Warrants (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Summary of Assumptions to Use Option-Pricing Model

The Company used the Black-Scholes option-pricing model to estimate the fair value of the convertible preferred stock with the following weighted-average assumptions:

	Upon the closing of the Merger on July 23, 2015
Series C Warrant:
Expected term (in years)		5.0
Expected volatility		31.8%
Risk-free interest rate		1.7%
Expected dividend yield		0%

The fair value of the 2015 Private Placement warrants was estimated at their grant dates =using the Black-Scholes pricing model and the following weighted-average assumptions:

	Upon Issuance
Common Stock Warrant:
Expected term (in years)		5.0
Expected volatility		31.8%
Risk-free interest rate		1.6%
Expected dividend yield		0%

The fair value of the 2016 Placement Warrants of $4.4 million was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions:

	September 30, 2016
2016 Placement Warrant:
Expected term (in years)		6.9
Expected volatility		64.3%
Risk-free interest rate		1.4%
Expected dividend yield		0%