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Warrants (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Schedule of Fair Value Assumptions | The fair value of the earnout is arrived at using the Black-Scholes option pricing model (“OPM”) using the following assumptions:
MIS Black-Scholes OPM Assumptions |
Risk-free interest rate | 0.05 | %
Revenue volatility | 51.7 | %
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 private warrants were valued at $2.81 and $2.47 per warrant as of September 2, 2021 and December 31, 2021, respectively, under the Black-Scholes OPM using the following assumptions:
| September 2, 2021 |  | December 31, 2021
Exercise price | $ | 11.50 |  |  | $ | 11.50 |
Common stock price | $ | 10.50 |  |  | $ | 6.75 |
Expected option term (years) | 5 |  | 4.67
Expected volatility | 32.80 | % |  | 60.50 | %
Risk-free rate of return | 0.78 | % |  | 1.21 | %
Expected annual dividend yield | — | % |  | — | %

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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