10-Q Filing

PERMIAN RESOURCES CORP CIK: 1658566 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001104659-16-139006`
Period End Date	20160630
Filing Date	20160811
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	sraqu-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 39 Income Statement 14 Cash Flow Statement 25 Stockholders Equity 11

Balance Sheet 39 line items

Line Item	Tag	Value	Unit	Period
Shares subject to redemption	`TemporaryEquitySharesOutstanding`	50.00M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$105.50K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$778.52K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$198.65K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$977.18K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$105.50K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investment held in Trust Account	`AssetsHeldInTrustCurrent`	$500.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$370.69K	USD	Point-in-time
Total assets	`Assets`	$476.19K	USD	Point-in-time
Total assets	`Assets`	$501.27M	USD	Point-in-time
Accrued expenses	`AccruedFormationAndOfferingCosts`	$280.12K	USD	Point-in-time
Accrued expenses	`AccruedFormationAndOfferingCosts`	$2.00K	USD	Point-in-time
Payable to affiliate	`DueToAffiliateCurrent`	$23.07K	USD	Point-in-time
Sponsor note	`NotesPayableRelatedPartiesClassifiedCurrent`	$150.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$453.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.00K	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwritingCommission`	$17.50M	USD	Point-in-time
Deferred underwriting compensation	`DeferredUnderwritingCommission`	$17.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$453.19K	USD	Point-in-time
Total liabilities	`Liabilities`	$17.50M	USD	Point-in-time
Class A common stock subject to possible redemption; 47,877,199 and 0 shares at June 30, 2016 and December 31, 2015, respectively (at redemption value of approximately $10.00 per share)	`TemporaryEquityCarryingAmountAttributableToParent`	$478.77M	USD	Point-in-time
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.85K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.94M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-2.00K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$62.52K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.00K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$476.19K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$501.27M	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	-	USD	2 Qtrs
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$232.29K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$202.35K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-202.35K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-232.29K	USD	2 Qtrs
Other income - investment income on Trust Account	`InvestmentIncomeNonoperating`	$234.23K	USD	1 Quarter
Other income - investment income on Trust Account	`InvestmentIncomeNonoperating`	$296.81K	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$31.88K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$64.52K	USD	2 Qtrs
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.62M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.15M	shares	2 Qtrs
Net income per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net income per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$31.88K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$64.52K	USD	2 Qtrs
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$198.65K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-134.13K	USD	2 Qtrs
Cash deposited into trust account	`PaymentsToAcquireInvestments`	$500.00M	USD	2 Qtrs
Trust income retained in Trust Account	`InvestmentIncomeNonoperating`	$234.23K	USD	1 Quarter
Trust income retained in Trust Account	`InvestmentIncomeNonoperating`	$296.81K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-500.30M	USD	2 Qtrs
Proceeds from Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$500.00M	USD	2 Qtrs
Proceeds from Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$500.00M	USD	Point-in-time
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfWarrants`	$12.00M	USD	2 Qtrs
Payment of underwriting discounts	`PaymentOfUnderwritingDiscounts`	$10.00M	USD	Point-in-time
Payment of underwriting discounts	`PaymentOfUnderwritingDiscounts`	$10.00M	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCostsExcludingUnderwritingDiscounts`	$746.02K	USD	2 Qtrs
Proceeds from Sponsor note	`ProceedsFromRelatedPartyDebt`	$150.00K	USD	2 Qtrs
Payment of Sponsor note	`RepaymentsOfRelatedPartyDebt`	$300.00K	USD	Point-in-time
Payment of Sponsor note	`RepaymentsOfRelatedPartyDebt`	$300.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$501.10M	USD	2 Qtrs
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$673.02K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$105.50K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$778.52K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$105.50K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$778.52K	USD	Point-in-time
Deferred Underwriting Commission	`DeferredUnderwritingCommission`	$17.50M	USD	Point-in-time
Deferred Underwriting Commission	`DeferredUnderwritingCommission`	$17.50M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.00K	USD	Point-in-time
Sale of stock	`StockIssuedDuringPeriodValueNewIssues`	$500.00M	USD	2 Qtrs
Underwriters' discount and offering expenses	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$28.32M	USD	2 Qtrs
Underwriters' discount and offering expenses	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$28.32M	USD	Point-in-time
Shares subject to possible redemption	`ReclassificationOfPermanentEquityToTemporaryEquityValue`	$478.77M	USD	2 Qtrs
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$12.00M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$31.88K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$64.52K	USD	2 Qtrs
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.