COMMON STOCK WARRANT LIABILITY (Tables)

6 Months Ended

Jun. 30, 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:

	June 30, 2024		December 31, 2023
Fair value of Private Placement Warrants per share	$	0.43	$	1.21

The level 3 fair value inputs used in the Black-Scholes option pricing models were as follows:

	June 30, 2024		December 31, 2023
Volatility	90.0	%	85.0	%
Expected term (in years)	2.1		2.6
Risk-free rate	4.6	%	4.1	%
Dividend yield	—	%	—	%

The level 3 fair value inputs used in the valuation of the derivative liability were as follows:

	June 30, 2024
Volatility	40		%
Credit spread	31.5		%
Stock price	$	2.61
Term (in years)	4.75
Risk-free rate	4.4		%