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Warrants (Tables)

12 Months Ended

Dec. 31, 2024

Warrants [Abstract]

Schedule of Fair Value of the Convertible Preferred Stock Warrant Liability

The following assumptions were used to calculate the fair value of the convertible preferred stock warrant liability as of December 31, 2023 under PWERM:

		December 31, 2023
Fair value of common stock(1)		$	4.08
Discount rate(2)			15	%
Probability(3)			10%—90	%
Exercise Price(4)		$	0.00—$4.35
Expected term (in years)(5)			0.50 years

(1) The fair value of Legacy Bolt Common Stock was determined by management with the assistance of an independent third-party valuation specialist.

(2) The discount rate was the expected rate of return and was determined by management with the assistance of an independent third-party valuation specialist.

(3) Scenario probability based on timing expectations of management that a qualified offering occurring as of December 31, 2023 was estimated at 90% and no qualified offering occurred was estimated at 10%.

(4) The warrants have varying exercise prices, with certain warrants having an exercise price higher than the value of the Company’s common shares at the time of valuation.

(5) The expected term represents the period of time that warrants granted are expected to be outstanding.

Schedule of Private Warrants Outstanding

The following table represents the Private Warrants outstanding as of December 31, 2024:

Issued Date

Exercise Price

Number of  shares

Expiration Date

Series A

January 2013

3.16792

12,626

January 2028

Series B

June 2015

11.49921

8,696

June 2030

Series E

July 2022

64.24741

15,564

July 2029

Total

36,886

The following table represents the convertible preferred stock warrants outstanding as of December 31, 2023:

Issued Date

Exercise Price

Number of shares

Expiration Date

Series A

January 2013

$

3.16792

12,626

January 2028

Series B

June 2015

11.49921

8,696

June 2030

Series C

July 2017

28.72761

5,865

July 2024

Series D

September 2017

54.38991

44,122

September 2024

Series E

July 2022

64.24741

15,564

July 2029

Total

86,873

Schedule of Monte Carlo Simulation Model to Value the Public Warrants

The key inputs for the Monte Carlo simulation model to value the Public Warrants at December 31, 2024 were as follows:

		December 31, 2024
Stock price		$	0.48
Exercise price		$	11.50
Redemption threshold		$	18.00
Effective expiration date			August 13, 2029
Term (years)			4.62
Volatility			80.4	%
Risk-free rate			4.27	%

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- Definition

Tabular disclosure of fair value of the convertible preferred stock warrant liability.

+ References

No definition available.

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

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