Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.21.2
Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combinations [Abstract]  
Schedule of Preliminary Fair Values of Assets Acquired And Liabilities Assumed We applied ASC 842 to the operating lease for Novomer's primary operating facility and recorded a right-of-use asset of $2.0 million and a lease liability of $2.0 million. At September 30, 2021, we have recorded contingent purchase price payable, which is payable to the sellers upon our collection of an income tax refund receivable arising from a prior period. All of these amounts are included in the table below that sets forth the preliminary fair values of assets acquired and liabilities assumed:

(in thousands)

 

 

 

Cash and restricted cash

 

$

2,741

 

Property, plant and equipment

 

 

15,591

 

Other assets acquired

 

 

4,285

 

Acquired technology

 

 

85,400

 

Goodwill

 

 

66,581

 

Deferred tax liability

 

 

(16,159

)

Liabilities assumed

 

 

(4,019

)

Contingent purchase price payable

 

 

(500

)

Total preliminary purchase price

 

$

153,920

 
Summary of Proforma Adjustments The following includes proforma adjustments to reflect amortization of acquired technology intangible assets and to reflect $2.6 million of transaction costs in the first quarter of 2020 instead of the three and nine months ended September 30, 2021.

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenue

 

$

13,369

 

 

$

12,864

 

 

$

41,056

 

 

$

35,335

 

Loss from operations

 

$

(30,377

)

 

$

(4,099

)

 

$

(67,969

)

 

$

(14,613

)