Quarterly report pursuant to Section 13 or 15(d)

Redeemable Convertible Preferred Stock (Tables)

v3.24.3
Redeemable Convertible Preferred Stock (Tables)
 9 Months Ended
Sep. 30, 2024
Temporary Equity Disclosure [Abstract]  
Fair Value Measurement Inputs and Valuation Techniques The Private Placement Warrants and Public Warrants are classified as Level 3 and their value was determined by using a Black-Scholes Model with the following assumptions on a pre-reverse split basis:
September 30,
2024		 December 31,
2023
Fair value of common stock $0.27 $0.35
Exercise Price $11.50 $11.50
Risk-free interest rate 3.58% 3.93%
Expected term (in years) 2.79 3.54
Volatility 80.81% 71.77%
Dividend yield — —
The aggregate fair value of the Volition Warrants was $0.7 million and determined using a Black-Scholes Model with the following inputs:
Fair value of common stock $ 2.16 
Exercise Price
 $0.01 — $6.33
Expected term in years 3.0 
Risk free rate 4.56  %
Volatility 67.24  %
Dividend yield —  %