Fair Value Measurements (Tables)
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3 Months Ended |
12 Months Ended |
Mar. 31, 2025 |
Dec. 31, 2024 |
| Fair Value Measurements |
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| Schedule of assets and liabilities that are measured at fair value on a recurring basis |
| | | | | | | | | | | | March 31, 2025 | | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | | | Marketable securities held in trust account | | $ | 433,645 | | $ | — | | $ | — | Liabilities: | | | | | | | | | | Public Warrants | | $ | — | | $ | 2,270,100 | | $ | — | Private Placement Warrants | | $ | — | | $ | 2,310,000 | | $ | — |
| | | | | | | | | | | | December 31, 2024 | | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | | | Marketable securities held in trust account | | $ | 429,151 | | $ | — | | $ | — | Liabilities: | | | | | | | | | | Public Warrants | | $ | — | | $ | 2,300,000 | | $ | — | Private Placement Warrants | | $ | — | | $ | 2,339,000 | | $ | — |
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| | | | | | | | | | | | December 31, 2024 | | | (Level 1) | | (Level 2) | | (Level 3) | Assets | | | | | | | | | | Marketable securities held in trust account | | $ | 429,151 | | $ | — | | $ | — | Liabilities | | | | | | | | | | Public Warrants | | $ | — | | $ | 2,300,000 | | $ | — | Private Placement Warrants | | $ | — | | $ | 2,339,000 | | $ | — |
| | | | | | | | | | | | December 31, 2023 | | | (Level 1) | | (Level 2) | | (Level 3) | Assets | | | | | | | | | | Marketable securities held in trust account | | $ | 44,709,805 | | $ | — | | $ | — | Liabilities | | | | | | | | | | Public Warrants | | $ | 287,500 | | $ | — | | $ | — | Private Placement Warrants | | $ | — | | $ | 293,000 | | $ | — |
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| Schedule of fair value hierarchy for liabilities measured at fair value on a recurring basis |
| | | | | | Warrant Liabilities | Level 2 Derivative warrant liabilities as of December 31, 2023 | | $ | 293,000 | Change in fair value of Private Placement Warrant liability | | | 2,046,000 | Transfer of Public Warrant liability to Level 2 | | | 2,300,000 | Level 2 Derivative warrant liabilities as of December 31, 2024 | | | 4,639,000 | Change in fair value of warrant liabilities | | | (58,900) | Level 2 Derivative warrant liabilities as of March 31, 2025 | | $ | 4,580,100 |
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| | | | | | Warrant Liabilities | Level 2 Derivative warrant liabilities as of December 31, 2023 | | $ | 293,000 | Change in fair value of Private Placement Warrant liability | | | 2,046,000 | Transfer of Public Warrant liability to Level 2 | | | 2,300,000 | Level 2 Derivative warrant liabilities as of December 31, 2024 | | $ | 4,639,000 |
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| Schedule of changes in fair value of warrant liabilities |
| | | | | | | | | | | | For the Three Months Ended March 31, 2025 | | | | | Private | | | | | | Public | | Placement | | Warrant | | | Warrants | | Warrants | | Liability | Derivative warrant liabilities as of December 31, 2024 | | $ | 2,300,000 | | $ | 2,339,000 | | $ | 4,639,000 | Change in fair value | | | (29,900) | | | (29,000) | | | (58,900) | Derivative warrant liabilities as of March 31, 2025 | | $ | 2,270,100 | | $ | 2,310,000 | | $ | 4,580,100 |
| | | | | | | | | | | | For the Three Months Ended March 31, 2024 | | | | | Private | | | | | | Public | | Placement | | Warrant | | | Warrants | | Warrants | | Liability | Derivative warrant liabilities as of December 31, 2023 | | $ | 287,500 | | $ | 293,000 | | $ | 580,500 | Change in fair value | | | (221,950) | | | (226,000) | | | (447,950) | Derivative warrant liabilities as of March 31, 2024 | | $ | 65,550 | | $ | 67,000 | | $ | 132,550 |
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| | | | | | | | | | | | | | | | | Private | | | | | Share | | | Public | | Placement | | Warrant | | Redemptions | | | Warrants | | Warrants | | Liability | | Payable | Derivative warrant liabilities as of December 31, 2022 | | | 261,050 | | | 266,000 | | | 527,050 | | | — | Establishment of share repurchase liability | | | — | | | — | | | — | | | 197,694,657 | Share repurchase payment | | | — | | | — | | | — | | | (197,694,657) | Change in fair value | | | 26,450 | | | 27,000 | | | 53,450 | | | — | Derivative warrant liabilities as of December 31, 2023 | | | 287,500 | | | 293,000 | | | 580,500 | | | — | Change in fair value | | | 2,012,500 | | | 2,046,000 | | | 4,058,500 | | | — | Derivative warrant liabilities as of December 31, 2024 | | $ | 2,300,000 | | $ | 2,339,000 | | $ | 4,639,000 | | $ | — |
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| Schedule of quantitative information regarding Level 3 fair value measurements inputs |
| | | | | | | | | | March 31, | | Inputs: | | 2025 | | 2024 | | Common stock price | | $ | 11.36 | | $ | 10.80 | | Exercise price | | $ | 11.50 | | $ | 11.50 | | Risk-free rate of interest | | | 3.94 | % | | 4.16 | % | Volatility | | | 0.00 | % | | 0.00 | % | Term | | | 5.24 | | | 5.71 | | Warrant to buy one share | | $ | 0.01 | | $ | 0.01 | | Dividend yield | | | 0.00 | % | | 0.00 | % |
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| | | | | | | | | | | December 31, | | Inputs: | | | 2024 | | | 2023 | | Common stock price | | $ | 11.14 | | $ | 10.64 | | Exercise price | | $ | 11.50 | | $ | 11.50 | | Risk-free rate of interest | | | 4.37 | % | | 3.81 | % | Volatility | | | 0.00 | % | | 0.00 | % | Term | | | 5.75 | | | 5.21 | | Warrant to buy one share (adjusted for the probability of dissolution) | | $ | 0.20 | | $ | 0.03 | | Dividend yield | | | 0.00 | % | | 0.00 | % |
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| Schedule of quantitative information regarding Level 3 fair value measurements inputs date |
| | | | | | | | | | | | | | | | | | | | | | | | | June 9, | | September 30, | | October 11, | | November 14, | | December 13, | | January 12, | | February 12, | | Inputs: | | 2023 | | 2023 | | 2023 | | 2023 | | 2023 | | 2024 | | 2024 | | Common stock price | | $ | 10.54 | | $ | 10.56 | | $ | 10.57 | | $ | 10.60 | | $ | 10.62 | | $ | 10.65 | | $ | 10.73 | | Estimated probability of an Initial Business Combination | | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | Estimated volatility | | | 76.56 | % | | 65.96 | % | | 64.90 | % | | 63.91 | % | | 65.52 | % | | 66.02 | % | | 64.40 | % | Risk-free rate | | | 5.10 | % | | 5.39 | % | | 5.31 | % | | 5.17 | % | | 4.88 | % | | 4.60 | % | | 4.88 | % | Time to expiration | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | June 9, | | September 30, | | October 11, | | November 14, | | December 13, | | January 12, | | February 12, | | Inputs: | | 2023 | | 2023 | | 2023 | | 2023 | | 2023 | | 2024 | | 2024 | | Common stock price | | $ | 10.54 | | $ | 10.56 | | $ | 10.57 | | $ | 10.60 | | $ | 10.62 | | $ | 10.65 | | $ | 10.73 | | Estimated probability of an Initial Business Combination | | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | | 10.00 | % | Estimated volatility | | | 76.56 | % | | 65.96 | % | | 64.90 | % | | 63.91 | % | | 65.52 | % | | 66.02 | % | | 64.40 | % | Risk-free rate | | | 5.10 | % | | 5.39 | % | | 5.31 | % | | 5.17 | % | | 4.88 | % | | 4.60 | % | | 4.88 | % | Time to expiration | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | | | 1.00 | |
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