Business Context and Reporting Period
This Form 8-K was filed by Kayne Anderson Acquisition Corp. (NASDAQ: KAACU, KAAC, KAACW) on October 17, 2018. The registrant is a Delaware corporation and an emerging growth company. The filing reports on an investor presentation regarding a proposed initial business combination with Apache Corporation, after which the company intends to be renamed Altus Midstream Company.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. This report serves as a notification of an investor presentation and contains no audited financial statements or operational data for the reporting period.
Material Changes
The primary material event reported is the announcement of an investor presentation held on October 17, 2018, detailing the proposed business combination. The filing notes that a preliminary proxy statement was previously filed with the SEC on August 27, 2018, and a definitive proxy statement is expected to be mailed to stockholders for approval of the transaction.
Guidance, Outlook, and Risks
The document contains extensive forward-looking statements regarding the ability to effect the business combination, future financial performance, and anticipated benefits. Management explicitly states that actual results may differ materially due to various risks, including:
- Delays or termination of the definitive agreements.
- Failure to obtain stockholder approval or satisfy closing conditions.
- Disruption of current operations during the transaction process.
- Legal proceedings instituted against the company or Apache Corporation.
- Changes in applicable laws, regulations, or economic factors.
The filing clarifies that this report 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 availability and contents of the definitive proxy statement for details on the business combination terms.
- Review the investor presentation filed as Exhibit 99.1 for specific transaction details.
- Confirm the status of stockholder approval required to close the transaction.
- Monitor for any legal proceedings or regulatory changes that could impact the combination.
- Note that the company name is expected to change to Altus Midstream Company upon closing.