Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

11. Subsequent Events

On July 1, 2013, the Company completed its initial public offering of 5,400,000 shares of common stock, at $10.00 per share. The proceeds from the initial public offering were $50.2 million net of underwriting discounts and commissions, but before offering expenses. As of June 30, 2013, the Company had incurred $3.4 million of deferred offering costs, which will be offset against the net proceeds received from the sale of common stock.

On July 1, 2013, all outstanding shares of the Company’s mandatorily redeemable convertible preferred stock converted into shares of the Company’s common stock in connection with the initial public offering. Following the initial public offering, there were no shares of preferred stock outstanding. The shares of common stock issued upon conversion of the preferred stock were as follows (in thousands):

	Shares of Preferred Stock		Shares of Common Stock
Series A		557		781
Series B		516		805
Series C		3,551		3,551
Series D		2,430		2,430
Series E		1,064		1,064
		8,118		8,631

Until the conversion of the preferred stock, the Company recorded preferred stock accretion using an effective interest method to reach a value equal to the redemption value pursuant to the terms of the preferred stock set forth in the Company’s certificate of incorporation.

In addition, on July 1, 2013, concurrent with completion of the initial public offering, all outstanding preferred stock warrants converted into warrants to purchase an aggregate of 617,605 shares of common stock with a weighted average exercise price of $8.78 per share.