FINANCIAL LIABILITY CARRIED AT FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2020

FINANCIAL LIABILITY CARRIED AT FAIR VALUE [Abstract]

Assumptions Used to Determine Fair Value of Warrants

The SMC 2020 Warrant was initially measured at fair value at the issuance date and classified as equity permanently in accordance with Accounting Standards Codification 815. The fair value of the SMC 2020 Warrant amounted to $21,679 based on the grant date using the Black-Scholes valuation model with the following assumptions:

	Nine Months Ended September 30,
	2020
Fair value of common share(1)	$89.28
Expected term in years(2)	3.42
Volatility(3)	47.42%
Risk-free interest rate(4)	0.15%
Expected dividend(5)	0%

(1)  Fair value of Class A common stock was the closing market price of the Class A common stock on July 29, 2020.

(2)  Expected term of share options is based on the average of the vesting period and the contractual term for each grant according to Staff Accounting Bulletin 110.

(3)  Volatility is calculated based on the historical volatility of the stock of companies comparable to ACM in the period equal to the expected term of each grant.

(4)  Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant.

(5) Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock.