Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of Fair Value Assumptions These two types of inputs have created the following fair-value hierarchy:
Level 1:
Quoted prices for identical instruments in active markets;
Level 2:
Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
Level 3:
Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
The assumptions used in the Black-Scholes OPM were as follows:
Roccor Black-Scholes OPM Assumptions
Risk-free interest rate
 0.1  %
Revenue discount rate
 7.0  %
Revenue volatility
 30.0  %
Earnout payment discount rate
 4.0  %
The following table presents the fair value per warrant and the valuation assumptions under the Black-Scholes OPM as of June 30, 2022 and December 31, 2021:
June 30, 2022 December 31, 2021
Fair value $ 0.51  $ 2.47 
Exercise price $ 11.50  $ 11.50 
Common stock price $ 3.04  $ 6.75 
Expected option term (years) 4.18 years 4.67 years
Expected volatility 59.50  % 60.50  %
Risk-free rate of return 2.98  % 1.21  %
Expected annual dividend yield —  % —  %
Property, Plant and Equipment, net
Expected useful lives for property, plant and equipment are reviewed at least annually. Estimated useful lives are as follows:
Estimated useful
life in years
Computer equipment
 3
Furniture and fixtures
 7
Laboratory equipment
3-10
Software
3-5
Leasehold improvements
5 or lease term
Property, plant and equipment were as follows:
  June 30,
2022		 December 31,
2021
Computer equipment
 $ 1,334  $ 1,380 
Furniture and fixtures
 775  783 
Laboratory equipment
 3,745  16,856 
Leasehold improvements
 1,853  2,205 
Construction in process 571  415 
8,278  21,639 
Less: accumulated depreciation
 (2,454) (2,255)
Total property, plant and equipment, net
$ 5,824  $ 19,384