REDEEMABLE CONVERTIBLE PREFERRED STOCK (Tables)

6 Months Ended

Jun. 30, 2024

Temporary Equity Disclosure [Abstract]

Schedule of Significant Inputs Used in the Valuation of the Derivative Liability

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		%