The following tables summarize the Company’s 5-Year Private Warrants(1) (in thousands, except warrant amounts):


Balance at			Fair Value			Transfers to			Balance at
December 31, 2024			Adjustments(1)			5-Year Public Warrants			March 31, 2025
Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount
670,600	$	6	—	$	(5)	—	$	—	670,600	$	1


Balance at			Fair Value			Transfers to			Balance at
December 31, 2023			Adjustments(1)			5-Year Public Warrants			March 31, 2024
Warrants	Amount		Warrants	Amount		Warrants	Amount		Warrants	Amount
865,422	$	26	—	$	(5)	—	$	—	865,422	$	21

(1)Liability classified warrants are subject to fair value remeasurement at each balance sheet date in accordance with ASC Topic 815-40, Contracts on Entity’s Own Equity. As a result, fair value adjustments related exclusively to the Company’s liability classified warrants. See Note 8 – Fair Value Measurements for additional information on the fair value of the Company’s liability classified warrants.

The following table summarizes additional information on the Company’s 5-Year Private Warrants as of March 31, 2025:

Exercise Price

Exercise Period

Expiration Date

Warrants Outstanding

11.50

5 years

May 29, 2025

670,600

The following tables summarize the Company’s outstanding equity classified warrants included in Additional paid-in capital:


	Balance at December 31, 2024			Transfers from 5-Year Private Warrants				Balance at March 31, 2025

	Warrants	Amount			Warrants	Amount			Warrants	Amount
5-Year Public Warrants	33,619,298	$	29,554		—	$	—		33,619,298	$	29,554
Public Offering Warrants	9,583,334	12,938			—	—			9,583,334	12,938
Private Placement Offering Warrants	46,816,480	25,604			—	—			46,816,480	25,604
Total	90,019,112	$	68,096		—	$	—		90,019,112	$	68,096


	Balance at December 31, 2023			Transfers from 5-Year Private Warrants			Balance at March 31, 2024
	Warrants	Amount		Warrants	Amount		Warrants	Amount
5-Year Public Warrants	33,424,476	$	29,539	—	$	—	33,424,476	$	29,539
Public Offering Warrants	9,583,334	12,938		—	—		9,583,334	12,938
Private Placement Offering Warrants	46,816,480	25,604		—	—		46,816,480	25,604
Total	89,824,290	$	68,081	—	$	—	89,824,290	$	68,081

The following table summarizes additional information on the Company’s outstanding warrants as of March 31, 2025:


	Exercise price		Exercise period	Expiration date	Warrants outstanding
5-Year Public Warrants	$	11.50	5 years	May 29, 2025	33,619,298
Public Offering Warrants	$	10.50	5 years	October 6, 2025	9,583,334
Private Placement Offering Warrants	$	1.068	5 years	March 15, 2027	46,816,480