Fair Value Measurements - (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and derivative liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

			December 31,		December 31,
	Level		2024		2023
Assets:
Investments held in Trust Account		1	$	13,699,805	$	24,554,804
Liabilities:
Public Warrants (1)		1	$	230,000	$	690,000
Private Placement Warrants (1)		2	$	128,000	$	384,000
Working Capital Loan Conversion Option		3	$	—	$	—
Note Payable - Polar		3	$	849,839	$	346,353
2024 Non-Redemption Agreements		3	$	1,250,000	$	—

(1)

The Warrants are accounted for as liabilities in accordance with ASC 815 and are presented within warrant liabilities on the consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the consolidated statements of operations.

Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3

The following table presents the changes in the fair value of the Company’s financial assets and liabilities classified as Level 3:

	2024 Non- Redemption Agreements		Note Payable - Polar		Working Capital Loan Conversion Option
Fair value as of December 31, 2023	$	—	$	346,353	$	—
Initial value of additional borrowings of $350,000 of the Note Payable - Polar		—		181,756		—
Initial value of the 2024 Non-Redemption Agreements		1,002,000		—		—
Change in fair value		248,000		321,730		—
Fair value as of December 31, 2024	$	1,250,000	$	849,839	$	—

Note Payable-Polar [Member]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Key Inputs Into Models for Note Payable

The key inputs into the models for the Note Payable - Polar were as follows:

Input	December 31, 2024			December 31, 2023

Probability of an Initial Business Combination		70	%		40	%
Risk-free rate		4.37	%		5.18	%
Expected term (years)		0.25			0.58
Expected volatility	De minimis			De minimis
Class A common stock price	$	10.22		$	10.46

2024 Non-Redemption Agreements [Member]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Key Inputs Into Models for Note Payable

The key inputs into the models for the 2024 Non-Redemption Agreements were as follows:

Input	December 31, 2024

Probability of an Initial Business Combination		70	%
Risk-free rate		4.32	%
Expected term (years)		0.25
Expected volatility	De minimis
Class A common stock price	$	10.22

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