Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Measurements [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2023 and 2022 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	December 31, 2023		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
Derivative Asset — Note Receivable	$	2,689,364			$	—	$	2,689,364
Liabilities:
Warrant Liability–Public Warrants		400,000	$	—		400,000		—
Warrant Liability–Private Placement Warrants		221,969		—		221,969		—
Working Capital Loans		675,934		—		—		675,934
Promissory Note-Related Party		491,502		—		—		491,502
Capital Contribution Note		2,200,291		—		—		2,200,291
Derivative Liability — Note Payable		2,689,364		—		—		2,689,364
Total	$	6,679,060	$	—	$	621,969	$	6,057,091

	December 31, 2022		Quoted Prices In Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets
Cash and investments held in Trust Account - Trading Securities	$	304,086,289	$	304,086,289	$	—	$	—
	$	304,086,289	$	304,086,289	$	—	$	—
Liabilities
Warrant Liability – Public Warrants	$	42,000	$	42,000	$	—	$	—
Warrant Liability – Private Placement Warrants		26,660		—		26,660		—
	$	68,660	$	42,000	$	26,660	$	—

Schedule of Valuation Key Inputs

The key inputs used in the Monte Carlo simulation for the Private Placement Warrants as of December 31, 2023 and 2022 were as follows:

Input	December 31, 2023			December 31, 2022
Public Warrant Price		0.040			0.004
Risk-free interest rate		5.17	%		4.74	%
Expected term (years)		5.13			5.31
Expected volatility		1.4	%		5.4	%
Stock price	$	11.13		$	10.09
Exercise price	$	11.50		$	11.50
Likelihood of Completing a Business Combination		60	%		50	%

The key inputs or weighted average inputs, as applicable, for discounted cash flow analysis at initial draw dates and December 31, 2023 were as follows:

Input	December 31, 2023			Initial Draw Dates (February 22, 2023 - December 28, 2023)
Risk-free interest rate for warrant		3.84	%		3.54-4.89	%
Risk-free interest rate for debt		5.54	%		4.82-5.60	%
Term of Debt Conversion (years)		0.13			0.32-0.14
Term of Warrant Conversion (years)		5.00			5.00-5.80
Expected volatility		1.4	%		0.1-4.1	%
Iterated/Market Stock price	$	11.13		$	10.20-11.13
Exercise price of Warrants	$	11.5		$	11.5
Strike Price of Debt Conversion	$	1.5		$	1.5
Likelihood of Completing a Business Combination		60	%		40-100	%

The key inputs or weighted average inputs, as applicable, for PWERM at December 31, 2023 and the initial draw dates of March 24, 2023 and May 24, 2023 were as follows:

Input	December 31, 2023			Initial Draws
Risk-free interest rate		5.50	%		4.6-4.84	%
Estimated Term (years)		0.13			0.72-1.34
Expected volatility		1.4	%		2.6-3.4	%
Iterated/Market Stock price	$	11.13		$	10.23-10.33
Likelihood of Completing a Business Combination		60	%		40	%
Consideration for the Capital Call(s)- in shares		300,000			300,000

Input	December 31, 2023			October 25, 2023
Risk-free interest rate		5.50	%		5.6	%
Estimated Term (years)		0.13			0.31
Expected volatility		38.1	%		35.5	%
Iterated/Market Stock price	$	11.13		$	10.95
Fair Value of 1.5% Shares of Crown		6,606,000			6,606,000
Exercise Price	$	750,000		$	750,000

Schedule of Promissory Notes

Activity for the year ended December 31, 2023 for the Convertible Promissory Notes (which include the $1.5 Million Convertible Promissory Note and the Extension Note) was as follows:

	Extension Note			Working Capital Loan
Cash Proceeds from Convertible Promissory Notes	$	825,000		$	1,134,578
Excess of proceeds over fair value at issuance		(451,615	)		(591,849	)
Change in fair value		118,117			133,205
Fair value as of December 31, 2023	$	491,502		$	675,934

Activity for the period ended December 31, 2023 for the Capital Contribution Note was as follows:

	Polar
Cash Proceeds from Capital Contribution Note	$	300,000
Excess of fair value over proceeds at issuance		1,059,720
Change in fair value		840,571
Fair value of the Capital Contribution Note as of December 31, 2023	$	2,200,291

	Polar
Fair value of Derivative Liability — Note Payable at initial withdrawal day, October 25, 2023	$	2,667,828
Change in fair value		21,536
Fair value of the Derivative Liability — Note Payable as of December 31, 2023	$	2,689,364