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Fair Value Measurements (Tables)
3 Months Ended
Aug. 31, 2024
Fair Value Measurements [Abstract]  
Schedule of Fair Value Hierarchy of the Valuation Inputs the Company Utilized to Determine such Fair Value The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of August 31, 2024, and May 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
Description  Amount at
Fair Value
   Level 1   Level 2   Level 3 
August 31, 2024                
Liabilities                
Derivative Liability - Forward Purchase Agreement  $21,121   $
   $
   $21,121 
Derivative Liability - Warrants  $5,741   $419   $
   $5,322 
Total  $26,862   $419   $
   $26,443 

 

Description  Amount at
Fair Value
   Level 1   Level 2   Level 3 
May 31, 2024                
Liabilities                
Derivative Liability - Forward Purchase Agreement  $20,938   $
   $
   $20,938 
Derivative Liability - Warrants  $576   $549   $
   $27 
Total  $21,514   $549   $
   $20,965 
Schedule of Level 3 Fair Value Measurements Inputs The following table provides quantitative information regarding Level 3 fair value measurements inputs related to the Forward Purchase Agreement at their measurement dates:
   August 31,
2024
   May 31,
2024
 
Redemption Price (USD)  $10.61   $10.61 
Stock Price (USD)  $0.99   $0.80 
Volatility   76%   53%
Term (years)   1.93    2.18 
Risk-free rate   3.61%   4.51%
As outlined in note 7, 5,800,000 warrants were issued on August 21, 2024. The following table provides quantitative information regarding Level 3 fair value measurements inputs related to these Warrant liabilities at their measurement dates:
   August 31,
2024
   August 21,
2024
 
Redemption Price (USD)  $0.75   $0.75 
Stock Price (USD)  $0.99   $0.96 
Volatility   76%   76%
Term (years)   4.9    5.0 
Risk-free rate   3.61%   3.61%
Schedule of Change in the Fair Value of the Assets and Liabilities The change in the fair value of the assets and liabilities, measured with Level 3 inputs, for the quarter ended August 31, 2024, is summarized as follows:
   August 31,
2024
 
Fair value Derivative Liability - May 31, 2024  $20,965 
Change in fair value of Forward Purchase Agreement   183 
Additional Warrant Liabilities incurred   5,157 
Change in fair value of Warrant Liabilities   138 
Fair value Derivative Liability - August 31, 2024  $26,443