Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Summary of assets and liabilities that are measured at fair value on a recurring basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023 and 2022 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:


December 31, 2023 Description	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
Investments held in Trust Account-U.S. Treasury Securities (1)	$	49,216,069	$	—	$	—
Liabilities:
Derivative warrant liabilities -Public Warrants	$	2,070,000	$	—	$	—
Derivative warrant liabilities-Private Placement Warrants	$	—	$	—	$	1,872,000
Working Capital Loan-related party	$	—	$	—	$	1,100,250

December 31, 2022 Description	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets:
Investments held in Trust Account-U.S. Treasury Securities (1)	$	283,041,710	$	—	$	—
Liabilities:
Derivative warrant liabilities -Public Warrants	$	3,519,000	$	—	$	—
Derivative warrant liabilities-Private Placement Warrants	$	—	$	—	$	2,556,800
Working Capital Loan-related party	$	—	$	—	$	150,000

(1)	Excludes $652 and $576 of cash balance held within the Trust Account as of December 31, 2023 and 2022, respectively.

Summary of quantitative information regarding Level 3 fair value measurements input

The following table provides quantitative information regarding Level 3 fair value measurements input for Private Placement Warrants, and Working Capital Loan at their measurement dates:


	As of December 31, 2023			As of December 31, 2022
Exercise price	$	11.50		$	11.50
Stock price	$	10.69		$	10.20
Volatility		5.2	%		4.4	%
Term (years)		5.58			5.42
Risk-free rate		3.78	%		3.91	%
Dividend yield		0.0	%		0.0	%

Summary of fair value of the derivative liabilities, measured using Level 3 inputs,

The Company determined that the fair value of the Working Capital Loan at initial measurement approximated the proceeds received from the issuance of the additional Working Capital Loan.

The change in the fair value of the derivative liabilities, measured using Level 3

inputs

, for the year ended December 31, 2023 and 2022, is summarized as follows:


Derivative warrant liabilities a s of December 31, 2022	$	2,556,800
Issuance of Private Placement Warrants		552,000
Change in fair value of derivative warrant liabilities		(1,236,800	)

Derivative warrant liabilities a s of December 31, 2023	$	1,872,000


Derivative warrant liabilities a s of December 31, 2021	$	11,360,000
Issuance of Public and Private Placement Warrants		478,400
Change in fair value of derivative warrant liabilities		(9,281,600	)

Derivative warrant liabilities a s of December 31, 2022	$	2,556,800

Summary of change in the fair value of the Working Capital Loan – related party, measured using Level 3 inputs

The change in the fair value of the Working Capital Loan-related party, measured using Level 3 inputs, for the year ended December 31, 2023 and 2022, is summarized as follows:


Working Capital Loan-related party a s of December 31, 2022	$	150,000
Additional Working Capital Loan-related party		950,250

Working Capital Loan-related party a s of December 31, 2023	$	1,100,250

Working Capital Loan-related party a s of December 31, 2021	$	200,000
Change in fair value of Working Capital Loan-related party		(50,000	)

Working Capital Loan-related party as of December 31, 2022	$	150,000

Kensington Capital Acquisition Corp. V 10-K