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)
 9 Months Ended
Sep. 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 September 30, 2022 and December 31, 2021:
September 30, 2022 December 31, 2021
Fair value $ 0.40  $ 2.47 
Exercise price $ 11.50  $ 11.50 
Common stock price $ 2.38  $ 6.75 
Expected option term (years) 3.92 years 4.67 years
Expected volatility 66.30  % 60.50  %
Risk-free rate of return 4.12  % 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:
  September 30,
2022		 December 31,
2021
Computer equipment
 $ 1,383  $ 1,380 
Furniture and fixtures
 1,012  783 
Laboratory equipment
 3,863  16,856 
Leasehold improvements
 1,997  2,205 
Construction in process 1,240  415 
Property, plant and equipment, gross 9,495  21,639 
Less: accumulated depreciation
 (2,798) (2,255)
Total property, plant and equipment, net $ 6,697  $ 19,384