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Warrants (Tables)
12 Months Ended
Dec. 31, 2023
Warrants and Rights Note Disclosure [Abstract]  
Summary of Number of Outstanding Public and Private Placement Warrants and Corresponding Exercise Price The following table summarizes the number of outstanding Public Warrants and Private Placement Warrants and the corresponding exercise price:

 

As of December 31,

 

 

 

 

 

 

 

2023

 

 

2022

 

 

Exercise Price

 

 

Expiration Date

Public Warrants

 

10,541,595

 

 

 

10,541,595

 

 

$

11.50

 

 

December 21, 2026

Private Placement Warrants

 

5,432,237

 

 

 

5,432,237

 

 

$

11.50

 

 

December 21, 2026

Schedule of Key Inputs into BSM and Monte Carlo Simulation Model for Private Placement Warrants

The key inputs into the BSM and Monte Carlo simulation model as of December 31, 2023 and December 31, 2022, respectively, for the Private Placement Warrants were as follows:

 

 

 

 

 

 

 

As of December 31, 2023

 

 

As of December 31, 2022

 

Stock Price

$

1.45

 

 

$

1.66

 

Dividend yield

 

0.00

%

 

 

0.00

%

Expected Volatility

 

70.00

%

 

 

69.50

%

Expected term (years)

 

2.98

 

 

 

3.98

 

Risk-free interest rate

 

4.01

%

 

 

4.07

%

Exercise Price

$

11.50

 

 

$

11.50

 

Schedule of Changes in Fair Value of Public and Private Placement Warrants

The following table presents the changes in the fair value of the Public and Private Placement Warrants:

 

Public Warrants

 

 

Private Placement Warrants

 

 

Total Warrant Liabilities

 

Fair value as of December 31, 2021

$

7,168

 

 

$

4,998

 

 

$

12,166

 

Change in valuation inputs or other assumptions

 

(6,114

)

 

 

(3,754

)

 

 

(9,868

)

Fair value as of December 31, 2022

$

1,054

 

 

$

1,244

 

 

$

2,298

 

Change in valuation inputs or other assumptions

 

(527

)

 

 

(804

)

 

 

(1,331

)

Fair value as of December 31, 2023

$

527

 

 

$

440

 

 

$

967