Business Context and Reporting Period
This Form 8-K was filed by Kayne Anderson Acquisition Corp. (NASDAQ: KAACU, KAAC, KAACW) on August 31, 2018. The registrant is a Delaware corporation and an emerging growth company. The filing announces that the Company will be renamed Altus Midstream Company following the closing of its initial business combination with Apache Corporation.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on a corporate event rather than financial performance data.
Material Changes
The primary material event reported is the scheduled presentation by management at the Barclays CEO Energy-Power Conference in New York City on September 5, 2018. Additionally, the Company has filed a preliminary proxy statement with the SEC regarding the proposed business combination.
Guidance, Outlook, and Risks
Management Commentary and Outlook: The filing contains forward-looking statements regarding the ability to effect the business combination, the benefits thereof, and future financial performance. Management notes that actual results may differ materially from projections due to various risks.
Risks and Contingencies: Key risks identified include:
- Events that could delay or terminate the business combination.
- Legal proceedings instituted against Apache or the Company.
- Failure to obtain stockholder approval or meet other closing conditions.
- Disruption of current plans and operations.
- Inability to realize anticipated benefits due to competition or growth management issues.
- Costs related to the business combination and changes in laws or regulations.
Investor Information: The Company advises stockholders to read the definitive proxy statement for important information regarding the solicitation of proxies and the business combination.
Important Facts for Investors to Verify
- Verify the status of the definitive proxy statement and the record date for voting on the business combination.
- Confirm the outcome of the stockholder vote required to approve the combination with Apache Corporation.
- Review the preliminary proxy statement filed on August 27, 2018, for detailed terms of the transaction.
- Monitor for any updates regarding the September 5, 2018, conference presentation materials.