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Fair Value Measurements (Tables)
9 Months Ended
Feb. 28, 2025
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 February 28, 2025, 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 
February 28, 2025                
Liabilities                
Derivative Liability - Warrants  $1,899   $611   $
   $1,288 
Total  $1,899   $611   $
   $1,288 

 

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:

 

   November 1,
2024
   May 31,
2024
 
Redemption Price (USD)  $10.61   $10.61 
Stock Price (USD)  $0.28   $0.80 
Volatility   76%   53%
Term (years)   1.76    2.18 
Risk-free rate   4.40%   4.51%
The following table provides quantitative information regarding Level 3 fair value measurements inputs related to these Warrant liabilities at their measurement dates:
   February 28,
2025
   August 21,
2024
 
Redemption Price (USD)  $0.75   $0.75 
Stock Price (USD)  $0.51   $0.96 
Volatility   76%   76%
Term (years)   4.5    5.0 
Risk-free rate   4.23%   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 nine months ended February 28, 2025, is summarized as follows:

 

   February 28,
2025
 
Fair value Derivative Liability - May 31, 2024  $20,965 
Change in fair value of Forward Purchase Agreement   740 
Termination of Forward Purchase Agreement   (21,678)
Additional Warrant Liabilities incurred   5,157 
Change in fair value of Warrant Liabilities   (3,896)
Fair value Derivative Liability – February 28, 2025  $1,288