Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.24.3
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Measurements [Abstract]  
Schedule of Company’s Assets that are Measured at Fair Value The following tables present information about the Company’s assets 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)
 
Liabilities:                  
Non-redemption agreements derivative liability   $
    $
    $ 8,229,757  

 

December 31, 2023
Description   Quoted
Prices in
Active
Markets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Other
Unobservable
Inputs
(Level 3)
 
Liabilities:                  
Non-redemption agreements derivative liability   $
    $
    $ 6,646,080  
Schedule of Non-Redemption Agreements Derivative Liability The key inputs into the monte-carlo simulation model for the Non-Redemption Agreements derivative liability were as follows:
Input   June 30,
2024
    May 17,
2024
    December 31,
2023
 
Market price of Class A common stock   $ 10.85     $ 10.82       10.72  
Risk-free rate     4.94 %     4.98 %     4.56 %
Volatility     30.8 %     34.8 %     39.9 %
Term     1.39       1.51       1.41  
Probability of successful business combination     50.0 %     50.0 %     50.0 %
Discount for lack of marketability     7.6 %     9.0 %     9.9 %
Threshold price   $ 12.00     $ 12.00       12.00  
Schedule of Table Presents the Changes in the Fair Value of the Non-Redemption Agreements The following table presents the changes in the fair value of the Non-Redemption Agreements derivative liability:
Fair value as of December 31, 2023   $ 6,646,080  
Change in valuation inputs or other assumptions     247,680  
Fair value as of March 31, 2024     6,893,760  
Initial fair value of non-redemption agreement dated May 17, 2024     1,311,997  
Change in valuation inputs or other assumptions     24,000  
Fair value as of June 30, 2024 (As Restated)   $ 8,229,757