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Convertible Preferred Stock and Stockholders’ Deficit (Tables)

6 Months Ended

Jun. 30, 2018

Summary of Common Stock Issued and Reserved for Issuance

The following table summarizes the total number of shares of the Company’s common stock issued and reserved for issuance as of June 30, 2018 (in thousands):

	June 30, 2018
Shares of common stock issued		257
Shares of common stock reserved for issuance for:
Convertible preferred stock outstanding:
Series A-1		166
Series A-2 ⁽¹⁾		898
Series B ⁽²⁾		697
Series C ⁽³⁾		1,063
Series D		1,705
Series E		1,534
Series F		3,531
Series G		1,400
Convertible preferred stock warrants outstanding:
Series E		14
Series F		91
Warrants issuable upon Term C Loan borrowing		20
Stock options outstanding		2,855
Shares available for grant under stock incentive plan		48
Total shares of common stock issued and reserved for issuance		14,279

___________________________

⁽¹⁾	Shares of Series A-2 convertible preferred stock convert to common stock at a ratio of 0.03539 shares of common stock per share of Series A-2 convertible preferred stock.

⁽²⁾	Shares of Series B convertible preferred stock convert to common stock at a ratio of 0.04103 shares of common stock per share of Series B convertible preferred stock.

⁽³⁾	Shares of Series C convertible preferred stock convert to common stock at a ratio of 0.05071 shares of common stock per share of Series C convertible preferred stock.

Summary of Outstanding Convertible Preferred Stock

The following table summarizes the Company’s outstanding convertible preferred stock as of June 30, 2018 and December 31, 2017:

	Shares Authorized and Designated (in thousands)		Shares Issued and Outstanding (in thousands)		Carrying Value (in thousands)		Liquidation Value per Share		Liquidation Value (in thousands)
Series A-1		4,800		4,800	$	900	$	0.0617	$	296
Series A-2		25,385		25,385		16,428	$	0.2052		5,209
Series B		17,000		17,000		16,859	$	0.3168		5,386
Series C		20,958		20,958		34,841	$	0.5253		11,009
Series D		49,426		49,426		29,970	$	0.2874		14,205
Series E		44,873		44,471		29,800	$	0.5144		22,876
Series F		105,567		102,334		43,513	$	0.3356		34,343
Series G		40,584		40,584		14,825	$	0.3696		15,000
Balance at June 30, 2018 and December 31, 2017		308,593		304,958	$	187,136			$	108,324

Summary of Outstanding Convertible Preferred Stock Warrants

The following table summarizes the Company’s outstanding convertible preferred stock warrants as of June 30, 2018:

	Warrants Outstanding (in thousands)		Exercise Price		Expiration Date
Series E		402	$	0.6746	Dec-2022
Series F		878	$	0.3356	Feb-2021
Series F		589	$	0.3356	Aug-2023
Series F		589	$	0.3356	Mar-2024
Series F		588	$	0.3356	Dec-2024
		3,046

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details