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Convertible note payable (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Outstanding Balance of Convertible Notes | The below table presents the outstanding balance of the Notes as of December 31, 2023:
|  |  | December 31, 2023
Principal Balance |  |  | $ | 80,000,000 |
Unamortized Discount |  |  | (11,961,220) |
Carrying Value |  |  | $ | 68,038,780 |
Assumptions used in Valuation Models to Determine the Estimated Fair of Convertible Notes | The following assumptions were used in the Binomial and Monte Carlo valuation models to determine the estimated fair value of the Notes at the issue date, March 30, 2023 and as of December 31, 2023.
| December 31, 2023 |  | March 30, 2023
Risk Free Interest Rate | 3.97 | % |  | 3.80 | %
Expected Volatility | 40 | % |  | 40 | %
Expected Dividend Yield | — | % |  | — | %
The Private Placement Warrants were valued using the following assumptions under the Monte Carlo method:
Inputs | December 31, 2024 |  | December 31, 2023
Current stock price | $ | 4.23 |  |  | $ | 8.43 |
Exercise price | $ | 11.50 |  |  | $ | 11.50 |
Expected life (in years) | 3.25 |  |  | 4.25 |
Risk-free interest rate | 4.30 | % |  | 4.00 | %
Expected volatility | 52 | % |  | 40 | %
Expected dividend yield | — | % |  | — | %

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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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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