v3.26.1
Fair Value Measurements (Tables)
12 Months Ended
May 31, 2026
Fair Value Measurements [Abstract]  
Schedule of Fair Value Hierarchy of the Valuation Inputs the Company Utilized to Determine such Fair Value

The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of May 31, 2026, and May 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

Description   Amount at Fair Value     Level 1     Level 2     Level 3  
May 31, 2026                                
Liabilities                                
Public Warrant Liabilities   $ 8,569     $ 8,569              
Other Warrants Liabilities   $ 456     $     $     $ 456  
Total   $ 9,025     $ 8,569     $     $ 456  

 

 

Description   Amount at Fair Value     Level 1     Level 2     Level 3  
May 31, 2025                                
Liabilities                                
Public Warrant Liabilities   $ 1,264     $ 1,264              
Other Warrant Liabilities   $ 3,224     $     $     $ 3,224  
Total   $ 4,488     $ 1,264     $     $ 3,224  
Schedule of Other Warrant Liabilities

Other Warrant Liabilities include the following two components:

 

    May 31,
2026
    May 31,
2025
 
General Warrant Liabilities   $ 34     $ 3,162  
Placement Warrant Liabilities   $ 422     $ 62  
Total Other Warrant Liabilities   $ 456     $ 3,224  
Schedule of Level 3 Fair Value Measurements Inputs The Company used the Black-Scholes model to value these warrants, and the following table provides quantitative information regarding Level 3 fair value measurement inputs related to these Warrant liabilities at their measurement dates:

 

    May 31,
2026
    May 31,
2025
 
Redemption Price (USD)   $ 0.75     $ 0.75  
Stock Price (USD)   $ 2.93     $ 1.06  
Volatility     101 %     76 %
Term (years)     3.23       4.20  
Risk-free rate     4.45 %     4.42 %

The following table provides quantitative information regarding Level 3 fair value measurements inputs related to the Forward Purchase Agreement at their measurement dates:

 

    November 1,
2024
    May 31,
2024
 
Redemption Price (USD)   $ 10.61     $ 10.61  
Stock Price (USD)   $ 0.28     $ 0.28  
Volatility     76 %     53 %
Term (years)     1.76       2.18  
Risk-free rate     4.40 %     4.51 %
Schedule of Change in the Fair Value of the Assets and Liabilities

The change in the fair value of the assets and liabilities, measured with Level 3 inputs, for the year ended May 31, 2026, and May 31, 2025, are summarized as follows:

 

    May 31,
2026
    May 31,
2025
 
Fair value of Warrant Liabilities - Opening   $ 3,224     $ 20,965  
Change in fair value of Forward Purchase Agreement           740  
Termination of Forward Purchase Agreement           (21,678 )
Additional Warrant Liabilities incurred           5,157  
Warrant Exercises     (6,263 )     (3,223 )
Change in fair value of Warrant Liabilities     3,495       1,263  
Fair value of Warrant Liabilities - Closing   $ 456     $ 3,224