Immediately prior to the closing of the Company's IPO, 18,670,259 shares of outstanding convertible preferred stock converted into 18,670,259 shares of common stock. As discussed in Note 1, the fractional shares resulting from the Reverse Stock Split, aggregating to 45 whole shares of common stock and 69 whole shares of convertible preferred stock will be settled in cash. As of March 31, 2019, the Company has not paid this liability.

The Company’s amended and restated certificate of incorporation, which became effective upon the completion of the IPO, authorizes 5,000,000 shares of preferred stock, of which no shares were issued or outstanding as of March 31, 2019.

Upon the closing of the IPO, all of the outstanding convertible preferred stock warrants were converted into 54,903 common stock warrants, which resulted in the reclassification of the convertible preferred stock warrant liability of $0.8 million to additional paid-in capital.

As part of the IPO, 91,446 related party common stock warrants were net exercised based on the IPO price of $17.00 per share into 79,632 shares of common stock.

In February 2018, in connection with the execution of the Loan and Security Agreement with Silicon Valley Bank for a term loan and revolving line of credit (the “2018 Loan and Security Agreement”), the Company issued warrants to purchase shares of the Company’s common stock.

The key terms of the outstanding common stock warrants are summarized in the following table:

	Warrants Outstanding March 31, 2019		Warrants Outstanding December 31, 2018		Exercise Price		Expiration
Related party common stock warrants		—		141,778	$	2.196	May 2025
Common stock warrants issued in connection with the 2018 Loan and Security Agreement		34,440		34,440	$	4.026	February 2028
Common stock warrant issued in connection with conversion of preferred stock warrants upon initial public offering		54,903		—	$	3.096	June 2024
Total common stock warrants		89,343		176,218