Merger Transaction (Tables)

3 Months Ended

Mar. 31, 2025

Merger Transaction [Abstract]

Schedule of Business Combination

The below summarizes the total consideration transferred in the business combination (in thousands):

Fair value of common stock	$	10,939
Fair value of warrants		3,250
Fair value of preferred stock		11,302
Fair value of debt assumed		114
Total consideration	$	25,605

Schedule of Warrant Level 3 Inputs Valuation

Significant inputs related to these warrants are as follows:

Fair value of common stock	$	5.27
Exercise price	$	5.13
Expected term		4.76 years
Volatility		146	%
Risk-free interest rate		4.2	%
Dividend yield		—	%

Schedule of Summarizes the Purchase Price Allocations

The following table summarizes the purchase price allocations relating to the XTI Merger (in thousands):

Assets acquired
Cash and cash equivalents	$	2,968
Accounts receivable		696
Notes and other receivables		7,929
Inventory		3,283
Prepaid assets and other current assets		756
Property and equipment		246
Other assets		1,202
Warrant assets		448
Tradename & trademarks		913
Proprietary technology		2,934
Customer relationships		702
In process research and development		243
Goodwill		12,398
		34,718
Liabilities assumed
Accounts payable		2,675
Accrued liabilities		4,282
Operating lease obligation		299
Deferred revenue		824
Short-term debt		114
Warrant liability		919
Total liabilities assumed		9,113
Estimated fair value of assets acquired	$	25,605