Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 25, 2021
Accounting Policies [Abstract]  
Summary of estimated useful lives of property Plant And equipment
The estimated useful lives for each major depreciable classification of property and equipment are as follows
Manufacturing machinery and equipment
    
3-7 years
 
Office furniture and equipment
    
3-7
years
 
Vehicles
    
3-10 years
 
Leasehold improvements
    
3-20
years
 
Summary of assumptions were used for the valuation of the private warrants The following assumptions were used for the valuation of the private warrants:
Warrant term (yrs.)
  
 
4.7
 
Volatility
  
 
30.4
Risk-free rate
  
 
0.91
Dividend yield
  
 
Summary of the change in the fair value of warrant liabilities
The change in the fair value of warrant liabilities is as follows:
 
Balance at June 26, 2021
  
$
39,077,500
 
Change in fair value of warrants
  
 
(3,552,500
 
  
 
 
 
Balance at September 25, 2021
  
$
35,525,000