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COMMON STOCK WARRANT LIABILITY (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Schedule of Fair Value of Private Placement Warrants and Level 3 Fair Value Inputs
The fair value of the Private Placement Warrants that are not subject to the contingent forfeiture provisions was estimated using a Black-Scholes option pricing model, and were as follows:

March 31, 2024December 31, 2023
Fair value of Private Placement Warrants per share
$0.60 $1.21 
The level 3 fair value inputs used in the Black-Scholes option pricing models were as follows:
March 31, 2024December 31, 2023
Volatility90.0 %85.0 %
Expected term (in years)2.32.6
Risk-free rate4.5 %4.1 %
Dividend yield— %— %
The level 3 fair value inputs used in the valuation of the derivative liability were as follows:
March 31, 2024
Volatility
40 %
Credit spread
28.5 %
Stock price
$2.85
Term (in years)
5
Risk-free rate
4.2 %