27 code of ethics we adopted a code of conduct and ethics applicable to our directors , officers and employees in accordance with applicable federal securities laws . the code of ethics codifies the business and ethical principles that govern all aspects of our business . section 16 ( a ) beneficial ownership reporting compliance section 16 ( a ) of the securities exchange act of 1934 , as amended , or the exchange act , requires our executive officers , directors and persons who beneficially own more than 10 % of a registered class of our equity securities to file with the securities and exchange commission initial reports of ownership and reports of changes in ownership of our ordinary shares and other equity securities . these executive officers , directors , and greater than 10 % beneficial owners are required by sec regulation to furnish us with copies of all section 16 ( a ) forms filed by such reporting persons . based solely on our review of such forms furnished to us and written representations from certain reporting persons , we believe that all filing requirements applicable to our executive officers , directors and greater than 10 % beneficial owners were filed in a timely manner . item 11. executive compensation employment agreements we have not entered into any employment agreements with our executive officers , and have not made any agreements to provide benefits upon termination of employment . executive officers and director compensation no executive officer has received any cash compensation for services rendered to us . no compensation of any kind , including finders , consulting or other similar fees , will be paid to any of our existing shareholders , including our directors , or any of their respective affiliates , prior to , or for any services they render in order to effectuate , the consummation of a business combination . however , such individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations . there is no limit on the amount of these out-of-pocket expenses and there will be no review of the reasonableness of the expenses by anyone other than our board of directors and audit committee , which includes persons who may seek reimbursement , or a court of competent jurisdiction if such reimbursement is challenged . item 12. security ownership of certain beneficial owners and management and related shareholder matters story_separator_special_tag the following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained elsewhere in this report . certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties . overview we were formed on november 28 , 2016 as a blank check company for the purpose of entering into a merger , share exchange , asset acquisition , stock purchase , recapitalization , reorganization or other similar business combination , with one or more target businesses . our efforts to identify a prospective target business will not be limited to any particular industry or geographic location . we have not selected any target business for our initial business combination . we presently have no revenue , have had losses since inception from incurring formation costs and have had no operations other than the active solicitation of a target business with which to complete a business combination . we have relied upon the sale of our securities and loans from our officers and directors to fund our operations . on october 30 , 2017 , we consummated our ipo of 18,000,000 units . each unit consists of one ordinary share , one-half of a redeemable public warrant and one right to receive 1/10 of an ordinary share upon the consummation of our initial business combination . the units were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 180,000,000. the company granted the underwriters a 45-day option to purchase up to 2,700,000 additional units to cover over-allotments , if any . on october 30 , 2017 , simultaneously with the consummation of the ipo , we consummated a private placement with our sponsor of 475,000 private units at a price of $ 10.00 per private unit , generating total proceeds of $ 4,750,000. the underwriters exercised the over-allotment option in part and , on november 3 , 2017 , the underwriters purchased 2,636,293 over-allotment option units , which were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 26,362,930. on november 3 , 2017 , simultaneously with the sale of the over-allotment units , the company consummated the private sale of an additional 52,726 private units to our sponsor , generating gross proceeds of $ 527,260. on november 3 , 2017 , the underwriters canceled the remainder of the over-allotment option . in connection with the cancellation of the remainder of the over-allotment option , the company canceled an aggregate of 15,927 ordinary shares issued to our sponsor prior to the ipo and private placement . as of december 31 , 2017 , a total of $ 206,362,930 of the net proceeds from the ipo ( including the partial exercise of the over-allotment option ) and the private placements were in a trust account established for the benefit of the company 's public shareholders . our management has broad discretion with respect to the specific application of the net proceeds of ipo and the private placements , although substantially all of the net proceeds are intended to be applied generally towards consummating a business combination . results of operations our entire activity from inception up to october 25 , 2017 was related to the company 's formation , the ipo and general and administrative activities . since the ipo , our activity story_separator_special_tag 27 code of ethics we adopted a code of conduct and ethics applicable to our directors , officers and employees in accordance with applicable federal securities laws . the code of ethics codifies the business and ethical principles that govern all aspects of our business . section 16 ( a ) beneficial ownership reporting compliance section 16 ( a ) of the securities exchange act of 1934 , as amended , or the exchange act , requires our executive officers , directors and persons who beneficially own more than 10 % of a registered class of our equity securities to file with the securities and exchange commission initial reports of ownership and reports of changes in ownership of our ordinary shares and other equity securities . these executive officers , directors , and greater than 10 % beneficial owners are required by sec regulation to furnish us with copies of all section 16 ( a ) forms filed by such reporting persons . based solely on our review of such forms furnished to us and written representations from certain reporting persons , we believe that all filing requirements applicable to our executive officers , directors and greater than 10 % beneficial owners were filed in a timely manner . item 11. executive compensation employment agreements we have not entered into any employment agreements with our executive officers , and have not made any agreements to provide benefits upon termination of employment . executive officers and director compensation no executive officer has received any cash compensation for services rendered to us . no compensation of any kind , including finders , consulting or other similar fees , will be paid to any of our existing shareholders , including our directors , or any of their respective affiliates , prior to , or for any services they render in order to effectuate , the consummation of a business combination . however , such individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations . there is no limit on the amount of these out-of-pocket expenses and there will be no review of the reasonableness of the expenses by anyone other than our board of directors and audit committee , which includes persons who may seek reimbursement , or a court of competent jurisdiction if such reimbursement is challenged . item 12. security ownership of certain beneficial owners and management and related shareholder matters story_separator_special_tag the following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained elsewhere in this report . certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties . overview we were formed on november 28 , 2016 as a blank check company for the purpose of entering into a merger , share exchange , asset acquisition , stock purchase , recapitalization , reorganization or other similar business combination , with one or more target businesses . our efforts to identify a prospective target business will not be limited to any particular industry or geographic location . we have not selected any target business for our initial business combination . we presently have no revenue , have had losses since inception from incurring formation costs and have had no operations other than the active solicitation of a target business with which to complete a business combination . we have relied upon the sale of our securities and loans from our officers and directors to fund our operations . on october 30 , 2017 , we consummated our ipo of 18,000,000 units . each unit consists of one ordinary share , one-half of a redeemable public warrant and one right to receive 1/10 of an ordinary share upon the consummation of our initial business combination . the units were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 180,000,000. the company granted the underwriters a 45-day option to purchase up to 2,700,000 additional units to cover over-allotments , if any . on october 30 , 2017 , simultaneously with the consummation of the ipo , we consummated a private placement with our sponsor of 475,000 private units at a price of $ 10.00 per private unit , generating total proceeds of $ 4,750,000. the underwriters exercised the over-allotment option in part and , on november 3 , 2017 , the underwriters purchased 2,636,293 over-allotment option units , which were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 26,362,930. on november 3 , 2017 , simultaneously with the sale of the over-allotment units , the company consummated the private sale of an additional 52,726 private units to our sponsor , generating gross proceeds of $ 527,260. on november 3 , 2017 , the underwriters canceled the remainder of the over-allotment option . in connection with the cancellation of the remainder of the over-allotment option , the company canceled an aggregate of 15,927 ordinary shares issued to our sponsor prior to the ipo and private placement . as of december 31 , 2017 , a total of $ 206,362,930 of the net proceeds from the ipo ( including the partial exercise of the over-allotment option ) and the private placements were in a trust account established for the benefit of the company 's public shareholders . our management has broad discretion with respect to the specific application of the net proceeds of ipo and the private placements , although substantially all of the net proceeds are intended to be applied generally towards consummating a business combination . results of operations our entire activity from inception up to october 25 , 2017 was related to the company 's formation , the ipo and general and administrative activities . since the ipo , our activity

liquidity and capital resources as of december 31 , 2017 , we had cash outside our trust account of $ 165,405 , available for working capital needs . all remaining cash was held in the trust account and is generally unavailable for our use , prior to an initial business combination . our liquidity needs have been satisfied to date through receipt of $ 31,038 from the sale of the insider shares , advances from our sponsor and an affiliate of our sponsor in an aggregate amount of $ 663,009 , which were repaid upon our ipo and not outstanding as of december 31 , 2017 , and the remaining net proceeds from our ipo and private placements . additionally , on april 9 , 2018 , our sponsor agreed to loan to us an additional $ 500,000 pursuant to a non-convertible non-interest bearing promissory note , which will be repaid promptly after the date on which we consummate a business combination . in the event that we are unable to consummate a business combination , as described in the prospectus relating to the ipo , the balance of such note will be forgiven and our sponsor will not be entitled to any payment thereunder . we intend to use substantially all of the net proceeds of the ipo , including the funds held in the trust account , and any additional funding from our sponsor 's promissory note commitment , to acquire a target business or businesses and to pay our expenses relating thereto , including a cash fee equal to 3.5 % of the gross proceeds of the ipo payable to the representative of the underwriters upon consummation of our initial business combination for assisting us in connection with such business combination .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources as of december 31 , 2017 , we had cash outside our trust account of $ 165,405 , available for working capital needs . all remaining cash was held in the trust account and is generally unavailable for our use , prior to an initial business combination . our liquidity needs have been satisfied to date through receipt of $ 31,038 from the sale of the insider shares , advances from our sponsor and an affiliate of our sponsor in an aggregate amount of $ 663,009 , which were repaid upon our ipo and not outstanding as of december 31 , 2017 , and the remaining net proceeds from our ipo and private placements . additionally , on april 9 , 2018 , our sponsor agreed to loan to us an additional $ 500,000 pursuant to a non-convertible non-interest bearing promissory note , which will be repaid promptly after the date on which we consummate a business combination . in the event that we are unable to consummate a business combination , as described in the prospectus relating to the ipo , the balance of such note will be forgiven and our sponsor will not be entitled to any payment thereunder . we intend to use substantially all of the net proceeds of the ipo , including the funds held in the trust account , and any additional funding from our sponsor 's promissory note commitment , to acquire a target business or businesses and to pay our expenses relating thereto , including a cash fee equal to 3.5 % of the gross proceeds of the ipo payable to the representative of the underwriters upon consummation of our initial business combination for assisting us in connection with such business combination .
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 Suspicious Activity Report : 27 code of ethics we adopted a code of conduct and ethics applicable to our directors , officers and employees in accordance with applicable federal securities laws . the code of ethics codifies the business and ethical principles that govern all aspects of our business . section 16 ( a ) beneficial ownership reporting compliance section 16 ( a ) of the securities exchange act of 1934 , as amended , or the exchange act , requires our executive officers , directors and persons who beneficially own more than 10 % of a registered class of our equity securities to file with the securities and exchange commission initial reports of ownership and reports of changes in ownership of our ordinary shares and other equity securities . these executive officers , directors , and greater than 10 % beneficial owners are required by sec regulation to furnish us with copies of all section 16 ( a ) forms filed by such reporting persons . based solely on our review of such forms furnished to us and written representations from certain reporting persons , we believe that all filing requirements applicable to our executive officers , directors and greater than 10 % beneficial owners were filed in a timely manner . item 11. executive compensation employment agreements we have not entered into any employment agreements with our executive officers , and have not made any agreements to provide benefits upon termination of employment . executive officers and director compensation no executive officer has received any cash compensation for services rendered to us . no compensation of any kind , including finders , consulting or other similar fees , will be paid to any of our existing shareholders , including our directors , or any of their respective affiliates , prior to , or for any services they render in order to effectuate , the consummation of a business combination . however , such individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations . there is no limit on the amount of these out-of-pocket expenses and there will be no review of the reasonableness of the expenses by anyone other than our board of directors and audit committee , which includes persons who may seek reimbursement , or a court of competent jurisdiction if such reimbursement is challenged . item 12. security ownership of certain beneficial owners and management and related shareholder matters story_separator_special_tag the following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained elsewhere in this report . certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties . overview we were formed on november 28 , 2016 as a blank check company for the purpose of entering into a merger , share exchange , asset acquisition , stock purchase , recapitalization , reorganization or other similar business combination , with one or more target businesses . our efforts to identify a prospective target business will not be limited to any particular industry or geographic location . we have not selected any target business for our initial business combination . we presently have no revenue , have had losses since inception from incurring formation costs and have had no operations other than the active solicitation of a target business with which to complete a business combination . we have relied upon the sale of our securities and loans from our officers and directors to fund our operations . on october 30 , 2017 , we consummated our ipo of 18,000,000 units . each unit consists of one ordinary share , one-half of a redeemable public warrant and one right to receive 1/10 of an ordinary share upon the consummation of our initial business combination . the units were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 180,000,000. the company granted the underwriters a 45-day option to purchase up to 2,700,000 additional units to cover over-allotments , if any . on october 30 , 2017 , simultaneously with the consummation of the ipo , we consummated a private placement with our sponsor of 475,000 private units at a price of $ 10.00 per private unit , generating total proceeds of $ 4,750,000. the underwriters exercised the over-allotment option in part and , on november 3 , 2017 , the underwriters purchased 2,636,293 over-allotment option units , which were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 26,362,930. on november 3 , 2017 , simultaneously with the sale of the over-allotment units , the company consummated the private sale of an additional 52,726 private units to our sponsor , generating gross proceeds of $ 527,260. on november 3 , 2017 , the underwriters canceled the remainder of the over-allotment option . in connection with the cancellation of the remainder of the over-allotment option , the company canceled an aggregate of 15,927 ordinary shares issued to our sponsor prior to the ipo and private placement . as of december 31 , 2017 , a total of $ 206,362,930 of the net proceeds from the ipo ( including the partial exercise of the over-allotment option ) and the private placements were in a trust account established for the benefit of the company 's public shareholders . our management has broad discretion with respect to the specific application of the net proceeds of ipo and the private placements , although substantially all of the net proceeds are intended to be applied generally towards consummating a business combination . results of operations our entire activity from inception up to october 25 , 2017 was related to the company 's formation , the ipo and general and administrative activities . since the ipo , our activity story_separator_special_tag 27 code of ethics we adopted a code of conduct and ethics applicable to our directors , officers and employees in accordance with applicable federal securities laws . the code of ethics codifies the business and ethical principles that govern all aspects of our business . section 16 ( a ) beneficial ownership reporting compliance section 16 ( a ) of the securities exchange act of 1934 , as amended , or the exchange act , requires our executive officers , directors and persons who beneficially own more than 10 % of a registered class of our equity securities to file with the securities and exchange commission initial reports of ownership and reports of changes in ownership of our ordinary shares and other equity securities . these executive officers , directors , and greater than 10 % beneficial owners are required by sec regulation to furnish us with copies of all section 16 ( a ) forms filed by such reporting persons . based solely on our review of such forms furnished to us and written representations from certain reporting persons , we believe that all filing requirements applicable to our executive officers , directors and greater than 10 % beneficial owners were filed in a timely manner . item 11. executive compensation employment agreements we have not entered into any employment agreements with our executive officers , and have not made any agreements to provide benefits upon termination of employment . executive officers and director compensation no executive officer has received any cash compensation for services rendered to us . no compensation of any kind , including finders , consulting or other similar fees , will be paid to any of our existing shareholders , including our directors , or any of their respective affiliates , prior to , or for any services they render in order to effectuate , the consummation of a business combination . however , such individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations . there is no limit on the amount of these out-of-pocket expenses and there will be no review of the reasonableness of the expenses by anyone other than our board of directors and audit committee , which includes persons who may seek reimbursement , or a court of competent jurisdiction if such reimbursement is challenged . item 12. security ownership of certain beneficial owners and management and related shareholder matters story_separator_special_tag the following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained elsewhere in this report . certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties . overview we were formed on november 28 , 2016 as a blank check company for the purpose of entering into a merger , share exchange , asset acquisition , stock purchase , recapitalization , reorganization or other similar business combination , with one or more target businesses . our efforts to identify a prospective target business will not be limited to any particular industry or geographic location . we have not selected any target business for our initial business combination . we presently have no revenue , have had losses since inception from incurring formation costs and have had no operations other than the active solicitation of a target business with which to complete a business combination . we have relied upon the sale of our securities and loans from our officers and directors to fund our operations . on october 30 , 2017 , we consummated our ipo of 18,000,000 units . each unit consists of one ordinary share , one-half of a redeemable public warrant and one right to receive 1/10 of an ordinary share upon the consummation of our initial business combination . the units were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 180,000,000. the company granted the underwriters a 45-day option to purchase up to 2,700,000 additional units to cover over-allotments , if any . on october 30 , 2017 , simultaneously with the consummation of the ipo , we consummated a private placement with our sponsor of 475,000 private units at a price of $ 10.00 per private unit , generating total proceeds of $ 4,750,000. the underwriters exercised the over-allotment option in part and , on november 3 , 2017 , the underwriters purchased 2,636,293 over-allotment option units , which were sold at an offering price of $ 10.00 per unit , generating gross proceeds of $ 26,362,930. on november 3 , 2017 , simultaneously with the sale of the over-allotment units , the company consummated the private sale of an additional 52,726 private units to our sponsor , generating gross proceeds of $ 527,260. on november 3 , 2017 , the underwriters canceled the remainder of the over-allotment option . in connection with the cancellation of the remainder of the over-allotment option , the company canceled an aggregate of 15,927 ordinary shares issued to our sponsor prior to the ipo and private placement . as of december 31 , 2017 , a total of $ 206,362,930 of the net proceeds from the ipo ( including the partial exercise of the over-allotment option ) and the private placements were in a trust account established for the benefit of the company 's public shareholders . our management has broad discretion with respect to the specific application of the net proceeds of ipo and the private placements , although substantially all of the net proceeds are intended to be applied generally towards consummating a business combination . results of operations our entire activity from inception up to october 25 , 2017 was related to the company 's formation , the ipo and general and administrative activities . since the ipo , our activity

