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COMMON STOCK WARRANT LIABILITY (Tables)
 9 Months Ended
Sep. 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 was as follows:

September 30, 2024December 31, 2023
Fair value of Private Placement Warrants per share
$0.74 $1.21 
The level 3 fair value inputs used in the Black-Scholes option pricing models were as follows:
September 30, 2024December 31, 2023
Volatility95.0 %85.0 %
Expected term (in years)1.82.6
Risk-free rate3.7 %4.1 %
Dividend yield— %— %
The level 3 fair value inputs used in the valuation of the derivative liabilities associated with the Redeemable Convertible Preferred Stock were as follows:
September 30, 2024
Series A
Derivative Liability
Series B
Derivative Liability
Volatility
40.0 %40.0 %
Credit spread
20.9 %20.9 %
Stock price
$3.53$3.53
Term (in years)
4.54.9
Risk-free rate
3.6 %3.6 %