Business Context and Reporting Period
This Form 8-K was filed by Kayne Anderson Acquisition Corp. (NASDAQ: KAACU, KAAC, KAACW) on October 9, 2018. The registrant is a Delaware corporation and an emerging growth company. The filing announces that the company will be renamed Altus Midstream Company upon the closing of its initial business combination.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report serves as a notification of an upcoming event rather than a financial performance report.
Material Changes
The primary material event reported is the scheduled presentation to research analysts regarding the initial business combination. The filing notes that the company will change its name to Altus Midstream Company following the closing of this transaction.
Guidance, Outlook, and Risks
Outlook and Commentary: The company is in the process of a business combination with Apache Corporation. A preliminary proxy statement has been filed with the SEC, and a definitive proxy statement will be distributed to stockholders for approval of the transaction.
Risks and Contingencies: The filing includes extensive forward-looking statements regarding the ability to effect the business combination and future financial performance. 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.
- Changes in applicable laws or regulations.
- Adverse economic, business, or competitive factors.
Unusual Items: The filing explicitly states it is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities.
Investor Verification Checklist
- Verify the status of the definitive proxy statement and the record date for stockholder voting.
- Review the preliminary proxy statement filed on August 27, 2018, for detailed terms of the business combination.
- Confirm the conditions precedent required to close the transaction with Apache Corporation.
- Monitor for any legal proceedings or regulatory changes that could impact the combination.
- Check the SEC website (www.sec.gov) for the final proxy statement once available.