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Fair Value Measurements (Tables)

9 Months Ended

Jul. 31, 2024

Convertible Debentures Embedded Derivative Liabilities

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

Summary of Change in Estimated Fair Value of Liabilities

The following table provides a summary of the change in the estimated fair value of the Company’s convertible debentures embedded derivative liabilities for three and nine months ended July 31, 2023.

		Total
Balance as of October 31, 2022		$	3,791
Change in fair value of convertible debenture embedded    derivative liabilities			307
Foreign exchange (gain)/loss			5
Balance as of January 31, 2023			4,103
Change in fair value of convertible debenture embedded    derivative liabilities			(625	)
Foreign exchange (gain)/loss			(4	)
Balance as of April 30, 2023		$	3,474
Change in fair value of convertible debenture embedded    derivative liabilities			(435	)
Foreign exchange (gain)/loss			15
Balance as of July 31, 2023		$	3,054

May 2023 Notes

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

Assumptions Used to Determine Fair Value of Liabilities

The assumptions that the Company used to determine the fair value of the May 2023 Notes as of the issuance date and as of July 31, 2023 are as follows:

		As Of				As Of
		31-Jul-23				Issuance Date
Probability of qualified financing*			75	%			60	%
Volatility			85	%			85	%
Class C Preferred Share Price (CAD)		$	2.074			$	2.074
Liquidity price at conversion of listing event**		$	8.42			$	8.42
Fair value of common share at conversion of listing event**		$	10.25			$	10.25
Discount rate			38.70	%			40.80	%
Expected time to respective scenarios		0.2 years				0.3 years

* The probability represents the cumulated probabilities of conversion at various dates before maturity. The probability includes the probability of a SPAC transaction (which corresponds to a listing event for the 2023 Notes).

** The liquidity price at the conversion of a listing event represents the conversion price of the 2023 Notes upon the business combination with FEAC, and the fair value per common share at conversion of a listing event represents the price per share of the Newco upon the business combination with FEAC, as set forth in the business combination agreement.

Summary of Change in Estimated Fair Value of Liabilities

The following table provides a summary of the change in the estimated fair value of the Company’s 2023 Notes for the three and nine months ended July 31, 2023 as follows:

		Total
Balance as of October 31, 2022		$	—
Issuance of May 2023 Notes			37,044
Change in fair value of convertible debentures			2,941
Balance as of July 31, 2023		$	39,985

Preferred Share Warrant Liabilities

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

Summary of Change in Estimated Fair Value of Liabilities

The following table provides a summary of the change in the estimated fair value of the Company’s warrant liabilities for the three and nine months ended July 31, 2023:

		Total
Balance as of October 31, 2022		$	11,456
Change in fair value of warrant liabilities			1,185
Foreign exchange (gain)/loss			217
Balance as of January 31, 2023			12,858
Change in fair value of warrant liabilities			341
Foreign exchange (gain)/loss			(196	)
Balance as of April 30, 2023		$	13,003
Warrant liability recognized upon 2023 Financing			1,420
Change in fair value of warrant liabilities			(5,521	)
Foreign exchange (gain)/loss			400
Balance as of July 31, 2023		$	9,302

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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.

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