Recurring Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Recurring Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	June 30, 2024
		Level 1		Level 2		Level 3
Public Warrants	$	460,000	$	—	$	—
Private Warrants	$	—	$	—	$	448,000
Working Capital Loan Conversion Option	$	—	$	—	$	—

	December 31, 2023
		Level 1		Level 2		Level 3
Public Warrants	$	230,000	$	—	$	—
Private Warrants	$	—	$	—	$	224,000
Working Capital Loan Conversion Option	$	—	$	—	$	—

Key Inputs into Binomial Lattice Model

The key inputs into the binomial lattice model were as follows at June 30, 2024 and December 31, 2023:

Input	June 30, 2024			December 31, 2023
Risk-free interest rate		4.28	%		3.81	%
Expected term to Initial Business Combination (years)		0.25			0.25
Expected volatility		de minimis	%		de minimis
Common stock price	$	11.15		$	10.89
Dividend yield		0.0	%		0.0	%

Changes in Fair Value of Warrants

The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the Company’s warrants classified as Level 3 for the period ended June 30, 2024 and 2023:

December 31, 2023	$	224,000
Change in fair value		336,000
March 31, 2024	$	560,000
Change in fair value		(112,000	)
June 30, 2024	$	448,000
December 31, 2022	$	560,000
Change in fair value		—
March 31, 2023	$	560,000
Change in fair value		224,000
June 30, 2023	$	784,000