Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.21.2
Fair Value Measurements (Tables)
 9 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments at Fair Value

The following tables present the financial instruments carried at fair value on a recurring basis as of March 31, 2021 and June 30, 2020, respectively, in accordance with the FASB ASC 820 hierarchy (in thousands):

 

    Fair Value Measurements at March 31, 2021  
    Level 1     Level 2     Level 3     Total  
Assets                                
Cash and cash equivalents   $ 3,307,083     $ —     $ —     $ 3,307,083  
                                 
Liabilities                                
Warrant liability   $ —       —     $ 10,458,393     $ 10,458,393  

 

    Fair Value Measurements at June 30, 2020  
    Level 1     Level 2     Level 3     Total  
Assets                                
Cash and cash equivalents   $ 3,024,980     $ —     $ —     $ 3,024,980  
Schedule of Assumptions Fair Value of the Warrant Liability

The assumptions used to determine the fair value of the warrant liability as of March 31, 2021 were as follows:

 

Dividend yield     0.00 %
Expected volatility     49.6 %
Risk-free rate     0.35 %
Expected term (years)     2.94