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Fair Value Measurements | 12 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Note 20 - Fair Value Measurements As of March 31, 2024, the Company had financial instruments which were measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Significant changes in the inputs could result in a significant change in the fair value measurements. See each respective footnote for information on the assumptions used in calculating the fair value of financial instruments. The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis as of March 31, 2024 and March 31, 2023, including the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value. Summary of Liabilities Measured at Fair Value on a Recurring Basis
Summary of liabilities measured at fair value on a recurring basis |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2024 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Forward Purchase Agreement put option liability |  | $ | - |  |  | $ | - |  |  | $ | 10,244 |  |  | $ | 10,244 |
Public Warrants |  |  | 747 |  |  |  | - |  |  |  | - |  |  |  | 747 |
Private Placement Warrants |  |  | - |  |  |  | - |  |  |  | 620 |  |  |  | 620 |
Total liabilities |  | $ | 747 |  |  | $ |  |  |  | $ | 10,864 |  |  | $ | 11,611 |
March 31, 2023 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Forward Purchase Agreement put option liability |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Public Warrants |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Private Placement Warrants |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total liabilities |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
The initial fair value of the FPA put option liability at the Closing Date was $25,009, which is reported as a forward purchase agreement put option liability in our consolidated balance sheet. The change in the fair value of the forward purchase agreement put option liability of $14,765 has been recorded to change in fair value of forward purchase agreement put option liability for the year ended March 31, 2024, in the Company’s consolidated statements of operations. The forward purchase agreement put option liability was classified as a current liability, as its liquidation is reasonably expected to use or require current assets or the creation of current liabilities. See also Notes 2 and 18. The estimated fair value of the forward purchase agreement put option liability was calculated using a Monte Carlo model and used significant assumptions including the risk-free rate and volatility. The change in fair value of the forward purchase agreement put option liability is primarily driven by a decrease in the price per share of the Company. The valuation of the forward purchase agreement put option liability was made using the following assumptions as of March 31, 2024:
Schedule of purchase agreement |  |  |  |  |  |  |  |
|  | Year Ended March 31, |
|  | 2024 |  |  | 2024 |
Weighted Average Fair Value |  | 10,244 |
Expected Term (Years) |  |  | 0.60 |  |  |  | 0.60 |
Risk free Interest Rate |  |  | 5.10 | % |  |  | 5.10 | %
Volatility |  |  | 39.0 | % |  |  | 39.0 | %
Reference Price for one share of Class A common stock |  | $ | 10.69 |  |  |  | 2.21 |
Probability (Weight) - No Dilutive Offering Reset / With Dilutive Offering Reset due to PIPE transaction* |  |  | 5 | % |  |  | 95 | %
Fair Value of Forward Purchase Agreement Put Option Liability [in thousands] |  | $ | 40,880 |  |  |  | 8,631 |
Stock price at measurement date |  | $ | 2.6 |  |  |  | 2.6 |
*Note: | The private placement announced and completed on April 8, 2024 (estimated probability of 95% as of March 31, 2024). Quoted share price of common stock of the Company when PIPE (Private Investment in Public Entity) transaction took place was $2.21 approx.
Given that the Public Warrants have a listed price available, the Company classified them as Level 1. The Company has classified the privately placed warrants within Level 3 of the hierarchy as the fair value derived using the Black-Scholes option pricing model, which uses a combination of observable (Level 2) and unobservable (Level 3) inputs. There were no transfers between fair value levels during the year ended March 31, 2024. The valuation of the liability for the Private Placement Warrants was made using the following assumptions as of March 31, 2024:
Schedule of derivative contract assumptions |  |  |  |
Term (years) |  |  | 4.61 |
Risk-free interest rate |  |  | 5.10 | %
Volatility |  |  | 33.0 | %
Stock price at measurement date |  | $ | 2.6 |
The following table presents a summary of the changes in the fair value of Derivative Liabilities:
Summary of the changes in the fair value of derivative warrant liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Forward Purchase Agreement Put Option Liability |  |  | Public Warrant Liability |  |  | Private Placement Liability |  |  | Total |
Fair value at April 1, 2023 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Warrants and Forward Purchase Agreement put option liability acquired as part of Business Combination as at November 6, 2023 |  |  | 25,009 |  |  |  | 1,513 |  |  |  | 1,256 |  |  |  | 27,778 |
Change in fair value (gain) / loss |  |  | (14,765 | ) |  |  | (766 | ) |  |  | (636 | ) |  |  | (16,167 | )
Fair value as of March 31, 2024 |  | $ | 10,244 |  |  | $ | 747 |  |  | $ | 620 |  |  | $ | 11,611 |
Based on the expected VWAP as at inception as well as March 31, 2024 it is not expected that ATI would be required to issue additional Class A ordinary shares to certain vendors. On this basis, Fair value of the derivative financial instrument representing ATI’s obligation to issue additional Class A ordinary shares has been determined to be insignificant on initial recognition as well as at March 31, 2024 and accordingly the quantitative disclosures in relation to the fair value have not been provided.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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