Equity |
3 Months Ended |
|---|---|
Mar. 31, 2018 | |
| Equity [Abstract] | |
| Equity | Equity The Company’s authorized common shares consist of three classes: 200,000,000 shares of Class A common stock, 50,000,000 shares of Class B common stock, and 10,000,000 shares of Class F common stock (none of which were issued and outstanding at March 31, 2018 or December 31, 2017). As of March 31, 2018 and December 31, 2017, there were 99,915,614 and 99,791,245 shares of Class A common stock issued and outstanding, respectively. At March 31, 2018 and December 31, 2017 there were 30,255,184 and 30,319,564 shares of Class B common stock issued and outstanding, respectively. Shares of our Class B common stock, together with Class B units in Hostess Holdings, may be exchanged by the holders thereof for, at the Company’s election, shares of Class A common stock, on a one-for-one basis (subject to customary anti-dilution adjustments), or the cash equivalent of such shares. As of March 31, 2018 and December 31, 2017, there were 44,305,536 and 44,182,889 public warrants, respectively, and 12,194,354 and 12,317,001 private placement warrants outstanding, respectively. Each warrant entitles its holder to purchase one-half of one share of the Company’s Class A common stock at an exercise price of $5.75 per half share, to be exercised only for a whole number of shares of the Company’s Class A common stock. The warrants expire on December 4, 2021, or earlier upon redemption or liquidation. The Company may call the outstanding warrants for redemption at a price of $0.01 per warrant, if the last sale price of the Company’s common stock equals or exceeds $24.00 per share for any 20 trading days within a 30 trading day period ending on the third business day before the Company sends the notice of redemption to the warrant holders. The private placement warrants, however, are nonredeemable so long as they are held by the original holders or its permitted transferees. |