subject to redemption (in Shares)	(47,942)
Net income (loss)				479,411	479,411
Balance at the end at Mar. 31, 2020	$ 152	$ 1,000	$ 2,210,029	$ 2,788,820	$ 5,000,001
Balance at the end (in shares) at Mar. 31, 2020	1,524,205	10,000,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical)	Mar. 31, 2019$ / shares
Ordinary Shares | Class B ordinary shares
Price per share	$ 0.002

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	Mar. 31, 2019	Mar. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ (675)	$ 479,411
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Trust income reinvested in Trust Account	0	(1,444,499)
Changes in operating assets and liabilities:
Prepaid expenses	0	225,906
Accounts payable and accrued expenses	2,408	2,240
Deferred offering costs	(1,733)
Net cash used in operating activities	0	(736,942)
Cash flows from investing activities:
Cash withdrawn from Trust account to pay taxes	0	403,475
Net cash provided by investing activities	0	403,475
Cash flows from financing activities:
Net change in cash and equivalents during period	0	(333,467)
Cash and equivalents at beginning of period	0	491,225
Cash and equivalents at end of period	0	157,758
Supplemental disclosure of cash flow information:
Cash paid for taxes	0
Supplemental disclosure of non-cash financing activities:
Class A common stock subject to possible redemption	0	$ 479,420
Offering costs paid by Sponsor in exchange for Founder Shares	25,000
Deferred offering costs included in accrued expenses	$ 1,733

Organization and Business Opera

Organization and Business Operations	3 Months Ended
	Mar. 31, 2020
Organization and Business Operations
Organization and Business Operations	1. Organization and Business Operations Incorporation Diamond Eagle Acquisition Corp., our predecessor, was incorporated as a Delaware corporation on March 27, 2019. Subsidiaries In connection with the business combination (the “Business Combination”) with DraftKings Inc., a Delaware corporation (“Old DK” or “DK”), and SBTech (Global) Limited, a company limited by shares, incorporated in Gibraltar and continued as a company under the Isle of Man Companies Act 2006, with registration number 014119V (“SBTech” or “SBT”), the Company formed a wholly-owned subsidiary, DEAC Merger Sub Inc., which was incorporated in Delaware on December 9, 2019 (“Merger Sub”). Merger Sub did not have any activity as of March 31, 2020. Also in connection with the Business Combination, the Company formed another wholly-owned subsidiary, DEAC NV Merger Corp. (“DEAC Nevada”), which was incorporated in Nevada on November 13, 2019. DEAC Nevada did not have any activity as of March 30, 2020. In connection with the Business Combination, DEAC Nevada changed its name to DraftKings Inc. and, by operation of Rule 12g-3(a) under the Exchange Act of 1934, as amended (the “Exchange Act”), became the successor issuer to DEAC and succeeded to the attributes of DEAC as the registrant, including DEAC’s SEC file number (001-38908) and CIK Code (0001772757). Sponsor The Company’s sponsor is Eagle Equity Partners, LLC, a Delaware limited liability company (the “Sponsor”). Fiscal Year End The Company has selected December 31 as its fiscal year end. Business Purpose The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more operating businesses. The Company had neither engaged in any operations nor generated significant revenue through March 31, 2020. Business Combination On December 22, 2019, the Company entered into a business combination agreement (as amended, the “Business Combination Agreement”) with Old DK, SBTech, the shareholders of SBTech (the “SBT Sellers”), Shalom Meckenzie, in his capacity as the SBT Sellers’ Representative, DEAC Nevada and Merger Sub, pursuant to which (i) the Company changed its jurisdiction of incorporation to Nevada by merging with and into DEAC Nevada, with DEAC Nevada surviving the merger (the “reincorporation”), (ii) Merger Sub merged with and into Old DK with Old DK surviving the merger (the “DK Merger”), and (iii) immediately following the DK Merger, New DraftKings (as defined below) acquired all of the issued and outstanding share capital of SBTech. The aggregate value of the consideration paid to Old DK and SBTech shareholders in the Business Combination was approximately $2.7 billion, of which (A) approximately $2.055 billion was paid to (i) the current equityholders of Old DK (the “DK Sellers”) in the form of shares of Class A common stock of New DraftKings (“New DraftKings Class A common stock”), valued at the redemption price for the Company’s public shares in the Business Combination and (ii) holders of vested in-the-money options and warrants exercisable for DK equity in the form of newly issued options and warrants of New DraftKings exercisable for New DraftKings Class A common stock, and (B) approximately €590 million was paid to the SBT Sellers and holders of vested options exercisable for equity of SBT, consisting of (i) €180 million in cash, subject to customary net debt and working capital adjustments as well as certain other specified items (the “Cash Consideration”) payable in respect of the ordinary shares of SBT and 30% of the in-the-money vested options of SBT and (ii) approximately €410 million in shares of New DraftKings Class A common stock, valued at the redemption price for the Company’s public shares in the Business Combination, and in the form of newly issued in-the-money vested options of New DraftKings exercisable for New DraftKings Class A common stock. Outstanding unvested options exercisable for DK or SBT equity (other than cashed-out options of SBT, for which the holders received a portion of the Cash Consideration for such options) converted into options exercisable for shares of New DraftKings Class A common stock. After the execution of the BCA, DK granted restricted stock units to certain of its employees, which converted into restricted stock units denominated in New DraftKings Class A common stock. The Cash Consideration came from the following sources: (1) proceeds available from the Company’s Trust Account, after giving effect to all redemptions; and (2) proceeds from private placements of shares of the Company’s Class A common stock to certain institutional investors immediately prior to the closing of the Business Combination for $304.7 million of proceeds. In addition, in connection with the Business Combination, Jason Robins received shares of Class B common stock of New DraftKings (“New DraftKings Class B common stock”) such that as of immediately following the completion of the Business Combination, Mr. Robins held approximately ninety percent (90%) of the voting power of the capital stock of New DraftKings on a fully-diluted basis. On April 23, 2020, the Company consummated the Business Combination. In connection with the closing of the Business Combination (the “Closing”), DEAC discontinued its existence as a Delaware company by merging with and into DEAC Nevada, with DEAC Nevada surviving the merger as a Nevada corporation (the “reincorporation”). In addition, upon the Closing, Old DK and SBTech became wholly-owned subsidiaries of DEAC Nevada and DEAC Nevada changed its name to DraftKings Inc. (“New DraftKings” or “DraftKings”). References to the “Company” in these notes to the unaudited condensed consolidated financial statements refer to either DEAC before the Business Combination or New DraftKings after the Business Combination, as the context suggests. PIPE Investment and Convertible Notes In connection with satisfying the Minimum Proceeds Condition (as defined in the Business Combination Agreement), the Company entered into subscription agreements (the “Subscription Agreements”), each dated as of December 22, 2019, with certain institutional investors (the “Investors”), pursuant to which, among other things, the Company agreed to issue and sell, in private placements, an aggregate of 30,471,352 shares of Class A common stock for $10.00 per share and an aggregate of 3,000,000 warrants to purchase shares of Class A common stock (the “PIPE Investment”). The warrants have terms identical to New DraftKings’ publicly traded warrants. On and after December 16, 2019, Old DK issued subordinated convertible promissory notes to certain investors in an aggregate principal amount of approximately $109.2 million (the “Convertible Notes”). Pursuant to the terms of the Convertible Notes, the outstanding principal and accrued interest on the Convertible Notes converted immediately prior to the reincorporation into shares of Class A common stock, at a price per share equal to the price per share paid by the Investors in the PIPE Investment, which resulted in the issuance of 11,254,479 shares of Class A common stock on the Closing Date. The PIPE Investment closed immediately prior to the Business Combination on the Closing Date. The shares of Class A common stock issued to the Investors and upon conversion of the Convertible Notes, were converted into shares of DraftKings’ Class A common stock upon consummation of the reincorporation and the Business Combination. The shares issued to the Investors in the PIPE Investment and to the holders of Convertible Notes on the Closing Date were issued pursuant to and in accordance with the exemption from registration under the Securities Act, under Section 4(a)(2) and/or Regulation D promulgated under the Securities Act. For more information, please see the Registration Statement on Form S-1, originally filed by DEAC NV on April 15, 2020. Financing The registration statement for the Company’s initial public offering (the “Public Offering”) (as described in Note 3) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on May 10, 2019. The Company consummated the Public Offering on May 14, 2019, and, simultaneously with the closing of the Public Offering, the Sponsor and Harry E. Sloan purchased an aggregate of 6,333,334 warrants in a private placement (as described in Note 4) for a total purchase price of approximately $9,500,000. The closing of the Public Offering included a partial exercise (5,000,000 units) of the over-allotment option granted to the underwriters. Upon the closing of the Public Offering and the private placement, $400,000,000 was placed in a Trust Account with Continental Stock Transfer & Trust Company acting as trustee (the “Trust Account”). Trust Account The proceeds held in the Trust Account were invested in permitted United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a‑7 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligations. The Company’s amended and restated certificate of incorporation (the “Charter”) as of prior to the Business Combination provided that, other than the withdrawal of interest earned on the funds that may be released to the Company to fund working capital requirements (subject to an annual limit of  $250,000) and/or to pay taxes, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of an initial business combination; (ii) the redemption of any of the shares of Class A common stock, par value $0.0001 per share (the “Class A Common Stock”) included in the Units sold in the Public Offering properly submitted in connection with a stockholder vote to amend the Charter to modify the substance or timing of the Company’s obligation to redeem 100% of the common stock included in the Units being sold in the Public Offering if the Company does not complete an initial business combination within 24 months from the closing of the Public Offering or with respect to any other material provisions relating to stockholders’ rights or pre-initial business combination activity or (iii) the redemption of 100% of the shares of Class A Common Stock included in the Units sold in the Public Offering if the Company was unable to complete an initial business combination within 24 months from the closing of the Public Offering. In connection with the Closing, the Company withdrew $404,981,569 of funds from the Trust Account to partially fund the Business Combination, pay transaction costs associated therewith and fund participant share redemptions. 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 of 1933, as amended (the “Securities Act”) registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (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 an election to opt out is irrevocable. We have 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, we, 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 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 accountant standards used.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation These unaudited condensed consolidated financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. The interim financial information provided is unaudited, but includes all adjustments which management considers necessary for the fair presentation of the results for these periods. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year period and should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Form 10-K filed with the SEC on March 12, 2020. Net Income (Loss) Per Share Net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that could occur if warrants were to be exercised or converted or otherwise resulted in the issuance of Common Stock that then shared in the earnings of the entity. For the three months ended March 31, 2020, the Company had potentially dilutive securities in the form of 19,666,667 warrants, including 13,333,333 warrants issued as part of the Public Units and 6,333,334 Private Placement Warrants issued in the Private Placement. Of the total warrants outstanding for the period then ended, approximately 2,615,800 and 1,242,505 represent incremental shares of common stock, based on their assumed exercise, to be included in the weighted average number of shares of Class A common stock outstanding under the treasury stock method for the calculation of diluted income per share of Class A common stock. The Company uses the “treasury stock method” to calculate potential dilutive shares, as if they were redeemed for common stock at the beginning of the period. The Company’s unaudited condensed consolidated statement of operations includes a presentation of net income per share for common shares subject to redemption in a manner similar to the two-class method of net income (loss) per share. Net income (loss) per common share for basic and diluted Class A common stock is calculated by dividing the interest income earned on the Trust Account, net of applicable franchise taxes of $50,000, working capital up to $250,000 annually, and income taxes of $246,289, by the weighted average number of Class A common stock for the period. Net loss per common share for basic and diluted for Class B common stock is calculated by dividing the net income, which excludes income attributable to Class A common stock, by the weighted average number of Class B 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. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet with the exception of investments in the Trust Account which are carried at amortized cost. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Offering Costs The Company complies with the requirements of the ASC 340‑10‑S99‑1. Offering costs of $22,555,870 consisting principally of underwriters’ discounts of $22,000,000 (including $14,000,000 of which payment is deferred) and $555,870 of professional, printing, filing, regulatory and other costs were charged to additional paid-in capital upon completion of the Public Offering. Income Taxes The Company complies with the accounting and reporting requirements of Financial Accounting Standards Board Accounting Standard Codification, or FASB ASC, 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. There were no unrecognized tax benefits as of March 31, 2020 and December 31, 2019. FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at March 31, 2020 and December 31, 2019. 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 March 31, 2020 and December 31, 2019, the Company’s taxable income primarily consisted of interest income on the Trust Account. The Company’s general and administrative costs are generally considered start-up and business combination costs and are not currently deductible. During the three months ended March 31, 2020, and the period from March 27, 2019 (inception) to March 31, 2019, the Company recorded income tax expense of $246,289 and nil, respectively. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s unaudited condensed consolidated financial statements.

Public Offering

Public Offering	3 Months Ended
	Mar. 31, 2020
Public Offering
Public Offering	3. Public Offering Public Units In the Public Offering, which closed May 14, 2019, the Company sold 40,000,000 Units at a price of $10.00 per Unit. Each Unit consists of one share of Class A Common Stock and one-third of one redeemable warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder to purchase one share of Class A Common Stock at a price of $11.50 per share. Each Warrant will become exercisable on the later of 30 days after the completion of our initial business combination and 12 months from the closing of the Public Offering. The exercise price and number of shares of Class A Common Stock issuable upon exercise of the Warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. The Company granted the underwriters a 45‑day option to purchase up to 5,250,000 additional Units to cover any over-allotment, at the Public Offering price less the underwriting discounts and commissions. The Company issued 5,000,000 Units in connection with the underwriters’ partial exercise of the over-allotment option. Underwriting Commissions The Company paid an underwriting discount of $8,000,000 ($0.20 per Unit sold) to the underwriters at the closing of the Public Offering on May 14, 2019, with an additional fee (“Deferred Discount”) of $14,000,000 ($0.35 per Unit sold) payable upon the Company’s completion of an initial business combination. The Deferred Discount becomes payable to the underwriters from the amounts held in the Trust Account solely in connection with the closing of its initial business combination. Subsequent to March 31, 2020, in connection with the consummation of the Business Combination, the Company paid the Deferred Discount in full.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Related Party Transactions
Related Party Transactions	4. Related Party Transactions Founder Shares On March 28, 2019, the Sponsor received 10,062,500 shares of Class B common stock (the “Founder Shares”) in exchange for a capital contribution of $25,000, or approximately $0.002 per share. The Founder Shares are identical to the shares of Class A Common Stock included in the Units sold in the Public Offering except that the Founder Shares are subject to certain transfer restrictions, as described in more detail below. On April 10, 2019, the Sponsor transferred 4,930,625 Founder Shares to Harry E. Sloan (together with the Sponsor, the “initial stockholders”) for a purchase price of $12,250 (the same per-share price initially paid by the Sponsor), resulting in the Sponsor holding 5,131,875 Founder Shares. On May 10, 2019, the Sponsor and Mr. Sloan each forfeited at no cost 31,875 and 30,625 Founder Shares, respectively, to the Company in connection with the election by the underwriters of the Public Offering to exercise their over-allotment option in part and not in full, resulting in an aggregate of 10,000,000 Founder Shares outstanding. On December 31, 2019, the Sponsor transferred an aggregate of 80,000 Founder Shares to each of the Company's independent directors. The initial stockholders and the Company's independent directors agreed not to transfer, assign or sell any of their Founder Shares until the earlier of (A) one year after the completion of the Company’s initial business combination, or earlier if, subsequent to the Company’s initial business combination, the closing price of the Company’s common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30‑trading day period commencing at least 150 days after the Company’s initial business combination, and (B) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction after the initial business combination that results in all of the Company’s stockholders having the right to exchange their common stock for cash, securities or other property. Private Placement Warrants In conjunction with the Public Offering, the Sponsor and Harry E. Sloan purchased an aggregate of 6,333,334 Private Placement Warrants, at a price of $1.50 per warrant (approximately $9,500,000 in the aggregate) in the IPO Private Placement. Each Private Placement Warrant entitles the holder to purchase one share of Class A Common Stock at $11.50 per share. A portion of the purchase price of the Private Placement Warrants was added to the proceeds from the Public Offering to be held in the Trust Account such that at closing of the Public Offering, $400,000,000 was placed in the Trust Account. On December 31, 2019, the Sponsor transferred an aggregate of 333,332 Private Placement Warrants to certain of the Company's independent directors. The Private Placement Warrants (including the shares of common stock issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or salable until 30 days after the completion of the Business Combination and they are non-redeemable for cash so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers of the Private Placement Warrants or their permitted transferees, the Private Placement Warrants will be redeemable for cash by the Company and exercisable by such holders on the same basis as the warrants included in the Units sold in the Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Warrants sold as part of the Units in the Public Offering and have no net cash settlement provisions. Registration Rights The holders of the Founder Shares, Private Placement Warrants and Warrants that may be issued upon conversion of working capital loans (and any Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion of working capital loans and upon conversion of the Founder Shares) are entitled to registration rights pursuant to a registration rights agreement, requiring the Company to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements. In connection with the Business Combination, the holders of these securities entered into the Stockholders Agreement (as defined below). See Note 8. Sponsor Loans The Sponsor agreed to loan the Company up to an aggregate of $300,000 by the issuance of an unsecured promissory note (the “Note”) to cover expenses related to the Public Offering. The Note was payable without interest on the earlier of December 31, 2019 or the completion of the Public Offering. Upon completion of the Public Offering, $60,875 under the Note was repaid in full. As of March 31, 2020 and December 31, 2019, there was no outstanding balance under the Note. Administrative Services Agreement The Company entered into an administrative services agreement in which the Company reimbursed an affiliate of the Sponsor for office space, utilities and secretarial and administrative services provided to members of the Company’s management team in an amount not to exceed $15,000 per month. For the three months ended March 31, 2020 and the period from March 27, 2019 (inception) to March 31, 2019, the Company incurred $45,000 and nil, respectively, of administrative services expenses under the arrangement. The Company ceased paying these monthly fees upon the Closing. Working Capital Loans In order to finance transaction costs in connection with an intended initial business combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. Up to $1,500,000 of such loans may be convertible into warrants of the post-Business Combination entity at a price of $1.50 per warrant at the option of the lender. Such warrants would be identical to the private placement warrants. The terms of such loans have not been determined and no written agreements exist with respect to such loans. No amounts were borrowed under this arrangement as of March 31, 2020 and December 31, 2019. Risks and Uncertainties Management is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company's financial position and results of its operations, the specific impact is not readily determinable as of the date of these unaudited condensed consolidated financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	5. Commitments and Contingencies Underwriting Agreement As of March 31, 2020, the Company was committed to pay the Deferred Discount totaling $14,000,000, or 3.5% of the gross offering proceeds of the Public Offering, to the underwriters upon the Company’s consummation of an initial business combination. In connection with the Closing, the Company paid the Deferred Discount in full.

Trust Account

Trust Account	3 Months Ended
	Mar. 31, 2020
Trust Account
Trust Account	6. Trust Account 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: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: March 31, Description Level 2020 Assets: Marketable securities held in Trust Account – U.S. Treasury Securities Money Market Fund 1 $ 405,002,234 Transfers to/from Levels 1, 2, and 3 are recognized at the end of the reporting period. There were no transfers between levels for the three months ended March 27, March 31, 2020. Level 1 instruments include investments in money market funds and U.S. Treasury securities. The Company uses inputs such as actual trade data, benchmark yields, quoted market prices from dealers or brokers, and other similar sources to determine the fair value of its investments. As of December 31, 2019, investment securities in the Company’s Trust Account consisted of $403,960,089 in United States Treasury Bills and another $1,120 held as cash and cash equivalents. The Company classifies its Treasury Instruments and equivalent securities as held-to-maturity in accordance with FASB ASC 320 “Investments - Debt and Equity Securities”. Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying December 31, 2019 consolidated balance sheet and adjusted for the amortization or accretion of premiums or discounts. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2019 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In addition, the table presents the carrying value under ASC 320, excluding accrued interest income and gross unrealized holding gain. Since all of the Company’s permitted investments consist of U.S. government treasury bills and cash, fair values of its investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets as follows: Quoted prices in Carrying Value at Gross unrealized Active Markets December 31, 2019 Holding Gain (Level 1) Treasury Securities Held as of December 31, 2019 (1) $ 403,960,089 $ 31,347 $ 403,991,436 (1) Maturity date March 24, 2020. On April 23, 2020, in connection with the Business Combination, the Company liquidated the Trust Account to fund the Business Combination and related expenses. See Note 8.

Stockholder's Equity

Stockholder's Equity	3 Months Ended
	Mar. 31, 2020
Stockholder's Equity
Stockholder's Equity	7. Stockholders’ Equity Class A Common Stock  — DEAC is authorized to issue 380,000,000 shares of Class A common stock with a par value of $0.0001 per share. At March 31, 2020 and December 31, 2019, there were 40,000,000 shares of Class A common stock issued and outstanding of which, 38,475,795 and 38,427,853, respectively, were classified outside of permanent equity. Class B Common Stock  — DEAC is authorized to issue 20,000,000 shares of Class B common stock with a par value of $0.0001 per share. Holders of DEAC’s Class B common stock are entitled to one vote for each share. At March 31, 2020 and December 31, 2019, there were 10,000,000 shares of Class B common stock issued and outstanding. Preferred stock  — DEAC is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share. At March 31, 2020 and December 31, 2019, there were no shares of preferred stock issued or outstanding. Warrants —  Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the Units and only whole Public Warrants will trade. The Public Warrants will become exercisable on the later of  (a) 30 days after the completion of an initial business combination or (b) 12 months from the closing of the Public Offering; provided in each case that the Company has an effective registration statement under the Securities Act covering the shares of Class A Common Stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their Public Warrants on a cashless basis and such cashless exercise is exempt from registration under the Securities Act). The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of an initial business combination, the Company will use its best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares of Class A Common Stock issuable upon exercise of the Public Warrants. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the Public Warrants in accordance with the provisions of the warrant agreement relating to the Warrants. If a registration statement covering the shares of Class A Common Stock issuable upon exercise of the Warrants is not effective by the sixtieth (60th) day after the closing of the initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. The Public Warrants will expire five years after the completion of an initial business combination or earlier upon redemption or liquidation. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Public Offering, except that the Private Placement Warrants and the shares of Class A Common Stock issuable upon exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of an initial business combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be non-redeemable so long as they are held by the initial purchasers or such purchasers’ permitted transferees. If the Private Placement Warrants are held by someone other than their initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company may call the Warrants for redemption (except with respect to the Private Placement 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; and · if, and only if, the last reported closing price of the 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 sends the notice of redemption to the warrant holders. Additionally, commencing ninety days after the Warrants become exercisable, the Company may redeem its outstanding Warrants (including the Private Placement Warrants) in whole and not in part, for the number of shares of Class A Common Stock determined by reference to the table set forth in the Company’s prospectus relating to the Public Offering based on the redemption date and the “fair market value” of the Class A Common Stock, upon a minimum of 30 days’ prior written notice of redemption and if, and only if, the last sale price of the Class A Common Stock equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) on the trading day prior to the date on which the Company sends the notice of redemption to the warrant holders, if, and only if, the Private Placement Warrants are also concurrently exchanged at the same price (equal to a number of shares of Class A Common Stock) as the outstanding Warrants, as described above and if, and only if, there is an effective registration statement covering the shares of Class A Common Stock issuable upon exercise of the Warrants and a current prospectus relating thereto available throughout the 30-day period after written notice of redemption is given. The “fair market value” of the shares of Class A Common Stock is the average last reported sale price of the Class A Common Stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. If the Company calls the Warrants for redemption, management will have the option to require all holders that wish to exercise the Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of Class A Common Stock issuable upon exercise of the Warrants may be adjusted in certain circumstances.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events
Subsequent Events	8. Subsequent Events As described in Note 1, the Company completed its initial business combination on April 23, 2020. In connection with the closing of the Business Combination, the Company paid the Deferred Discount of $14,000,000 to the underwriters of the Public Offering and paid $90,172 to redeeming Class A stockholders. On April 23, 2020, the Company closed the PIPE Investment. See Note 1 . On April 15, 2020, the Company filed a Registration Statement on Form S-1 registering these shares, which was declared effective by the U.S. Securities and Exchange Commission on April 23, 2020.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies
Basis of Presentation	Basis of Presentation These unaudited condensed consolidated financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. The interim financial information provided is unaudited, but includes all adjustments which management considers necessary for the fair presentation of the results for these periods. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year period and should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Form 10-K filed with the SEC on March 12, 2020.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that could occur if warrants were to be exercised or converted or otherwise resulted in the issuance of Common Stock that then shared in the earnings of the entity. For the three months ended March 31, 2020, the Company had potentially dilutive securities in the form of 19,666,667 warrants, including 13,333,333 warrants issued as part of the Public Units and 6,333,334 Private Placement Warrants issued in the Private Placement. Of the total warrants outstanding for the period then ended, approximately 2,615,800 and 1,242,505 represent incremental shares of common stock, based on their assumed exercise, to be included in the weighted average number of shares of Class A common stock outstanding under the treasury stock method for the calculation of diluted income per share of Class A common stock. The Company uses the “treasury stock method” to calculate potential dilutive shares, as if they were redeemed for common stock at the beginning of the period. The Company’s unaudited condensed consolidated statement of operations includes a presentation of net income per share for common shares subject to redemption in a manner similar to the two-class method of net income (loss) per share. Net income (loss) per common share for basic and diluted Class A common stock is calculated by dividing the interest income earned on the Trust Account, net of applicable franchise taxes of $50,000, working capital up to $250,000 annually, and income taxes of $246,289, by the weighted average number of Class A common stock for the period. Net loss per common share for basic and diluted for Class B common stock is calculated by dividing the net income, which excludes income attributable to Class A common stock, by the weighted average number of Class B 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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet with the exception of investments in the Trust Account which are carried at amortized cost.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Offering Costs	Offering Costs The Company complies with the requirements of the ASC 340‑10‑S99‑1. Offering costs of $22,555,870 consisting principally of underwriters’ discounts of $22,000,000 (including $14,000,000 of which payment is deferred) and $555,870 of professional, printing, filing, regulatory and other costs were charged to additional paid-in capital upon completion of the Public Offering.
Income Taxes	Income Taxes The Company complies with the accounting and reporting requirements of Financial Accounting Standards Board Accounting Standard Codification, or FASB ASC, 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. There were no unrecognized tax benefits as of March 31, 2020 and December 31, 2019. FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at March 31, 2020 and December 31, 2019. 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 March 31, 2020 and December 31, 2019, the Company’s taxable income primarily consisted of interest income on the Trust Account. The Company’s general and administrative costs are generally considered start-up and business combination costs and are not currently deductible. During the three months ended March 31, 2020, and the period from March 27, 2019 (inception) to March 31, 2019, the Company recorded income tax expense of $246,289 and nil, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s unaudited condensed consolidated financial statements.

Trust Account (Tables)

Trust Account (Tables)	3 Months Ended
	Mar. 31, 2020
Trust Account
Summary of fair values of its investments	March 31, Description Level 2020 Assets: Marketable securities held in Trust Account – U.S. Treasury Securities Money Market Fund 1 $ 405,002,234 Quoted prices in Carrying Value at Gross unrealized Active Markets December 31, 2019 Holding Gain (Level 1) Treasury Securities Held as of December 31, 2019 (1) $ 403,960,089 $ 31,347 $ 403,991,436

Organisation and Business Opera

Organisation and Business Operations - Business Combination (Details) € in Millions, $ in Millions	Dec. 22, 2019EUR (€)	Dec. 22, 2019USD ($)
Subsidiary, Sale of Stock [Line Items]
Current commitments | $		$ 304.7
DK and SBT
Subsidiary, Sale of Stock [Line Items]
Aggregate consideration | $		2,700
DK Sellers
Subsidiary, Sale of Stock [Line Items]
Aggregate consideration in the form of shares of Class A common stock | $		$ 2,055
SBT Sellers
Subsidiary, Sale of Stock [Line Items]
Aggregate consideration | €	€ 590
Aggregate consideration in the form of shares of Class A common stock | €	410
Aggregate Cash Consideration | €	€ 180
SBT Sellers | DK and SBT
Subsidiary, Sale of Stock [Line Items]
Percentage of voting power of the capital stock	30.00%	30.00%
Mr. Robins | DK and SBT
Subsidiary, Sale of Stock [Line Items]
Percentage of voting power of the capital stock	90.00%	90.00%

Organization and Business Ope_2

Organization and Business Operations - Financing (Details) - USD ($)	May 14, 2019	May 10, 2019	Mar. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Amount deposited in trust account	$ 400,000,000
Private Placement
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of warrants		$ 9,500,000	$ 9,500,000
Number of warrants to purchase shares issued	6,333,334		6,333,334
Amount deposited in trust account			$ 400,000,000
Over-allotment
Subsidiary, Sale of Stock [Line Items]
Number of shares issued		5,000,000	5,000,000

Organization and Business Ope_3

Organization and Business Operations - Trust Account (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Organization and Business Operations
Annual limit to fund working capital requirements	$ 250,000
Obligation to redeem common stock included in the units being sold in the public offering (as a percent)	100.00%
Threshold period from closing of public offering the company is obligated to complete business combination	24 months
Redemption of common stock included in the units sold in public offering (as a percent)	100.00%
Threshold period from closing of public offering the company is unable to complete business combination	24 months
Cash Withdrawn From Trust Account	$ 404,981,569

Organization and Business Ope_4

Organization and Business Operations - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 22, 2019	Dec. 16, 2019	May 10, 2019
Share Price			$ 12
Convertible Notes Payable [Member]
Debt Instrument, Face Amount		$ 109.2
Debt Conversion, Converted Instrument, Shares Issued		11,254,479
P I P E Investment [Member]
Stock Issued During Period, Shares, New Issues	30,471,352
Share Price	$ 10
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	3,000,000

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	May 14, 2019
Offering Costs
Offering costs		$ 22,555,870
Underwriters' discounts		22,000,000
Deferred underwriting compensation		14,000,000	$ 14,000,000
Income Taxes
Unrecognized tax benefits		0	0
Income tax expense	$ 0	246,289
Amounts accrued for the payment of interest and penalties		0	$ 0
Net Income (Loss) Per Share
Interest Income Earned On Trust Account Net Of Applicable To Franchise Taxes		50,000
Cash, FDIC Insured Amount		250,000
Net loss	$ (675)	$ 479,411
Warrant [Member]
Net Income (Loss) Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		19,666,667
Warrants Issued As Part Of Public Units [Member]
Net Income (Loss) Per Share
Incremental Common Shares Attributable to Dilutive Effect Of Warrants		2,615,800
Warrants Issued In P I P E Investment [Member]
Net Income (Loss) Per Share
Incremental Common Shares Attributable to Dilutive Effect Of Warrants		1,242,505
Class A ordinary shares
Income Taxes
Income tax expense		$ 246,289,000
Net Income (Loss) Per Share
Common Stock, Shares Authorized		380,000,000	380,000,000
Common shares, shares outstanding		40,000,000	40,000,000
Class B ordinary shares
Net Income (Loss) Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		1,312,500
Common Stock, Shares Authorized		20,000,000	20,000,000
Common shares, shares outstanding		10,000,000	10,000,000
Public Offering
Offering Costs
Deferred underwriting compensation				$ 14,000,000
Legal and accounting fees		$ 555,870
Net Income (Loss) Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		13,333,333
Private Placement
Net Income (Loss) Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		6,333,334
Maximum
Net Income (Loss) Per Share
Interest Income Earned On Trust Account Net Of Applicable Administration Fee Franchise Taxes Working Capital		$ 250,000

Public Offering (Details)

Public Offering (Details) - USD ($)	May 14, 2019	May 10, 2019	Mar. 31, 2020	Dec. 31, 2019
Subsidiary, Sale of Stock [Line Items]
Price per share		$ 12
Warrants exercisable term after the completion of a business combination			30 days
Warrants exercisable term from the closing of the public offering			12 months
Warrants and Rights Outstanding, Term			5 years
Deferred underwriting compensation			$ 14,000,000	$ 14,000,000
Class A ordinary shares
Subsidiary, Sale of Stock [Line Items]
Number of shares authorized			380,000,000	380,000,000
Public Offering
Subsidiary, Sale of Stock [Line Items]
Number of shares issued	40,000,000
Price per share	$ 10
Number of warrants in a unit	0.33
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1
Warrants exercisable term after the completion of a business combination	30 days
Warrants exercisable term from the closing of the public offering	12 months
Payment of underwriters discount	$ 8,000,000
Underwriting discount per unit	$ 0.20
Deferred underwriting compensation	$ 14,000,000
Deferred underwriting discount per unit	$ 0.35
Public Offering | Class A ordinary shares
Subsidiary, Sale of Stock [Line Items]
Price per share	$ 11.50
Number of shares in a unit	1
Over-allotment
Subsidiary, Sale of Stock [Line Items]
Number of shares issued		5,000,000	5,000,000
Number of shares authorized			5,250,000

Related Party Transactions - Fo

Related Party Transactions - Founder Shares (Details) - USD ($)	Dec. 31, 2019	May 10, 2019	Apr. 10, 2019	Mar. 31, 2019	Mar. 28, 2019	Mar. 31, 2020
Related Party Transaction [Line Items]
Capital contribution by sponsor				$ 25,000
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination		1 year				30 days
Closing price of common stock		$ 12
Closing price of share for threshold trading days		20 days				20 days
Closing price of share for threshold consecutive trading days		30 days				30 days
Threshold period after the business combination in which the 20 trading days within any 30 trading day period commences		150 days
Harry E. Sloan
Related Party Transaction [Line Items]
Transfer of shares to initial stockholder			4,930,625
Purchase price			$ 12,250
Sponsor
Related Party Transaction [Line Items]
Number of shares held by sponsor			5,131,875
Number of shares for forfeited		31,875
Number of founder shares outstanding		10,000,000
Mr. Sloan
Related Party Transaction [Line Items]
Number of shares for forfeited		30,625
Independent directors
Related Party Transaction [Line Items]
Transfer of shares to initial stockholder	80,000
Class B ordinary shares
Related Party Transaction [Line Items]
Number of founder shares outstanding	10,000,000					10,000,000
Class B ordinary shares | Sponsor
Related Party Transaction [Line Items]
Number of shares issued to sponsor					10,062,500
Capital contribution by sponsor					$ 25,000
Capital contribution by sponsor per share					$ 0.002

Related Party Transactions - Pr

Related Party Transactions - Private Placement Warrants (Details) - USD ($)	May 14, 2019	May 10, 2019	Mar. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Exercise price of warrants			$ 1.50
Price per share		$ 12
Amount deposited in trust account	$ 400,000,000
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination		1 year	30 days
Private Placement
Related Party Transaction [Line Items]
Number of warrants to purchase shares issued	6,333,334		6,333,334
Exercise price of warrants			$ 1.50
Proceeds from issuance of warrants		$ 9,500,000	$ 9,500,000
Amount deposited in trust account			$ 400,000,000
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination			30 days
Shares Transferred To Each Of The Independent Director				333,332
Private Placement | Class A ordinary shares
Related Party Transaction [Line Items]
Number of shares issuable per warrant			1
Price per share			$ 11.50

Related Party Transactions - Ot

Related Party Transactions - Other (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Sponsor Loans
Proceeds from Related Party Debt	$ 300,000
Repayments of Related Party Debt	60,875
Balance outstanding	0		$ 0
Administrative Services Agreement
Maximum administrative services expenses per month	15,000
Total administrative services expenses	45,000	$ 0
Working Capital Loans
Maximum amount of working capital loans	$ 1,500,000
Exercise price of warrants	$ 1.50
Working capital loan balance	$ 0		$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies
Deferred Discount	$ 14,000,000	$ 14,000,000
Deferred discount as a percent of gross offering proceeds	3.50%

Trust Account -fair value (Deta

Trust Account -fair value (Details)	Mar. 31, 2020USD ($)
US Treasury Securities [Member] | Quoted Prices in Active Markets (Level 1) | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 405,002,234

Trust Account (Details)

Trust Account (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	$ 1,120
U.S. Government Treasury Securities
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value		$ 403,960,089
Gross Unrealized Holding Gain		31,347
Quoted Prices in Active Markets (Level 1) | U.S. Government Treasury Securities
Schedule of Held-to-maturity Securities [Line Items]
Fair Value		$ 403,991,436

Stockholder's Equity (Details)

Stockholder's Equity (Details) - $ / shares	May 10, 2019	Mar. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred shares, shares authorized		1,000,000	1,000,000
Preferred shares, par value		$ 0.0001	$ 0.0001
Preferred shares, shares issued		0	0
Preferred shares, shares outstanding		0	0
Warrants and Rights Outstanding, Exercisable Term, After Business Combination		30 days
Warrants and Rights Outstanding, Exercisable Term, From Closing Of Public Offering		12 months
Threshold period for filling registration statement after business combination		15 days
Warrants expiration term		5 years
Threshold Period for Not to Transfer, Assign or Sell Any Shares or Warrants After Completion of Initial Business Combination	1 year	30 days
Redemption price per warrant		$ 0.01
Threshold period for written notice of redemption		30 days
Redemption price of stock		$ 18
Closing price of share for threshold trading days	20 days	20 days
Closing price of share for threshold consecutive trading days	30 days	30 days
Redemption period after the warrants become exercisable		90 days
Share Price	$ 12
Number of trading days on which fair market value of shares is reported		10 days
Minimum
Class of Stock [Line Items]
Share Price		$ 10
Class A ordinary shares
Class of Stock [Line Items]
Common shares, shares authorized		380,000,000	380,000,000
Common shares, par value		$ 0.0001	$ 0.0001
Common shares, shares issued		40,000,000	40,000,000
Common shares, shares outstanding		40,000,000	40,000,000
Temporary Equity, Shares Outstanding		38,475,795	38,427,853
Class B ordinary shares
Class of Stock [Line Items]
Common shares, shares authorized		20,000,000	20,000,000
Common shares, par value		$ 0.0001	$ 0.0001
Common shares, shares issued		10,000,000	10,000,000
Common shares, shares outstanding		10,000,000	10,000,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Apr. 23, 2020	Mar. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Deferred underwriting compensation		$ 14,000,000	$ 14,000,000
P I P E Investment [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Deferred underwriting compensation	$ 14,000,000
P I P E Investment [Member] | Subsequent Event [Member] | Class A ordinary shares
Subsequent Event [Line Items]
Amount paid for redemption of shares	$ 90,172

Subsequent events (Details)_2

Subsequent events (Details) - USD ($)	Apr. 10, 2019	Mar. 31, 2020	May 10, 2019
Subsequent Event [Line Items]
Price per share			$ 12
Proceeds from related party debt		$ 300,000
Harry E. Sloan
Subsequent Event [Line Items]
Transfer of shares to initial stockholder	4,930,625
Stock Transferred During Period, Value	$ 12,250
Sponsor
Subsequent Event [Line Items]
Number of shares held by sponsor	5,131,875