View Filing Data

Document And Entity Information - USD ($)	6 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2015	Mar. 30, 2016	Jun. 30, 2015
Document Information [Line Items]
Entity Registrant Name	Double Eagle Acquisition Corp.
Entity Central Index Key	0001647088
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float	$ 478,000,000		$ 0
Trading Symbol	EAGL
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		50,000,000
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,500,000

CONDENSED BALANCE SHEET	Dec. 31, 2015 USD ($)
Current asset:
Cash	$ 1,007,861
Cash and investments held in Trust Account	500,089,682
Total assets	501,097,543
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities - Accounts payable and accrued offering costs:	133,460
Deferred underwriting compensation	19,500,000
Total liabilities	19,633,460
Class A ordinary shares subject to possible redemption: 47,646,408 shares (at redemption value of approximately $10.00 per share)	476,464,080
Shareholders’ equity:
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	0
Additional paid-in capital	5,019,326
Accumulated deficit	(20,808)
Total shareholders’ equity	5,000,003
Total liabilities and shareholders’ equity	501,097,543
Common Class A [Member]
Shareholders’ equity:
Common Stock, Value, Issued	235
Total shareholders’ equity	235
Common Class B [Member]
Shareholders’ equity:
Common Stock, Value, Issued	1,250
Total shareholders’ equity	$ 1,250

CONDENSED BALANCE SHEET (Parenthetical)	Dec. 31, 2015 $ / shares shares
Preferred Stock, Par or Stated Value Per Share \| $ / shares	$ 0.0001
Preferred Stock, Shares Authorized	1,000,000
Preferred Stock, Shares Issued	0
Preferred Stock, Shares Outstanding	0
Common Stock, Shares Authorized	400,000,000
Common Class A [Member]
Temporary Equity, Shares Outstanding	47,646,408
Temporary Equity, Redemption Price Per Share \| $ / shares	$ 10.00
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.0001
Common Stock, Shares Authorized	380,000,000
Common Stock, Shares, Issued	2,353,592
Common Stock, Shares, Outstanding	2,353,592
Common Class B [Member]
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.0001
Common Stock, Shares Authorized	20,000,000
Common Stock, Shares, Issued	12,500,000
Common Stock, Shares, Outstanding	12,500,000

CONDENSED STATEMENTS OF OPERATIONS	6 Months Ended
CONDENSED STATEMENTS OF OPERATIONS	Dec. 31, 2015 USD ($) $ / shares shares
Revenues	$ 0
General and administrative expenses	110,490
Loss from operations	(110,490)
Other income - interest on Trust Account	89,682
Net loss attributable to ordinary shares	$ (20,808)
Weighted average ordinary shares outstanding (excluding shares subject to possible redemption):
Basic and diluted \| shares	13,832,830
Net loss per common share:
Basic and diluted \| $ / shares	$ 0.00

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY - 6 months ended Dec. 31, 2015 - USD ($)

Total

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Common Class A [Member]

Common Class B [Member]

Balance at Jun. 25, 2015

$ 0

Balance (in shares) at Jun. 25, 2015

Issuance of ordinary shares to initial shareholders at $0.002 per share

^[1]

25,000

23,620

$ 0

$ 1,380

Issuance of ordinary shares to initial shareholders at $0.002 per share (in shares)

^[1]

13,800,000

Sale of Units to the public in September 2015 at $10.00 per unit

500,000,000

499,995,000

$ 5,000

Sale of Units to the public in September 2015 at $10.00 per unit (in shares)

50,000,000

Underwriters’ discount and offering expenses

(28,290,109)

Sale of 19,500,000 Private Placement Warrants in September 2015 at $0.50 per warrant

9,750,000

Forfeiture of Class B shares by Initial Shareholders

130

$ (130)

Forfeiture of Class B shares by Initial Shareholders (in shares)

(1,300,000)

Proceeds subject to possible redemption of 47,646,408 shares at redemption value

(476,464,080)

(476,459,315)

$ (4,765)

Proceeds subject to possible redemption of 47,646,408 shares at redemption value (in shares)

(47,646,408)

Net loss

(20,808)

Balance at Dec. 31, 2015

$ 5,000,003

$ 5,019,326

$ (20,808)

$ 235

$ 1,250

Balance (in shares) at Dec. 31, 2015

2,353,592

12,500,000

[1]	Share amounts have been retroactively restated to reflect the share capitalization of 1,581,250 to the initial shareholders on September 10, 2015 (see Note 4).

CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares		1 Months Ended	6 Months Ended
	Sep. 10, 2015	Sep. 16, 2015	Dec. 31, 2015
Shares Issued, Price Per Share			$ 0.002
Warrants Issued During Period		19,500,000
Warrants Issued During Period Price Per Warrant		$ 0.50
Stock Issued During Period, Shares, Share-based Compensation, Forfeited	1,581,250
Capital Units [Member]
Shares Issued, Price Per Share		$ 10.00
Common Class A [Member]
Temporary Equity, Shares Outstanding			47,646,408

CONDENSED STATEMENT OF CASH FLOWS	6 Months Ended
CONDENSED STATEMENT OF CASH FLOWS	Dec. 31, 2015 USD ($)
Cash flow from operating activities:
Net loss	$ (20,808)
Formation expenses paid by sponsor	5,000
Changes in operating assets and liabilities:
Increase in accounts payable and accrued expenses	22,970
Net cash provided by operating activities	7,162
Cash flows from investing activities:
Cash deposited in Trust Account	(500,000,000)
Trust income retained in Trust Account	(89,682)
Net cash used in investing activities	(500,089,682)
Cash flows from financing activities:
Proceeds from sale of Public Offering Units	500,000,000
Proceeds from sale of Private Placement Warrants	9,750,000
Payment of underwriting discounts and offering costs	(8,659,619)
Proceeds of shareholder advances	200,000
Repayment of shareholder advances	(200,000)
Net cash provided by financing activities	501,090,381
Net increase in cash	1,007,861
Cash at beginning of period	0
Cash at end of period	1,007,861
Supplemental disclosure of non-cash financing activities:
Deferred underwriters’ commission	19,500,000
Accrued offering costs	110,490
Formation and offering costs paid by sponsor in exchange for founder shares	$ 25,000

Organization and Business Operations

6 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Organization and Business Operations

Incorporation

Double Eagle Acquisition Corp. (the “Company”) was incorporated as a Cayman Islands exempted company on June 26, 2015. The functional currency of the Company is the United States dollar.

Sponsor

The Company’s sponsor is Double Eagle Acquisition LLC, a Delaware limited liability company (the “Sponsor”).

Fiscal Year End

The Company has selected December 31 as its fiscal year end.

Business Purpose

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more operating businesses that it has not yet selected (“Business Combination”).

Financing

The registration statement for the Company’s initial public offering (the “Public Offering”) (as described in Note 3) was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 10, 2015. The Company consummated the Public Offering on September 16, 2015, and, simultaneously with the closing of the Public Offering, the Sponsor, Harry E. Sloan and the Company’s independent directors (and/or one or more of their estate planning vehicles) purchased an aggregate of 19,500,000 warrants in a private placement (as described in Note 4) for a total purchase price of $9,750,000. The closing of the Public Offering included an initial partial exercise (2,000,000 units) of the over-allotment option granted to the underwriters.

Upon the closing of the Public Offering and the private placement, $500,000,000 was placed in a trust account with Continental Stock Transfer & Trust Company acting as trustee (the “Trust Account”).

Trust Account

The Trust Account can be invested in permitted United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), having a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligations.

The Company’s amended and restated memorandum and articles of association provide that, other than the withdrawal of interest to pay income taxes, if any, none of the funds held in trust will be released until the earlier of: (i) the completion of the Business Combination; (ii) the redemption of any of the Class A ordinary shares included in the Units sold in the Public Offering properly tendered in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation to redeem 100% of the Class A ordinary shares included in the Units sold in the Public Offering if the Company does not complete the Business Combination within 24 months from the closing of the Public Offering (September 16, 2017) or (iii) the redemption of 100% of the Class A ordinary shares included in the Units sold in the Public Offering if the Company is unable to complete a Business Combination by September 16, 2017.

Business Combination

A Business Combination is subject to the following size, focus and shareholder approval provisions:

Size/Control — The Company’s Business Combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on the income earned on the Trust Account) at the time of the agreement to enter into the Business Combination. The Company will not complete a Business Combination unless it acquires a controlling interest in a target company or is otherwise not required to register as an investment company under the Investment Company Act.

Focus — The Company’s efforts in identifying prospective target businesses will initially be focused on businesses in the media or entertainment industries, including providers of content, but the Company may pursue acquisition opportunities in other sectors.

Tender Offer/Shareholder Approval — The Company, after signing a definitive agreement for a Business Combination, will either (i) seek shareholder approval of the Business Combination at a meeting called for such purpose in connection with which shareholders may seek to redeem their Class A ordinary shares, regardless of whether they vote for or against the Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial business combination, including interest but less income taxes payable, or (ii) provide shareholders with the opportunity to sell their Class A ordinary shares to the Company by means of a tender offer (and thereby avoid the need for a shareholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to commencement of the tender offer, including interest but less income taxes payable. The decision as to whether the Company will seek shareholder approval of the Business Combination or will allow shareholders to sell their Class A ordinary shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek shareholder approval. If the Company seeks shareholder approval, it will complete its Business Combination only if a majority of the outstanding ordinary shares voted are voted in favor of the Business Combination. However, in no event will the Company redeem its public shares in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its public shares and the related Business Combination, and instead may search for an alternate Business Combination.

If the Company holds a shareholder vote in connection with a Business Combination, a public shareholder will have the right to redeem its Class A ordinary shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial business combination, including interest but less income taxes payable. As a result, such Class A ordinary shares have been recorded at redemption amount and classified as temporary equity, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity.”

Liquidation

The Company has 24 months from the closing of the Public Offering to complete its initial Business Combination. If the Company does not complete a Business Combination within this period of time, it shall (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public shares for a per share pro rata portion of the Trust Account, including interest, but less income taxes payable (less up to $100,000 of such net interest to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its remaining shareholders, as part of its plan of dissolution and liquidation. The Sponsor, Harry E. Sloan and the Company’s executive officers and independent directors (the “initial shareholders”) have entered into letter agreements with the Company, pursuant to which they have waived their rights to participate in any redemption with respect to their Founder Shares (as defined below); however, if the initial shareholders or any of the Company’s officers, directors or affiliates acquire Class A ordinary shares in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company’s redemption or liquidation in the event the Company does not complete a Business Combination within the required time period. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per Unit in the Public Offering.

Emerging Growth Company

Section 102(b)(1) of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accountant standards used.

Significant Accounting Policies

6 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies [Text Block]

Significant Accounting Policies

Basis of Presentation

The accompanying financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the SEC.

Net Loss Per Ordinary Share

Basic net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. Diluted net loss per share is computed by dividing net loss per share by the weighted average number of ordinary shares outstanding, plus, to the extent dilutive, the incremental number of ordinary shares to settle private placement warrants, as calculated using the treasury stock method. For the period presented, the weighted average of these shares was excluded from the calculation of diluted loss per ordinary share because their inclusion would have been anti-dilutive. As a result, dilutive loss per ordinary share is equal to basic loss per ordinary share. The Company did not utilize the two class method to compute earnings per share as the Class A and Class B shareholders share equally in the losses of the Company.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet with the exception of investments in Trust, as they are carried at amortized cost.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Offering Costs

The Company complies with the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of approximately $28,290,000, consisting principally of underwriter discounts of $27,500,000 (including approximately $19,500,000 of which payment is deferred) and approximately $790,000 of professional, printing, filing, regulatory and other costs were charged to shareholders’ equity upon completion of the Public Offering. Approximately $110,000 of such offering expenses were accrued but unpaid at December 31, 2015.

Redeemable Ordinary Shares

As discussed in Note 1, all of the 50,000,000 Class A ordinary shares sold as parts of the Units in the Public Offering contain a redemption feature which allows for the redemption of Class A ordinary shares under the Company's amended and restated memorandum and articles of association. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company has not specified a maximum redemption threshold, its amended and restated memorandum and articles of association provide that in no event will the Company redeem its public shares in an amount that would cause its net tangible assets to be less than $5,000,001.

The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of the security to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares shall be affected by charges against additional paid in capital. Accordingly, at December 31, 2015, 47,646,408 of the 50,000,000 Class A ordinary shares included in the Units were classified outside of permanent equity at its redemption value.

Income Taxes

The Company complies with the accounting and reporting requirements of FASB ASC 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.

There were no unrecognized tax benefits as of December 31, 2015. FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2015. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has been subject to income tax examinations by major taxing authorities since inception.

Recent Accounting Pronouncements

The Company complies with the reporting requirements of FASB Accounting Standards Update (“ASU”) No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirements for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder’s equity. Early application of each of the amendments is permitted for any annual reporting periods or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. For private entities and emerging growth companies under the JOBS Act, the amendments are effective for annual reporting periods beginning after December 15, 2015. The Company has elected early adoption and incorporated the methodologies prescribed by ASU 2014-10 in the accompanying financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 provides guidance on management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The amendments in ASU 2014-15 are effective for annual reporting periods ending after December 15, 2016 and for annual and interim periods thereafter. Early adoption is permitted. The Company has adopted the methodologies prescribed by ASU 2014-15, and it did not have a material effect on its financial position or results of operations.

Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Related Party Transactions

6 Months Ended

Dec. 31, 2015

Related Party Transactions

Founder Shares

On July 1, 2015, the Sponsor purchased 12,218,750 Class B ordinary shares (the “Founder Shares”) for $25,000, or approximately $.002 per share. On July 29, 2015, the Sponsor transferred 6,109,375 Founder Shares to Harry E. Sloan for a purchase price of $12,500 (the same per-share purchase price initially paid by the Sponsor). On August 27, 2015, the Sponsor and Mr. Sloan transferred an aggregate of 25,000 Founder Shares on a pro rata basis to each of the Company’s independent directors at their original purchase price. On August 27, 2015, Mr. Sloan transferred 665,500 Founder Shares to the Sponsor. On September 10, 2015, the Company effected a share capitalization of approximately .129 shares for each outstanding Class B ordinary share, resulting in the initial shareholders holding an aggregate of 13,800,000 Founder Shares. All references in the accompanying condensed financial statements to the number of Class B ordinary shares have been retroactively restated to reflect this transaction. The closing of the Public Offering included an initial partial exercise (2,000,000 Units) of the overallotment option granted to the underwriters which resulted in the forfeiture of an aggregate of 1,300,000 Founder Shares (the “Forfeited Founder Shares”) by the Sponsor, Harry E. Sloan and the Company’s independent directors (consisting of 1,271,771 Forfeited Founder Shares forfeited by the Sponsor, 18,524 Founder Shares forfeited by Harry E. Sloan and 3,235 Forfeited Founder Shares forfeited by each of the Company’s independent directors) due to the underwriters not exercising their over-allotment option in full and such that the remaining Founders Shares will equal 20% of the equity capital of the Company.

The Founder Shares are identical to the Public Shares except that the Founder Shares are subject to certain transfer restrictions, as described in more detail below.

The initial shareholders have agreed not to transfer, assign or sell any of their Founder Shares until the earlier of (A) one year after the completion of the Company’s initial Business Combination, or earlier if, subsequent to the Company’s initial Business Combination, the closing price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination, and (B) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property (the “Lock Up Period”).

Rights — The Founder Shares are identical to the Public Shares except that (i) the Founder Shares are subject to certain transfer restrictions, as described above, and (ii) the initial shareholders have agreed to waive their redemption rights in connection with the Business Combination with respect to the Founder Shares and any Public Shares they may purchase, and to waive their redemption rights with respect to the Founder Shares if the Company fails to complete a Business Combination within 24 months from the closing of the Public Offering.

Voting — If the Company seeks shareholder approval of a Business Combination, the initial shareholders have agreed to vote their Founder Shares and any Public Shares purchased during or after the Public Offering in favor of the Business Combination.

Liquidation — Although the initial shareholders and their permitted transferees have waived their redemption rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the prescribed time frame, they will be entitled to redemption rights with respect to any Public Shares they may own.

Private Placement Warrants

The Sponsor, Harry E. Sloan and the Company’s independent directors purchased from the Company 19,500,000 warrants in the aggregate at a price of $0.50 per warrant (an aggregate purchase price of $9.75 million) in a private placement that occurred simultaneously with the completion of the Public Offering (the “Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase one-half of one Class A ordinary share at $5.75 per one-half share ($11.50 per whole share). The purchase price of the Private Placement Warrants has been added to the proceeds from the Public Offering to be held in the Trust Account pending completion of the Company’s initial Business Combination. The Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of the initial Business Combination, and they will be non-redeemable so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers of the Private Placement Warrants or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Public Warrants and have no net cash settlement provisions.

If the Company does not complete a Business Combination, then the proceeds will be part of the liquidating distribution to the public shareholders and the Private Placement Warrants will expire worthless.

Registration Rights

The initial shareholders and holders of the Private Placement Warrants will be entitled to registration rights pursuant to a registration rights agreement signed on September 10, 2015. The initial shareholders and holders of the Private Placement Warrants will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities for sale under the Securities Act. In addition, these holders will have “piggy-back” registration rights to include their securities in other registration statements filed by the Company. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable Lock Up Period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Administrative Services

The Company will reimburse the Sponsor for office space, secretarial and administrative services provided to members of the Company’s management team by the Sponsor, members of the Sponsor, and the Company’s management team or their affiliates in an amount not to exceed $15,000 per month in the event such space and/or services are utilized and the Company does not pay a third party directly for such services, from the date of closing of the Public Offering. As of December 31, 2015 $52,000 of administrative reimbursement expenses were paid to the Sponsor. Upon completion of a Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Accrued offering costs

The Company has $53,000 due to a shareholder for advances made to pay offering expenses. The balance is non-interest bearing and included in accounts payable and accrued offering costs as of December 31, 2015.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Trust Account and Fair Value Measurements

6 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Trust Account and Fair Value Measurements

As of December 31, 2015, investment securities in the Company Trust Account consisted of $500,080,274 in United States Treasury Bills and another $9,408 held as cash and cash equivalents. The Company classifies its Treasury Instruments and equivalent securities as held-to-maturity in accordance with FASB ASC 320 “Investments – Debt and Equity Securities”. Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying December 31, 2015 balance sheet and adjusted for the amortization or accretion of premiums or discounts. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2015 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In addition, the table presents the carrying value under ASC 320, excluding accrued interest income and gross unrealized holding gain. Since all of the Company’s permitted investments consist of U.S. government treasury bills and cash, fair values of its investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets as follows:

					Quoted prices in
			Gross unrealized		Active Markets
	Carrying Value		Holding Gains		(Level 1)
Treasury Securities Due March 30, 2016	$	500,080,274	$	20,595	$	500,100,869

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Shareholders' Equity

6 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Shareholders’ Equity

Ordinary Shares — The authorized ordinary shares of the Company include up to 400,000,000 shares, including 380,000,000 Class A ordinary shares and 20,000,000 Class B ordinary shares. Holders of the Class A ordinary shares and holders of the Class B ordinary shares vote together as a single class on all matters submitted to a vote of the Company’s shareholders, except as required by law. Each ordinary share has one vote. At December 31, 2015, there were 50,000,000 Class A ordinary shares outstanding, including 47,646,408 shares subject to possible redemption, and 12,500,000 Class B ordinary shares outstanding.

Preferred Shares — The Company is authorized to issue 1,000,000 preferred shares. At December 31, 2015, no preferred shares were outstanding.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Significant Accounting Policies (Policies)

6 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Ordinary Share

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Offering Costs Policy [Policy Text Block]

Offering Costs

Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]

Redeemable Ordinary Shares

Income Tax, Policy [Policy Text Block]

Income Taxes

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Organization and Business Operations (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
	Sep. 16, 2015	Dec. 31, 2015
Organization And Business Operations [Line Items]
Warrants Issued During Period	19,500,000
Proceeds from Issuance of Warrants		$ 9,750,000
Payments to Acquire Restricted Certificates of Deposit		500,000,000
Net Tangible Assets Benchmark Value		5,000,001
Liquidation Basis of Accounting, Accrued Costs to Dispose of Assets and Liabilities		$ 100,000
Common Class A [Member]
Organization And Business Operations [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Private Placement [Member]
Organization And Business Operations [Line Items]
Warrants Issued During Period	19,500,000
Proceeds from Issuance of Warrants	$ 9,750,000
Over-Allotment Option [Member]
Organization And Business Operations [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	2,000,000

Significant Accounting Policies (Details Textual)	6 Months Ended
Significant Accounting Policies (Details Textual)	Dec. 31, 2015 USD ($) shares
Significant Accounting Policies [Line Items]
Offering Costs	$ 28,290,000
Underwriter Discounts	27,500,000
Deferred Offering Costs	19,500,000
Public Offering Fee	790,000
Accrued Liabilities, Current	110,000
Net Tangible Assets Benchmark Value	$ 5,000,001
Common Class A [Member]
Significant Accounting Policies [Line Items]
Common Stock Outstanding Including Temporary Equity \| shares	50,000,000
Temporary Equity, Shares Outstanding \| shares	47,646,408
Redeemable Ordinary Shares [Member]
Significant Accounting Policies [Line Items]
Net Tangible Assets Benchmark Value	$ 5,000,001
Credit Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Cash, FDIC Insured Amount	$ 250,000

Public Offering (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
Public Offering (Details Textual) - USD ($)	Sep. 16, 2015	Dec. 31, 2015
Public Offering [Line Items]
Shares Issued, Price Per Share		$ 0.002
Payments of Stock Issuance Costs		$ 8,659,619
Deferred Offering Costs		$ 19,500,000
Over-Allotment Option [Member]
Public Offering [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	2,000,000
Common Class A [Member]
Public Offering [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.0001
Share Price Per One Half Share		5.75
Share Price		$ 11.50
Capital Units [Member]
Public Offering [Line Items]
Shares, Issued	50,000,000
Shares Issued, Price Per Share	$ 10.00
Common Stock, Par or Stated Value Per Share	$ 0.0001
Payments of Stock Issuance Costs		$ 8,000,000
Aggregate Upfront Underwriting Discount Paid Per Unit Sold		$ 0.16
Upfront Underwriting Discount Paid Per Unit Sold		$ 0.55
Upfront Underwriting Discount Paid At Closing		$ 8,000,000
Deferred Offering Costs		$ 19,500,000
Deferred Discount Per Unit Sold		$ 0.39

Related Party Transactions (Details Textual) - USD ($)

1 Months Ended

6 Months Ended

Sep. 10, 2015

Jul. 01, 2015

Aug. 27, 2015

Jul. 29, 2015

Dec. 31, 2015

Stock Issued During Period, Value, New Issues

$ 500,000,000

Shares Issued, Price Per Share

$ 0.002

Due to Officers or Stockholders

$ 53,000

Director [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period

3,235

Over-Allotment Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

2,000,000

Private Placement [Member]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

19,500,000

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 0.50

Warrants and Rights Outstanding

$ 9,750,000

Sale of Stock, Description of Transaction

Each Private Placement Warrant entitles the holder to purchase one-half of one Class A ordinary share at $5.75 per one-half share ($11.50 per whole share).

Common Class B [Member]

Shares Issued, Price Per Share

$ 0.129

Stock Issued During Period, Shares, Other

13,800,000

^[1]

Founder Shares [Member]

Stock Issued During Period, Shares, New Issues

25,000

Portion Of Founder Shares Forfeited

20.00%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period

1,300,000

Sponsor [Member]

$ 52,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period

1,271,771

Sponsor [Member] | Maximum [Member]

$ 15,000

Sponsor [Member] | Founder Shares [Member]

Stock Issued During Period, Shares, New Issues

12,218,750

665,500

Stock Issued During Period, Value, New Issues

$ 25,000

Harry E Sloan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period

18,524

Harry E Sloan [Member] | Founder Shares [Member]

Stock Issued During Period, Shares, New Issues

6,109,375

Stock Issued During Period, Value, New Issues

$ 12,500

Shares Issued, Price Per Share

$ 0.002

[1]	Share amounts have been retroactively restated to reflect the share capitalization of 1,581,250 to the initial shareholders on September 10, 2015 (see Note 4).

Trust Account and Fair Value Measurements (Details) - US Treasury Securities [Member]	6 Months Ended
	Dec. 31, 2015 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Carrying Value	$ 500,080,274
Held-to-maturity Securities, Gross unrealized Holding Gains	20,595
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities	$ 500,100,869

Shareholders' Equity (Details Textual)	Dec. 31, 2015 shares
Common Stock, Shares Authorized	400,000,000
Preferred Stock, Shares Authorized	1,000,000
Common Class A [Member]
Common Stock, Shares Authorized	380,000,000
Common Stock Outstanding Including Temporary Equity	50,000,000
Temporary Equity, Shares Outstanding	47,646,408
Common Stock, Shares, Outstanding	2,353,592
Common Class B [Member]
Common Stock, Shares Authorized	20,000,000
Common Stock, Shares, Outstanding	12,500,000

Commitments and Contingencies (Details Textual)	6 Months Ended
Commitments and Contingencies (Details Textual)	Dec. 31, 2015 USD ($)
Other Commitments [Line Items]
Other Commitment, Total	$ 19,500,000
Other Commitments, Description	3.9% of the gross offering proceeds of the Public Offering, to the underwriters upon the Companys consummation of a Business Combination.

Trust Account and Fair Value Measurements (Details Textual)	Dec. 31, 2015 USD ($)
Cash and Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Sold Security, at Carrying Value	$ 9,408
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity Securities, Sold Security, at Carrying Value	$ 500,080,274