v3.26.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Measurements [Abstract]  
Schedule of Company’s 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 at December 31, 2025 and 2024, and indicates the fair value hierarchy of the valuation inputs the Company’s utilized to determine such fair value:

 

       December 31,   December 31, 
Description  Level   2025   2024 
Assets:            
Forward purchase agreement asset (Note 11)  3   $-   $155 
SEPA put rights asset (Note 13)  3    96    188 
Liabilities:                     
Embedded derivative liability (Note 13)  3   $-   $80 
Schedule of Fair Value of the Company’s Position Under the Forward Purchase Agreement The fair value of the Company’s position under the Forward Purchase Agreement was calculated as of December 31, 2024 by multiplying the number of shares under the Forward Purchase Agreement by the market price at the settlement date estimated using a Monte-Carlo simulation incorporating the following assumptions:
   December 31, 
   2024 
Stock price  $53.70 
Risk-free interest rate   4.4%
Expected term (in years)   0.1 
Expected volatility   98%
Expected dividend yield   0%
The fair value of the put rights under each advance notice was estimated using the Black Scholes model, incorporating the following assumptions:
    December 31,     December 31,  
    2025     2024  
Stock price   $ 4.23     $ 53.70  
Risk-free interest rate     3.5 – 3.7 %     4.2 %
Exercise price     4.06       51.60  
Expected term (in years)     0.25 to 0.92       1 to 2  
Expected volatility     78-86 %      93-99 % 
Expected dividend yield     0 %     0 %
Number of shares     27,100       1,883  
Schedule of Changes in the Fair Value of Level 3 Financial Assets and Liabilities

The changes in the fair value of Level 3 financial assets and liabilities for the year ended December 31, 2025 are as follows:

 

   Forward
Purchase
Agreement
asset
   SEPA
Put Rights
Asset
  

Embedded

Derivative

Liability

 
Fair value as of January 1, 2025  $155   $188   $80 
Initial measurement at the issuance date (see Note 13)   
 
    
 
    93 
Change in fair value   (23)   (92)   773 
Settlement gain (loss)   (132)   
 
    (946)
Fair value as of December 31, 2025  $-   $96   $-