KAYNE ANDERSON ACQUISITION CORP. (NASDAQ:KAACU) Files An 8-K Other Events

Item8.01

Over-Allotment Closing

As previously reported on a Current Report on Form 8-K of Kayne
Anderson Acquisition Corp. (the Company), on
April4, 2017, the Company consummated its initial public offering
(IPO) of 35,000,000 units
(Units), each Unit consisting of one share of
ClassA common stock, $0.0001 par value per share (Common
Stock) and one-third of one warrant
(Warrant) to purchase one share of Common Stock,
to the registration statement on Form S-1 (File No.333-216514).
The Units were sold at an offering price of $10.00 per Unit,
generating gross proceeds of $350,000,000. The underwriters of
the IPO were granted an option to purchase up to an additional
5,250,000 Units to cover over-allotments, if any
(Over-Allotment Units). On April21, 2017, the
underwriters exercised the option in part and purchased 2,732,112
Over-Allotment Units, which were sold at an offering price of
$10.00 per Unit, generating gross proceeds of $27,321,120.

As previously reported on a Current Report on Form 8-K of the
Company, on April4, 2017, simultaneously with the consummation of
the IPO, the Company completed a private placement (the
Private Placement) of an aggregate of 6,000,000
warrants (the Placement Warrants) to Kayne
Anderson Sponsor, LLC (the Sponsor), generating
gross proceeds of $9,000,000.On April21, 2017, simultaneously
with the sale of the Over-Allotment Units, the Company
consummated a private sale of an additional 364,281 Placement
Warrants to the Sponsor, generating gross proceeds of
$546,422.40.

In addition, the 10,062,500 shares of Class B common stock of the
Company (the Founder Shares) held by the
Companys initial stockholders (prior to the exercise of the
over-allotment) included an aggregate of up to 1,312,500 Founder
Shares subject to forfeiture by the Sponsor to the extent that
the underwriters over-allotment option was not exercised in full,
so that the initial stockholders would collectively own 20.0% of
issued and outstanding shares of the Company. Since the
underwriters exercised the over-allotment option in part and
purchased 2,732,112 of the total possible 5,250,000
Over-Allotment Units, the Sponsor forfeited 629,472 Founder
Shares on April21, 2017 in order to maintain ownership of 20.0%
of issued and outstanding shares of the Company. The Founder
Shares forfeited by the Sponsor were cancelled by the Company.

A total of $377,321,120 of the net proceeds from the sale of
Units in the IPO (including the Over-Allotment Units) and the
private placements on April4, 2017 and April21, 2017 were placed
in a trust account established for the benefit of the Companys
public stockholders. An audited balance sheet as of April4, 2017
reflecting receipt of the net proceeds from the IPO and the
Private Placement on April4, 2017, but not the proceeds from the
sale of the Over-Allotment Units nor the private placement on
April21, 2017, had been prepared by the Company and previously
filed on a Current Report on Form8-K on April10, 2017. The
Companys unaudited pro forma balance sheet as of April21, 2017,
reflecting receipt of the proceeds from the sale of the
Over-Allotment Units and the private placement on the same day is
included as Exhibit99.1 to this Current Report on Form8-K.

A copy of the press release issued by the Company announcing the
consummation of the sale of the Over-Allotment Units is included
as Exhibit 99.2 to this Current Report on Form8-K.

Separate Trading of Units, ClassA Common Stock and
Warrants

On April26, 2017, the Company announced that, commencing on
April27, 2017, the holders of Units issued in its IPO may elect
to separately trade shares of Common Stock and Warrants included
in the Units. The Units not separated will continue to trade on
The Nasdaq Capital Market under the symbol KAACU. Shares of
Common Stock and the Warrants are expected to trade on The Nasdaq
Capital Market under the symbols KAAC and KAACW, respectively. No
fractional warrants will be issued upon separation of the Units
and only whole Warrants will trade. Holders of Units will need to
have their brokers contact American Stock Transfer Trust Company,
LLC, the Companys transfer agent, in order to separate the Units
into shares of Common Stock and Warrants.

A copy of the Press Release issued by the Company announcing the
separate trading of the securities underlying the Units is
attached hereto as Exhibit99.3.

About KAYNE ANDERSON ACQUISITION CORP. (NASDAQ:KAACU)

Kayne Anderson Acquisition Corp. is a blank check company. The Company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for a target business in the energy industry. The Company focuses on identifying, combining with and maximizing the value of a company with operations in the energy industry. As of March 16, 2017, the Company had not generated any revenues.

KAYNE ANDERSON ACQUISITION CORP. (NASDAQ:KAACU) Recent Trading Information

KAYNE ANDERSON ACQUISITION CORP. (NASDAQ:KAACU) closed its last trading session at with 1,082,912 shares trading hands.