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Fair Value Measurements
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Fair Value Measurements [Abstract]    
FAIR VALUE MEASUREMENTS

NOTE 14 — FAIR VALUE MEASUREMENTS

Items Measured at Fair Value on a Recurring Basis:

The Company accounts for certain liabilities at fair value on a recurring basis and classifies these liabilities within the fair value hierarchy (Level 1, Level 2, or Level 3).

Liabilities subject to fair value measurements are as follows:

  

September 30, 2024
   

Level 1

  

Level 2

  

Level 3

  

Total

Liabilities:

  

 

    

 

    

 

    

 

  

Warrant liabilities

  

$

690,000

  

$

—

  

$

—

  

$

690,000

The Company’s Public Warrants are traded on the Nasdaq. As such, the Warrant valuation is based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. The fair value of the Warrant liabilities is classified within Level 1 of the fair value hierarchy. There were no warrant liabilities as of December 31, 2023.

Note 8 — Recurring Fair Value Measurements

As of December 31, 2023 and 2022, marketable securities and cash held in Trust Account are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets.

The Company’s Public Warrants are traded on the Nasdaq. As such, the Public Warrant valuation is based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. The fair value of the Public Warrant liabilities is classified within Level 1 of the fair value hierarchy.

At December 31, 2023 and 2022, the Company considers the Private Warrants to be economically equivalent to the Public Warrants. As such, the valuation of the Public Warrants was used to value the Private Warrants. The fair value of the Private Warrant liabilities is classified within Level 2 of the fair value hierarchy.

The following tables presents fair value information as of December 31, 2023 and 2022 of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

 

December 31, 2023
   

Level 1

  

Level 2

  

Level 3

  

Total

Assets:

  

 

    

 

    

 

    

 

  

Cash held in Trust Account

  

$

16,018,732

  

$

—

  

$

—

  

$

16,018,732

Liabilities:

  

 

    

 

    

 

    

 

  

Public Warrants

  

 

552,000

  

 

—

  

 

—

  

 

552,000

Private Warrants

  

 

—

  

 

561,600

  

 

—

  

 

561,600

Total liabilities

  

$

552,000

  

$

561,600

  

$

—

  

$

1,113,600
 

December 31, 2022
   

Level 1

  

Level 2

  

Level 3

  

Total

Assets:

  

 

    

 

    

 

    

 

  

Marketable securities held in Trust
Account

  

$

285,506,568

  

$

—

  

$

—

  

$

285,506,568

Liabilities:

  

 

    

 

    

 

    

 

  

Public Warrants

  

$

394,680

  

$

—

  

$

—

  

$

394,680

Private Warrants

  

 

—

  

 

401,544

  

 

—

  

 

401,544

Total liabilities

  

$

394,680

  

$

401,544

  

$

—

  

$

796,224

There were no transfers to or from Levels 1, 2 or 3 for the year ended December 31, 2023 or 2022.