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REDEEMABLE CONVERTIBLE PREFERRED STOCK (Tables) | 9 Months Ended
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Sep. 30, 2024
Temporary Equity Disclosure [Abstract] |
Schedule of Significant Inputs Used in the Valuation of the Derivative Liability | The fair value of the Private Placement Warrants that are not subject to the contingent forfeiture provisions was estimated using a Black-Scholes option pricing model, and was as follows:
|  | September 30, 2024 |  | December 31, 2023
Fair value of Private Placement Warrants per share |  | $ | 0.74 |  |  | $ | 1.21 |
The level 3 fair value inputs used in the Black-Scholes option pricing models were as follows:
|  | September 30, 2024 |  | December 31, 2023
Volatility |  | 95.0 | % |  | 85.0 | %
Expected term (in years) |  | 1.8 |  | 2.6
Risk-free rate |  | 3.7 | % |  | 4.1 | %
Dividend yield |  | — | % |  | — | %
The level 3 fair value inputs used in the valuation of the derivative liabilities associated with the Redeemable Convertible Preferred Stock were as follows:
|  | September 30, 2024
|  | Series A Derivative Liability |  | Series B Derivative Liability
Volatility |  | 40.0 | % |  | 40.0 | %
Credit spread |  | 20.9 | % |  | 20.9 | %
Stock price |  | $ | 3.53 |  | $ | 3.53
Term (in years) |  | 4.5 |  | 4.9
Risk-free rate |  | 3.6 | % |  | 3.6 | %

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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