v3.26.1
Warrants
 6 Months Ended
Jun. 30, 2026
Warrants and Rights Note Disclosure [Abstract]  
Warrants
Note 5 — Warrants
There were 7,568,870 and 8,987,062 warrants outstanding as of June 30, 2026 and December 31, 2025, respectively. There were no changes in the number of warrants outstanding for the three and six months ended June 30, 2025. The table below reflects warrant activity during the three and six months ended June 30, 2026:
Private Placement WarrantsWorking Capital WarrantsTotal
Outstanding Warrants as of December 31, 20255,680,692 3,306,370 8,987,062 
Expired(1,418,192)— (1,418,192)
Outstanding Warrants as of June 30, 20264,262,500 3,306,370 7,568,870 
There were no warrants exercised during the three and six months ended June 30, 2026 and 2025.
The Private Placement Warrants and Working Capital Warrants outstanding as of June 30, 2026 and December 31, 2025 are accounted for as liabilities and remeasured at fair value each reporting period, with changes in fair value recognized as Changes in fair value of warrant liabilities in the unaudited condensed consolidated statements of operations. Refer to Note 8 — Fair Value Measurements for additional information.