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Convertible Preferred Stock (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of Shares of Convertible Preferred Stock and Common Stock


The changes in the shares of convertible preferred stock and common stock during the years ended December 31, 2015, 2014 and 2013 were as follows:

 

Series A Convertible Preferred Stock

 

 

Extinguished Series B-1 Convertible Preferred Stock

 

 

Extinguished Series C Convertible Preferred Stock

 

 

Extinguished Series D-1 Convertible Preferred Stock

 

 

Extinguished Series D-2 Convertible Preferred Stock

 

 

New Series B Convertible Preferred Stock

 

 

New Series C Convertible Preferred Stock

 

 

Total Convertible Preferred Stock

 

 

Common Stock

 

Balance at December 31, 2012

 

163,462

 

 

 

6,321,238

 

 

 

9,108,533

 

 

 

1,155,172

 

 

 

 

 

 

 

 

 

 

 

 

16,748,405

 

 

 

730,203

 

Issuance of Series D-1 convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

983,558

 

 

 

 

 

 

 

 

 

 

 

 

983,558

 

 

 

 

Issuance of Series D-2 convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

 

3,013,797

 

 

 

 

 

 

 

 

 

3,013,797

 

 

 

 

Conversion of Series C convertible

    preferred stock and related dividends

    dividends into common stock and

    deemed capital contribution

 

 

 

 

 

 

 

(1,470,485

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,470,485

)

 

 

147,051

 

Conversion of accrued dividends

    into Series D-2 convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

 

3,196,417

 

 

 

 

 

 

 

 

 

3,196,417

 

 

 

 

Extinguishment of Series B-1, Series C,

    Series D-1 and Series D-2 convertible

    preferred stock

 

 

 

 

(6,321,238

)

 

 

(7,638,048

)

 

 

(2,138,730

)

 

 

(6,210,214

)

 

 

 

 

 

 

 

 

(22,308,230

)

 

 

 

Exchange of new Series B convertible

   preferred stock and deemed dividend

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22,308,230

 

 

 

 

 

 

22,308,230

 

 

 

 

Issuance of new Series C convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,564,638

 

 

 

2,564,638

 

 

 

 

Issuance of common stock from

    option exercise

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,463

 

Balance at December 31, 2013

 

163,462

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22,308,230

 

 

 

2,564,638

 

 

 

25,036,330

 

 

 

878,717

 

Repurchase of Series A convertible

    preferred stock and deemed

    capital contribution

 

(1,353

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,353

)

 

 

 

Issuance of  Series C convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

880,546

 

 

 

880,546

 

 

 

 

Conversion of convertible

    promissory notes into

    Series C convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,739,405

 

 

 

1,739,405

 

 

 

 

Issuance of common stock from

    option exercise

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28,320

 

Balance at December 31, 2014

 

162,109

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22,308,230

 

 

 

5,184,589

 

 

 

27,654,928

 

 

 

907,037

 

Issuance of  Series C convertible

    preferred stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,727,059

 

 

 

2,727,059

 

 

 

 

Conversion of convertible preferred

    stock into common stock in

    connection with the merger

 

(162,109

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(22,308,230

)

 

 

(7,911,648

)

 

 

(30,381,987

)

 

 

30,381,987

 

Issuance of common stock upon

    private placement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,884,504

 

Issuance of common stock to

    Mirax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,000,005

 

Issuance of common stock from

    option exercise

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31,427

 

Balance at December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

38,204,960

 

 

Components of Convertible Preferred Stock

Convertible preferred stock as of December 31, 2015 and 2014 consisted of the following (in thousands, except share data):

 

 

 

December 31, 2015

 

 

 

Shares

Authorized

 

 

Shares Issued

and

Outstanding

 

 

Aggregate

Liquidation

Preference

 

 

Net Carrying

Value

 

Series A

 

 

398,500

 

 

 

 

 

$

 

 

$

 

Series B

 

 

60,500,000

 

 

 

 

 

 

 

 

 

 

Series C

 

 

19,812,497

 

 

 

 

 

 

 

 

 

 

Total

 

 

80,710,997

 

 

$

 

 

$

 

 

$

 

 

 

 

December 31, 2014

 

 

 

Shares

Authorized

 

 

Shares Issued

and

Outstanding

 

 

Aggregate

Liquidation

Preference

 

 

Net Carrying

Value

 

Series A

 

 

398,500

 

 

 

162,109

 

 

$

3,004

 

 

$

3,003

 

Series B

 

 

60,500,000

 

 

 

22,308,230

 

 

 

113,405

 

 

 

112,080

 

Series C

 

 

13,562,497

 

 

 

5,184,589

 

 

 

30,323

 

 

 

30,027

 

Total

 

 

74,460,997

 

 

 

27,654,928

 

 

$

146,732

 

 

$

145,110