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Fair Value Measurements (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Fair Value Measurements [Line Items]    
Schedule of Liabilities Measured at Fair Value on a Recurring Basis

The following tables provide information related to the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024:

 

   September 30, 2025 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Forward purchase agreement warrant liability  $
-
   $
-
   $12   $12 
Private warrant liability   
-
    2,839    
-
    2,839 
Publicly traded warrant liability   533    
-
    
-
    533 
   $533   $2,839   $12   $3,384 

  

   December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Forward purchase agreement warrant liability  $
   $
   $472   $472 
Publicly traded warrant liability   662    
    
    662 
   $662   $
   $472   $1,134 

The following tables provide information related to the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023 (in thousands):

 

   December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Forward purchase agreement warrant liability  $
   $
   $472   $472 
Publicly traded warrant liability   662    
    
    662 
   $662   $
   $472   $1,134 
   December 31, 2023 
   Level 1   Level 2   Level 3   Total 
Liabilities:                
Forward purchase agreement warrant liability  $
   $
   $4   $4 
Forward purchase agreement put option liability   
    
    103    103 
Publicly traded warrant liability   332    
    
    332 
   $332   $
   $107   $439 
Schedule of Instruments Measured at Fair Value on a Recurring Basis

The following tables summarize the activity for the Company’s Level 3 instrument measured at fair value on a recurring basis:

 

   Forward
Purchase
Agreement
Warrant
Liability
 
Balance as of December 31, 2024  $472 
Change in fair value   (522)
Effect of amendment (see Note 9)   62 
Balance as of September 30, 2025  $12 

The following table summarizes the activity for the Company’s Level 3 instruments measured at fair value on a recurring basis (in thousands):

 

   Forward
Purchase
Agreement
Warrant
Liability
   Forward
Purchase
Agreement Put
Option
Liability
 
Balance as of December 31, 2023  $4   $103 
Change in fair value   (411)   (103)
Effect of amendments (see Note 10)   975    
    —
 
Extinguishment of excess warrant liability upon exercise of warrants associated with the forward purchase agreement   (96)   
 
Balance as of December 31, 2024  $472   $
 
Schedule of Fair Value Measurements of the Forward Purchase Agreement Warrant Liability   The following table presents the quantitative information regarding Level 3 fair value measurements of the forward purchase agreement warrant liability as of December 31, 2024 and the forward purchase agreement warrant liability and forward purchase agreement put option liability as of December 31, 2023:
   December 31,
2024
   December 31,
2023
 
Stock price  $1.43   $1.81 
Initial exercise price  $10.46   $10.46 
Annual volatility   130.0%   46.9%
Remaining term (in years)   1.00    0.75 
Risk-free rate   4.08%   4.90%
   September 29,
2023
 
Underlying stock price  $7.02 
Exercise price  $11.50 
Expected term (in years)   10.00 
Expected volatility   48.9%
Warrant Liability [Member]    
Fair Value Measurements [Line Items]    
Schedule of Fair Value Measurements of the Forward Purchase Agreement Warrant Liability The following table presents the quantitative information regarding Level 3 fair value measurements of the forward purchase agreement warrant liability as of September 30, 2025 and December 31, 2024:
   September 30,
2025
   December 31,
2024
 
Stock price  $0.78   $1.43 
Initial exercise price  $10.46   $10.46 
Annual volatility   90.0%   130.0%
Remaining term (in years)   0.3    1.0 
Risk-free rate   3.94%   4.08%