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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Measurements [Abstract]  
Schedule of Company’s Assets that are Measured at Fair Value on a Recurring Basis Liabilities subject to fair value measurements are as follows:
   As of June 30, 2024 
   Level 1   Level 2   Level 3   Total 
Liabilities                
Earnout Shares liability  $
      -
   $
      -
   $48,329,000   $48,329,000 
True Up Shares liability   
-
    
-
    422,000    422,000 
Subject Vesting Shares liability   
-
    
-
    12,458,000    12,458,000 
Total liabilities  $
-
   $
-
   $61,209,000   $61,209,000 

 
Schedule of Estimated Fair Value Earnout Shares Assumptions such as risk-free rate, stock price, volatility, and discount rate were based on market data. See the following summary of key inputs:
    As of
June 30,
2024		     As of
March 14,
2024		  
Stock Price (1)   $ 10.31     $ 10.00  
Volatility     40 %     35 %
Risk free rate of return     4.30 %     4.24 %
Expected term (in years)     4.7       5.0  

 

(1) At March 14, 2024, the $10.00 price represents the Business Combination price.
Schedule of Earnout Share Liability The following table presents the changes in the fair value of the Earnout Shares liability at June 30, 2024:
   For the
six months ended
June 30,
2024		 
Earnout Shares Liability as of December 31, 2023  $
—
 
Expensed as transaction costs of business combination   53,721,000 
Change in fair value   7,672,000 
Balance as of March 31, 2024   61,393,000 
Change in fair value   (13,064,000)
Balance as of June 30, 2024  $48,329,000 

 
Schedule of Changes in the Fair Value of the True Up Shares liability The following table presents the changes in the fair value of the True Up Shares liability at June 30, 2024:
    For the
six months
ended
June 30,
2024		  
Balance as of December 31, 2023   $
—
  
Assumed in the Business Combination     555,000  
Change in fair value     (269,000 )
Balance as of March 31, 2024   $ 286,000  
Change in fair value     136,000  
Balance as of June 30, 2024     422,000  
Schedule of Vesting Shares Liability The following table presents the changes in the fair value of the Subject Vesting Shares liability at June 30, 2024:
    For the
six months
ended
March 31,
2024		  
Balance as of December 31, 2023   $
—
  
Assumed in the Business Combination     11,792,000  
Change in fair value     2,425,000  
Balance as of March 31, 2024     14,217,000  
Change in fair value     (1,759,000 )
Balance as of June 30, 2024   $ 12,458,000