REDEEMABLE CONVERTIBLE PREFERRED STOCK (Tables)

6 Months Ended

Jun. 30, 2025

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 was as follows:

	June 30, 2025		December 31, 2024
Fair value of Private Placement Warrants per share	$	0.03	$	0.44

	June 30, 2025		December 31, 2024
Volatility	80.0	%	95.0	%
Expected term (in years)	1.1		1.6
Risk-free rate	3.9	%	4.2	%
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:

	June 30, 2025						December 31, 2024
	Series A Derivative Liability			Series B Derivative Liability			Series A Derivative Liability			Series B Derivative Liability
Volatility	40.0		%	40.0		%	40.0		%	40.0		%
Credit spread	24.5		%	24.5		%	17.9		%	17.9		%
Stock price	$	2.11		$	2.11		$	3.02		$	3.02
Term (in years)	3.7			4.1			4.2			4.6
Risk-free rate	3.7		%	3.7		%	4.3		%	4.4		%