Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

v3.24.2.u1
Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Measurement [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
 
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Assets Held in Trust
  
$
101,592,732
    
$
-
    
$
-
    
$
101,592,732
  
Liabilities:
                                
Warrant Liabilities:
                                
Public Warrants
  
$
1,725,000
    
$
-
    
$
-
    
$
1,725,000
  
Private Placement Warrants
    
-
      
-
      
1,071,900
      
1,071,900
  
Total Warrant Liabilities
  
$
1,725,000
    
$
-
    
$
1,071,900
    
$
2,796,900
  


The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
 
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Assets Held in Trust
  
$
100,304,232
    
$
-
    
$
-
    
$
100,304,232
  
Liabilities:
                                
Warrant Liabilities:
                                
Public Warrants
  
$
230,000
    
$
-
    
$
-
    
$
230,000
  
Private Placement Warrants
  

-
      
-
      
142,920
      
142,920
  
Total Warrant Liabilities
  
$
230,000
    
$
-
    
$
142,920
    
$
372,920
  
Level 3 Fair Value Measurement Inputs of Private Placement Warrants

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants were as follows on June 30, 2024 and December 31, 2023:

Input
  
June 30,
2024
   
December 31,
2023
 
Share Price
  
$
10.90
    
$
10.84
  
Exercise Price
  
$
11.50
    
$
11.50
  
Risk-free rate of interest
    
4.24
%
    
3.78
%
Volatility
    
3.5
%
    
2.0
%
Term
    
5.13
      
5.79
  
Fair Value of Warrants
  
$
0.15
    
$
0.02
  
Changes in Fair Value of Warrant Liabilities

The following table presents the changes in the fair value of Level 3 warrant liabilities:
 
  
Private Warrants
  
Fair value as of December 31, 2023
  
$
142,920
  
Change in fair value(1)
  
$
214,380
  
Fair value as of March 31, 2024   $ 357,300  
Change in fair value
   $ 714,600  
Fair value as of June 30, 2024   $ 1,071,900  

(1)
Changes in valuation inputs or other assumptions are recognized in change in fair value of warrant liabilities in the statement of operations.