Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Measurements [Abstract]

Fair Value Level 3 Inputs

To determine the Fair Value of the New Adagio Common Stock on inception, the Company used the following Level 3 inputs:

	March 31,
	2024
Base Share Price	$	10.00
Adjusted per Share  (1.2X Purchase Price Ratio)	$	8.33
Adjusted share price	$	7.00
Probablility of Closing		75.00	%
Estimated fair value per Share at Closing	$	5.25

To determine the Fair Value of the PIPE Warrants on inception, the Company used the following Level 3 inputs:

	March 31,
	2024
Base Share Price	$	7.00
Strike price, as defined in Subscription Agreement	$	10.00
Term (Months)		12.00
Average volatility rate		70.00	%
Estimated expected Warrant price	$	1.21
Estimated fair value per Warrant at Closing (1.2x Coverage Ratio)	$	1.45