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Fair Value Measurements (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Fair Value Measurements [Abstract]    
Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

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:

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

  

$

—

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

  

$

—
The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023 and 2022 and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:

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

  

$

—

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

  

$

244,314,622

  

$

—

  

$

—

Liabilities:

  

 

    

 

    

 

  

Derivative liabilities – public warrants

  

$

—

  

$

49,200

  

$

—

Derivative liabilities – private warrants

  

$

—

  

$

35,690

  

$

—
Schedule of Fair Value was Adjusted for the Market Implied Likelihood of Completing a Business Combination   The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates: June 30, 2022 and March 31, 2022:
 

June 30,
2022

  

March 31,
2022

Exercise price

  

$

11.50

 

  

$

11.50

 

Stock price

  

$

9.82

 

  

$

9.80

 

Volatility

  

 

2.0

%

  

 

5.0

%

Risk-free rate

  

 

3.02

%

  

 

2.42

%

Dividend yield

  

 

0.0

%

  

 

0.0

%
Schedule of Fair Value was Adjusted for the Market Implied Likelihood of Completing a Business Combination   The fair value was adjusted for the market implied likelihood of completing a business combination. The key inputs are summarized below:

Valuation Date

  

Common
Stock
Price

  

Probability of
completing
BC

  

Maximum
Term
yrs

  

Risk Free
Rate

  

Implied
Volatility

3/29/2023

  

$

10.35

  

14.00

%

  

3.74

  

3.74

%

  

2.90

%

3/31/2023

  

$

10.22

  

14.00

%

  

3.73

  

3.68

%

  

3.50

%

6/30/2023

  

$

10.43

  

14.00

%

  

3.48

  

3.74

%

  

2.30

%
Schedule of Changes in Fair Value  

Description

  

Carrying
Value at
March 29,
2023

  

Change in
Fair value

  

Carrying
Value at
December 31,
2023

Liabilities:

  

 

    

 

    

 

  

Forward Purchase Agreement

  

$

86,369

  

$

(86,369)

  

$

—