Warrants

6 Months Ended

Jun. 30, 2025

Warrants and Rights Note Disclosure [Abstract]

12. Warrants

All outstanding common stock warrants were exercisable immediately when granted and are exercisable for shares of Class A common stock. The Company’s common stock warrants outstanding were as follows:


		Number of Warrants Outstanding as of:
Exercise Price		June 30, 2025		December 31, 2024
$	0.0001		11,250,000		—
	9.03		969,275		969,275
	10.84		946,666		946,666
	12.38		8,083		8,083
	20.77		722,223		722,223
			13,896,247		2,646,247

On February 12, 2025, as part of the February 2025 Offering, the Company issued Pre-Funded Warrants to purchase up to 11,250,000 shares of the Company’s Class A common stock at an offering price of $3.9999 per Pre-Funded Warrant, which represents the per share offering price for the Firm Shares less the $0.0001 per share exercise price for each Pre-Funded Warrant. See Note 10—Capital Structure for additional information.