Note 11. Capital Stock

Convertible Preferred Stock

Immediately prior to the IPO, the Company had the following outstanding convertible preferred stock:

	Shares Authorized		Shares Issued and Outstanding		Aggregate Liquidation Preference (in thousands)
Series B-1		4,773,000		3,848,023	$	22,575
Series A-2		1,177,000		1,176,423		20,000
					$	42,575

Upon the closing of the IPO, all shares of convertible preferred stock then outstanding were automatically converted into an aggregate of 4,689,753 shares of common stock, resulting in the reclassification of the related redeemable convertible preferred stock into $23,000 of common stock and $42.1 million into additional paid-in capital.

As of December 31, 2017, there were no shares of convertible preferred stock outstanding.

Common Stock

At December 31, 2016 and December 31, 2017, the Company was authorized to issue 8,000,000 and 500,000,000 shares, respectively, of common stock with a par value of $0.005 per share. At December 31, 2016 and 2017, there were 1,616,996 and 9,827,129 shares of common stock issued and outstanding, respectively. Holders of common stock have voting rights equal to one vote per share of common stock held and are entitled to receive any dividends as may be declared from time to time by the Board.

Prior to the IPO, common stock was subordinate to Series B-1 convertible preferred stock with respect to dividend rights and subordinate to Series B-1 and A-2 convertible preferred stock with respect to rights upon certain deemed liquidation events of the Company.

At December 31, 2016, shares of common stock reserved for future issuance were as follows:

	December 31,
	2016
Conversion of Series B-1 convertible preferred stock		3,848,023
Conversion of Series A-2 convertible preferred stock(1)		841,730
Conversion of Series B-1 convertible preferred stock warrants		680,027
Total conversion of convertible preferred stock and warrants		5,369,780
Options outstanding		1,130,141
Shares available for future grant		390,164
Total		6,890,085

(1)	Reflects the effect of an amendment and restatement of the Company’s amended and restated certificate of incorporation in March 2017 to implement a conversion feature for the Series A-2 convertible preferred stock.

At December 31, 2017, shares of common stock reserved for future issuance were as follows:

	December 31,
	2017
Options outstanding		1,294,128
Shares available for future grant		1,003,875
Unvested restricted stock units		47,312
Warrants to purchase common stock		468,278
Total		2,813,593

Preferred Stock

The Company is authorized to issue 20,000,000 shares of preferred stock, with a par value of $0.005, as provided in the Post-IPO Certificate. As of December 31, 2017, there were no shares of preferred stock issued and outstanding.