Fair Value Measurements (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
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| Fair Value Measurements [Abstract] |
|
| Schedule of Company Assets and Liabilities Measured at Fair Value on a Recurring Basis |
December 31, 2024
| | |
Quoted
Prices in | | |
Significant
Other | | |
Significant
Other | |
| | |
Active
Markets | | |
Observable
Inputs | | |
Unobservable
Inputs | |
| Description | |
(Level 1) | | |
(Level 2) | | |
(Level 3) | |
| Assets: | |
| | |
| | |
| |
| Investments held in Trust Account - U.S. Treasury Securities | |
$ | 5,285,060 | | |
$ | — | | |
$ | — | |
| Liabilities: | |
| | | |
| | | |
| | |
| Contingently issuable private placement warrants | |
$ | — | | |
$ | 4,600 | | |
$ | — | |
| Derivative liabilities- Public Warrants | |
$ | 46,000 | | |
$ | — | | |
$ | — | |
| Derivative liabilities- Private Placement Warrants | |
$ | — | | |
$ | 42,200 | | |
$ | — | |
December 31, 2023
| | |
Quoted
Prices in | | |
Significant
Other | | |
Significant
Other | |
| | |
Active
Markets | | |
Observable
Inputs | | |
Unobservable
Inputs | |
| Description | |
(Level 1) | | |
(Level 2) | | |
(Level 3) | |
| Assets: | |
| | |
| | |
| |
| Investments held in Trust Account - U.S. Treasury Securities | |
$ | 45,356,234 | | |
$ | — | | |
$ | — | |
| Liabilities: | |
| | | |
| | | |
| | |
| Contingently issuable private placement warrants | |
$ | — | | |
$ | 5,865 | | |
$ | — | |
| Derivative liabilities- Public Warrants | |
$ | 58,650 | | |
$ | — | | |
$ | — | |
| Derivative liabilities- Private Placement Warrants | |
$ | — | | |
$ | 53,810 | | |
$ | — | |
|
| Schedule of Quantitative Information Regarding Level 2 Fair Value Measurements Inputs |
The following table provides quantitative information
regarding Level 2 fair value measurements inputs at December 31, 2024 measurement date for contingently issuable Private Placement Warrants
and Private Placement Warrants:
| Exercise price | |
$ | 11.50 | |
| Stock price | |
$ | 11.02 | |
| Term (years) | |
| 5.58 | |
| Volatility | |
| 6.0 | % |
| Risk-free rate | |
| 4.31 | % |
| Dividend yield | |
| 0.0 | % |
The following table provides quantitative information
regarding Level 2 fair value measurements inputs at December 31, 2023 measurement date (audited):
| Exercise price | |
$ | 11.50 | |
| Stock price | |
$ | 10.85 | |
| Term (years) | |
| 5.67 | |
| Volatility | |
| 6.0 | % |
| Risk-free rate | |
| 3.78 | % |
| Dividend yield | |
| 0.0 | % |
|
| Schedule of Change in the Fair Value of the Derivative Liabilities Measured Using Level 3 Inputs |
The change in the fair value of the derivative
liabilities – forward purchase agreement measured using Level 3 inputs for the year ended December 31, 2023, is summarized as follows:
| Derivative liabilities – forward purchase agreement at December 31, 2022 | |
$ | 342,235 | |
| Change in fair value of derivative liabilities - forward purchase agreement | |
| (10,707 | ) |
| Gain on extinguishment of forward purchase agreement | |
| (331,528 | ) |
| Derivative liabilities – forward purchase agreement at December 31, 2023 | |
$ | — | |
The change in the fair value of the derivative
liabilities – public and private placement warrants measured using Level 3 inputs for the year ended December 31, 2023 and 2024,
is summarized as follows:
| Derivative liabilities – public and private placement warrants at December 31, 2022 | |
$ | 2,205,000 | |
| Change in fair value of derivative warrant liabilities - public and Private Placement Warrants | |
| (2,092,540 | ) |
| Derivative liabilities – public and private placement warrants at December 31, 2023 | |
| 112,460 | |
| Change in fair value of derivative warrant liabilities - public and Private Placement Warrants | |
| (24,260 | ) |
| Derivative liabilities – public and private placement warrants at December 31, 2024 | |
$ | 88,200 | |
|
| Schedule of Change in the Fair Value of the Convertible Note Related Party Measured Using Level 3 Inputs |
The change in the fair value of the Convertible
Note – related party measured using Level 3 inputs the year ended December 31, 2023, is summarized as follows:
| Convertible note - related party at December 31, 2022 | |
$ | 1,431,546 | |
| Additional issuance of convertible note - related party | |
| 851,899 | |
| Capital contribution from CBG - forgiveness of additional convertible note | |
| (1,201,899 | ) |
| Conversion to contingently issuable derivative liabilities | |
| (1,150,000 | ) |
| Loss on conversion of note to contingently issuable private placement warrants | |
| 69,293 | |
| Change in fair value of convertible note - related party | |
| (839 | ) |
| Convertible note - related party at December 31, 2023 | |
$ | — | |
|
| Schedule of Change in the Fair Value of the Contingently Issuable Private Placement Warrants Measured Using Level 3 Inputs |
The change in the fair value of the Contingently
issuable private placement warrants measured using Level 3 inputs for the year ended December 31, 2023 and 2024, is summarized as follows:
| Contingently issuable private placement warrants at December 31, 2022 | |
$ | — | |
| Conversion from Convertible Note – related party to Contingently issuable private placement warrants | |
| 1,150,000 | |
| Change in fair value of contingently issuable private placement warrants | |
| (1,144,135 | ) |
| Contingently issuable private placement warrants at December 31, 2023 | |
| 5,865 | |
| Change in fair value of contingently issuable private placement warrants | |
| (1,265 | ) |
| Contingently issuable private placement warrants at December 31, 2024 | |
$ | 4,600 | |
|