Derivative Liabilities |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Derivative Liabilities [Abstract] | |
| Derivative Liabilities | Note 8 — Derivative Liabilities
July Investment Agreement Derivative
The single, compound embedded derivative relating to the financial instruments provided pursuant to the July 2024 investment agreement with an existing holder of the Company’s convertible preferred units (the “July Investment Agreement Derivative”) was re-measured to fair value of $65,803,887 and $53,231,638 at March 31, 2025 and December 31, 2024, respectively (see Note 10). For the three months ended March 31, 2025 and for the period from February 8, 2024 (inception) to March 31, 2024, change in fair value of July Investment Agreement Derivative of $12,572,249 and , respectively, were recorded as a component of other income (expense) on the accompanying statement of operations.
Convertible Preferred Unit Issuance
At issuance date, the additional share allocation issuance obligations provided pursuant to the terms of certain of the Company’s convertible preferred units (the “CPU Share Allocation Obligation”) was measured at fair value of $4,703,536 and re-measured to fair value of $4,742,696 (see Note 10), respectively. For the three months ended March 31, 2025 and for the period from February 8, 2024 (inception) to March 31, 2024, a day one loss on issuance of CPU Share Allocation Obligations of $403,536 and $0, respectively, were recorded as a component of other income (expense) on the accompanying statement of operations. |