STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2019

On July 2, 2018, the Company’s amended and restated certificate of incorporation became effective, authorizing the Company to issue a total of 440,000,000 shares of all classes of capital stock, consisting of 400,000,000 shares of common stock, par value $0.001 per share, and 40,000,000 shares of preferred stock, par value $0.001 per share. As of December 31, 2019 and 2018, the Company had 49,763,176 and 42,148,247 shares of common stock outstanding, respectively. As of December 31, 2019 and 2018, the Company had no shares of preferred stock outstanding.

Common Stock

On July 2, 2018, the Company completed its IPO and issued 13,455,000 shares of common stock at an offering price of $19.00 per share for net proceeds of approximately $237.7 million, after deducting underwriting discounts and commissions of $17.9 million. Upon the closing of the IPO, all of the 104,225,638 shares of convertible preferred stock outstanding were automatically converted on a 1:3.98 basis into 26,187,321 shares of common stock.

On April 8, 2019, the Company consummated an underwritten public offering and issued 6,440,000 shares of common stock, which included the exercise in full by the underwriters of their option to purchase 840,000 additional shares of common stock at an offering price of $36.00 per share for net proceeds of approximately $217.9 million, after deducting underwriting discounts and commissions of $13.9 million.

Common stock reserved for future issuance as of December 31, 2019 and 2018, consisted of the following.


	December 31, 2019	December 31, 2018

Stock options and RSUs issued and outstanding	6,809,257	4,599,307
Stock options, RSUs and ESPP shares authorized for future issuance	3,257,316	4,534,784
Total	10,066,573	9,134,091