Fair Value Measurements (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Fair Value Disclosures [Abstract] |
|
| Schedule of Financial Instruments Recorded at Fair Value on a Recurring Basis |
The
following tables present the Company’s fair value hierarchy for its financial liabilities that are measured at fair value on a
recurring basis and indicate the level within the fair value hierarchy of the valuation techniques the Company utilized to determine
such fair value (in thousands):
Schedule of Financial Instruments Recorded at Fair Value on a Recurring Basis
| | |
| | | |
| | | |
| | | |
| | |
| | |
Fair
Value Measurements at September 30, 2026 | |
| | |
| Level
1 | | |
| Level
2 | | |
| Level
3 | | |
| Total | |
| Liabilities: | |
| | | |
| | | |
| | | |
| | |
| Warrant liability | |
| - | | |
| - | | |
| 30 | | |
| 30 | |
| Forward purchase derivative
liability | |
| - | | |
| - | | |
| 708 | | |
| 708 | |
| Liabilities | |
$ | - | | |
$ | - | | |
$ | 738 | | |
$ | 738 | |
| | |
| | | |
| | | |
| | | |
| | |
| | |
Fair
Value Measurements at December 31, 2025 | |
| | |
| Level
1 | | |
| Level
2 | | |
| Level
3 | | |
| Total | |
| Liabilities: | |
| | | |
| | | |
| | | |
| | |
| Warrant Liability | |
| - | | |
| - | | |
| 121 | | |
| 121 | |
| Forward purchase derivative
liability | |
| - | | |
| - | | |
| 9,692 | | |
| 9,692 | |
| Liabilities | |
$ | - | | |
$ | - | | |
$ | 9,813 | | |
$ | 9,813 | |
|
| Schedule of Change in Fair Value of Warrant Liability |
The
following table shows the change in the fair value of the warrant liability (in thousands):
Schedule of Change in Fair Value of Warrant Liability
| | |
Amount | |
| Balance as of
December 31, 2024 | |
$ | 945 | |
| Change in fair value of warrant
liabilities | |
| 26 | |
| Balance as of March 31, 2025 | |
| 971 | |
| Change
in fair value of warrant liabilities | |
$ | (122 | ) |
| Balance as of June 30, 2025 | |
| 849 | |
| Change
in fair value of warrant liabilities | |
| 1 | |
| Balance
as of September 30, 2025 | |
$ | 850 | |
| | |
Amount | |
| Balance as of
December 31, 2025 | |
$ | 121 | |
| Change in fair value of warrant
liabilities | |
$ | (59 | ) |
| Balance as of March 31, 2026 | |
| 62 | |
| Change in fair value of warrant
liabilities | |
| 10 | |
| Balance as of June 30, 2026 | |
| 72 | |
| Warrant liability, beginning balance | |
| 72 | |
| Change in fair value of warrant
liabilities | |
| (42 | ) |
| Balance
as of September 30, 2026 | |
$ | 30 | |
| Warrant liability, ending balance | |
$ | 30 | |
|
| Schedule of Reconciliation of Forward Purchase Derivative Liability |
Schedule of Reconciliation of Forward Purchase Derivative Liability
| | |
Amount | |
| Balance as of
December 31, 2025 | |
| 9,692 | |
| Change in fair value of forward
purchase derivative liabilities | |
| (1,588 | ) |
| Balance as of March 31, 2026 | |
| 8,104 | |
| Change in fair value of forward
purchase derivative liabilities | |
| (20 | ) |
| Balance as of June 30, 2026 | |
| 8,084 | |
| Adjustment to forward purchase
derivative liabilities on account of partial early termination of forward contract (Refer note 15) | |
| (9,588 | ) |
| Change in fair value of forward
purchase derivative liabilities | |
| 2,212 | |
| Balance as of September 30,
2026 | |
| 708 | |
|
| Schedule of Change in Fair Value of the Convertible Notes at Fair Value |
The
following table shows the change in the fair value of the Convertible Notes measured at Fair Value (in thousands):
Schedule of Change in Fair Value of the Convertible Notes at Fair Value
| | |
Related
party
Convertible Note
payable at fair
value | | |
January
2024 Convertible
Notes | | |
Total | |
| Balance as of
December 31, 2024 | |
$ | 6,524 | | |
$ | 8,986 | | |
$ | 15,510 | |
| Change in fair value of related
party convertible note, convertible notes at fair value | |
| (548 | ) | |
| (994 | ) | |
| (1,542 | ) |
| Balance
as of March 31, 2025 | |
$ | 5,976 | | |
$ | 7,992 | | |
$ | 13,968 | |
| Change in fair value of related
party convertible note, convertible notes at fair value | |
| 1,804 | | |
| 1,178 | | |
| 2,982 | |
| Balance
as of June 30, 2025 | |
| 7,780 | | |
| 9,170 | | |
| 16,950 | |
| Change in fair value of related
party convertible note, convertible notes at fair value | |
| (250 | ) | |
| 310 | | |
| 60 | |
| Balance
as of September 30, 2025 | |
| 7,530 | | |
| 9,480 | | |
| 17,010 | |
| | |
| | | |
| | | |
| | |
| Balance
as of December 31, 2025 | |
$ | - | | |
$ | - | | |
$ | - | |
| Convertible notes at fair value, beginning balance | |
| - | | |
| - | | |
| - | |
| Change in fair value of related
party convertible note, convertible notes at fair value | |
| - | | |
| - | | |
| - | |
| Balance
as of September 30, 2026 | |
$ | - | | |
$ | - | | |
$ | - | |
| Convertible notes at fair value, ending balance | |
$ | - | | |
$ | - | | |
$ | - | |
|