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Warrants (Tables)

3 Months Ended

Mar. 31, 2024

Warrant Disclosure [Abstract]

Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements

The following table provides quantitative assumptions regarding Level 3 fair value measurements:

		March 31, 2024				December 31, 2023
Stock price		$	3.64			$	1.51
Strike price		$	11.50			$	11.50
Term (in years)			1.9				2.1
Volatility			87.6	%			82.7	%
Risk-free rate			4.5	%			4.1	%
Dividend yield			0.0	%			0.0	%

Schedule of Fair Values for Outstanding Warrants

The Company determined the following fair values for the outstanding warrants (in thousands):

		March 31, 2024
Public Warrants		$	1,449
Private Placement Warrants			111
Forward Purchase Warrants			252
Total		$	1,812

Summary of Changes in liabilities classified in Level 3 of the fair value hierarchy

The following presents changes in liabilities classified in Level 3 of the fair value hierarchy for the three months ended March 31, 2024 (in thousands):

		Three Months Ended
		March 31, 2024
Beginning balance		$	15
Change in fair value of Private Warrants liability recognized in earnings			96
Ending balance		$	111

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- Definition

Warrant disclosure.

+ References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

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