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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fairvalue Assets And Liabilities Measured On Recurring And Nonrecurring Basis

The following tables present information about the Company’s financial liabilities that are measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, by level within the fair value hierarchy:

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 - U.S. Treasury Securities (1)		$	24,663,767			$	—			$	—
Liabilities:
Derivative warrant liabilities - Public Warrants		$	—			$	473,930			$	—
Derivative warrant liabilities - Private Warrants		$	—			$	—			$	432,700

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 (1)		$	67,545,266			$	—			$	—
Liabilities:
Derivative warrant liabilities - Public Warrants		$	—			$	473,930			$	—
Derivative warrant liabilities - Private Warrants		$	—			$	—			$	432,700

(1) Includes $51,051 and $859 of cash balance held within the Trust Account as of June 30, 2024 and December 31, 2023, respectively.

Schedule of Fair Value Measurement Inputs and Valuation

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates of June 30, 2024 and December 31, 2023:

		As of June 30, 2024				As of December 31, 2023
Exercise price		$	11.50			$	11.50
Stock price		$	10.72			$	10.60
Volatility			5.4	%			5.1	%
Risk-free rate			4.24	%			3.77	%
Dividend yield			0.0	%			0.0	%

Schedule of Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The changes in the Level 3 fair value of the derivative warrant liabilities for the three and six months ended June 30, 2024 and 2023 are summarized as follows:

Balance as of December 31, 2023 - Level 3		$	432,700
Change in fair value of derivative warrant liabilities - Private Warrants			—
Balance as of March 31, 2024 - Level 3			432,700
Change in fair value of derivative warrant liabilities - Private Warrants			—
Balance as of June 30, 2024 - Level 3		$	432,700
Balance as of December 31, 2022 - Level 3		$	1,182,710
Change in fair value of derivative warrant liabilities - Private Warrants			(288,470	)
Balance as of March 31, 2023 - Level 3			894,240
Change in fair value of derivative warrant liabilities - Private Warrants			(432,690	)
Balance as of June 30, 2023 - Level 3		$	461,550

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
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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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Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ References

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