v3.25.4
Fair Value Measurements
12 Months Ended
Dec. 31, 2025
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 8 — Fair Value Measurements

 

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2025 and December 31, 2024, and it indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

December 31, 2025

 

Description  Quoted
Price in
Active
Market
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Other
Unobservable
Inputs
(Level 3)
 
Liabilities:            
Derivative warrant liabilities  $
-
   $
-
   $40 

December 31, 2024

 

Description  Quoted
Price in
Active
Market
(Level 1)
   Significant
Other
Observable
Inputs
(Level 2)
   Significant
Other
Unobservable
Inputs
(Level 3)
 
Liabilities:            
Derivative warrant liabilities  $
-
   $
-
   $40 

 

There were no transfers to/from Levels 1, 2, and 3 securities at the end of the reporting period. There was no change to the fair value of the warrants from 2023 to 2024 as the total value was deemed immaterial.

 

The following table   provides quantitative information regarding Level 3 fair value measurements inputs utilized to measure the fair value of the Private Placement Warrants at the measurement dates as of December 31, 2025 and December 31, 2024:

 

   December 31,
2025
   December 31,
2024
 
Volatility   25.0%   24.4%
Risk Free Rate   3.73%   1.42%
Estimated Term Remaining   6.50    4.27 

 

The change in the fair value of the derivative warrant liabilities for the year ended December 31, 2025 and 2024 respectively is summarized as follows:

 

Derivative warrant liabilities as of December 31, 2020  $117 
Change in fair value of derivative warrant liabilities  $(77)
Derivative warrant liabilities as of December 31, 2021  $40 
Change in fair value of derivative warrant liabilities  $
-
 
Derivative warrant liabilities as of December 31, 2022  $40 
Change in fair value of derivative warrant liabilities  $
-
 
Derivative warrant liabilities as of December 31, 2023  $40 
Change in fair value of derivative warrant liabilities  $
-
 
Derivative warrant liabilities as of December 31, 2024  $40 
    Change in fair value of derivative warrant liabilities   
-
 
Derivative warrant liabilities as of December 31, 2025  $40