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Fair Value Measurements
 6 Months Ended
Jun. 30, 2024
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 9 - Fair Value Measurements

 

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023 and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:

 

June 30, 2024

 

Description  Quoted
Prices in
Active
Markets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Other
Unobservable
Inputs
(Level 3)		 
Assets:            
Investments held in Trust Account—Money Market Funds  $5,876,353   $
—
   $
       —
 
Liabilities:               
Derivative liabilities-public warrants  $
—
   $468,000   $
—
 
Derivative liabilities-private warrants  $
—
   $339,300   $
—
 

 

December 31, 2023

 

Description  Quoted
Prices in
Active
Markets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Other
Unobservable
Inputs
(Level 3)		 
Assets:            
Investments held in Trust Account—U.S. Treasury Securities  $10,664,690   $
—
   $
        —
 
Liabilities:               
Derivative liabilities-public warrants  $
—
   $361,200   $
—
 
Derivative liabilities-private warrants  $
—
   $261,890   $
—
 

 

Transfers to/from Levels 1, 2, and 3 are recognized at the beginning of the reporting period. The estimated fair value of the Public Warrants transferred from a Level 3 measurement to a Level 1 fair value measurement on October 1, 2021 because the Public Warrants were separately listed and traded in an active market. The estimated fair value of the Public Warrants transferred from a Level 1 measurement to a Level 2 fair value measurement in September 2022, due to the limited trading activity of the Public Warrants at September 30, 2022 through December 31, 2023. The Private Placement Warrants were transferred from a Level 3 measurement to a Level 2 measurement in September 2022, as the Public and Private Placement Warrants are viewed as economically equivalent. There were no transfers to/from Levels 1, 2, and 3 during the period ended June 30, 2024.

 

Level 1 assets include investments in U.S. Treasury securities. The Company uses inputs such as actual trade data, benchmark yields and quoted market prices from dealers or brokers.