Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Significant Unobservable Inputs Used in Valuation Models

Significant unobservable inputs used in the valuation models were as follows:

	December 31, 2022
Public listing probability	50%
Lack of marketability	32%
Discount rates used in the sale scenario for debt instruments	70%
Discount rates used in the public listing scenario	20 - 30%
Probability weighted volatility	147%

Summary of Company's Financial Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial liabilities that are measured at fair value on a recurring basis in the consolidated financial statements (in thousands):

	Fair Value Measurements at December 31, 2023 Using:
	Level 1		Level 2		Level 3		Total
Liabilities:	$	—	$	—	$	—	$	—
Convertible notes at fair value		—		—		7,715		7,715
Preferred shares warrant liability		—		—		—		—
SAFE notes at fair value		—		—		25		25
GEM derivative liability		—		—		11,333		11,333
Total financial liabilities	$	—	$	—	$	19,073	$	19,073

	Fair Value Measurements at December 31, 2022 Using:
	Level 1		Level 2		Level 3		Total
Liabilities:	$	—	$	—	$	—	$	—
Convertible notes at fair value		—		—		29,096		29,096
Preferred shares warrant liability		—		—		51		51
SAFE notes at fair value		—		—		24,714		24,714
GEM derivative liability		—		—		2,963		2,963
Total financial liabilities	$	—	$	—	$	56,824	$	56,824

Schedule of Reconciliation of Activity and Changes in Fair Value for Company's Convertible Loans and Redeemable Convertible Preferred Stock Warrant Liability

The following table provides a reconciliation of activity and changes in fair value for the Company’s convertible loans and redeemable convertible preferred stock warrant liability using inputs classified as Level 3 (in thousands):

	Convertible Notes at Fair Value			Preferred Shares Warrant Liability			SAFE Notes			GEM Derivative Liability
Balance at December 31, 2021	$	11,681		$	9		$	19		$	435
Issuance of convertible notes		4,191			—			11,839			—
Conversion of convertible notes to preferred shares		(10,257	)		—			—			—
Conversion of PFG liability to convertible note		11,197			—			—			—
Change in fair value		12,284			42			12,856			2,528
Balance at December 31, 2022	$	29,096		$	51		$	24,714		$	2,963
Issuance of SAFE notes		—			—			3,716			—
Conversion of related party notes to SAFE		—			—			4,354			—
Advances received on share purchase agreement		—			—			—			10,200
Borrowings on convertible notes		8,000			—			—			—
Payments on borrowings of convertible notes		(40	)		—			—			—
Change in fair value		8,330			(40	)		30,750			11,190
GEM settlement in common shares		—			—			—			(13,020	)
Reclassification of convertible note to SAFE		(23,318	)		—			23,318			—
Conversion of convertible notes to preferred shares		(14,353	)		—			—			—
Conversion of SAFE to common shares		—			—			(86,827	)		—
Reclassification to common equity		—			(11	)		—			—
Balance at December 31, 2023	$	7,715		$	—		$	25		$	11,333

Summary of Carrying Amounts and Fair Values of Long-term Debt Obligations

The carrying amounts and fair values of the Company’s long-term debt obligations were as follows:

	As of December 31, 2023				As of December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current maturities	$	25,794	$	26,036	$	—	$	—
Term notes payable to related parties	$	18,610	$	18,541	$	4,500	$	2,958