Business Context and Reporting Period
This Form 8-K is a current report filed by Platinum Eagle Acquisition Corp. (not Target Hospitality Corp.) on January 10, 2019. The registrant is a Cayman Islands corporation and an emerging growth company. The filing primarily addresses corporate governance changes regarding the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on personnel appointments rather than financial performance.
Material Changes
- Board Appointment: Alan Mnuchin was appointed as a member of the Board of Directors and the Audit Committee, effective immediately.
- Independence Determination: The Board determined Mr. Mnuchin is an independent director under Nasdaq listing rules.
- Committee Resignation: James A. Graf resigned from the Audit Committee to comply with applicable listing rules following Mr. Mnuchin's appointment.
- Share Transfer: The Company's sponsor, Platinum Eagle Acquisition LLC, intends to transfer 15,000 Class B ordinary shares to Mr. Mnuchin at their original purchase price.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on business operations. No specific risks or contingencies were disclosed in this report other than standard compliance with listing rules. The filing notes there are no reportable related party transactions involving Mr. Mnuchin under Item 404(a) of Regulation S-K beyond the share transfer.
Investor Verification Checklist
- Verify the identity of the registrant (Platinum Eagle Acquisition Corp.) versus the requested company name (Target Hospitality Corp.).
- Confirm the terms of the Letter Agreement and Indemnity Agreement attached as Exhibits 10.1 and 10.2.
- Review the impact of the Audit Committee composition change on internal controls.
- Check the status of the 15,000 Class B ordinary shares transfer to Alan Mnuchin.