Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assumptions The table below presents the fair value per warrant and the valuation assumptions under the Black-Scholes OPM:
June 30, 2024 December 31, 2023
Fair value per share $ 1.73  $ 0.43 
Warrants outstanding 7,732,168  7,732,168 
Exercise price $ 11.50  $ 11.50 
Common stock price $ 7.17  $ 2.85 
Expected option term 2.18 years 2.67 years
Expected volatility 62.30  % 74.20  %
Risk-free rate of return 4.68  % 4.00  %
Expected annual dividend yield —  % —  %
Schedule of Liabilities Measured at Fair Value
The table below presents the Company’s financial instruments measured at fair value on a recurring basis:
  June 30, 2024
  Balance Sheet Location Level 1 Level 2 Level 3 Total
Liabilities:
Private warrants Warrant liabilities $ —  $ —  $ 13,377  $ 13,377 
Total liabilities $ —  $ —  $ 13,377  $ 13,377 
December 31, 2023
Balance Sheet Location Level 1 Level 2 Level 3 Total
Assets:
Committed equity facility Prepaid expenses and other current assets $ —  $ —  $ —  $ — 
Total assets $ —  $ —  $ —  $ — 
Liabilities:
Private warrants Warrant liabilities $ —  $ —  $ 3,325  $ 3,325 
Total liabilities $ —  $ —  $ 3,325  $ 3,325 
Changes in the Fair Value of Level 3 Financial Liabilities
There were no changes in the fair value of Level 3 financial assets during the six months ended June 30, 2024. Changes in the fair value of Level 3 financial liabilities were as follows:
Liabilities: Private
Warrants		 Total
Level 3
December 31, 2023 $ 3,325  $ 3,325 
Changes in fair value
 10,052  10,052 
June 30, 2024 $ 13,377  $ 13,377