v3.25.2
Warrants (Tables)
6 Months Ended
Jun. 30, 2025
Warrant Disclosure [Abstract]  
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements

The following table provides quantitative assumptions regarding Level 3 fair value measurements:

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Stock price

 

$

1.95

 

 

$

2.66

 

Strike price

 

$

11.50

 

 

$

11.50

 

Term (in years)

 

 

0.6

 

 

 

1.1

 

Volatility

 

 

183.5

%

 

 

137.5

%

Risk-free rate

 

 

4.2

%

 

 

4.1

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Schedule of Fair Values for Outstanding Warrants

The Company determined the following fair values for the outstanding warrants (in thousands):

 

 

 

June 30,
2025

 

Public Warrants

 

$

1,293

 

Private Placement Warrants

 

 

51

 

Forward Purchase Warrants

 

 

225

 

Consideration Warrants

 

 

781

 

Total

 

$

2,350

 

Summary of Changes in liabilities classified in Level 3 of the fair value hierarchy

The following presents changes in liabilities classified in Level 3 of the fair value hierarchy for the six months ended June 30, 2025 (in thousands):

 

 

Six Months Ended

 

 

June 30, 2025

 

Beginning balance

 

$

94

 

Change in fair value of Private Warrants liability recognized in earnings

 

 

(43

)

Ending balance

 

$

51