Redeemable Convertible Preferred Stock

9 Months Ended

Sep. 30, 2020

Temporary Equity Disclosure [Abstract]

Redeemable Convertible Preferred Stock

6. Redeemable Convertible Preferred Stock

In connection with our IPO in June 2020, the outstanding shares of our Series A, Series B, Series C and Series D Redeemable Convertible Preferred Stock automatically converted into 28,610,337 shares of common stock.

The authorized, issued and outstanding shares of redeemable convertible preferred stock and liquidation preferences as of December 31, 2019 were as follows:

	December 31, 2019
	Shares Authorized		Issued and Outstanding		Original Issuance Price		Carrying Value		Liquidation Preference
							(In thousands)
Series A Redeemable Convertible Preferred		10,502,804		6,225,719	$	4.32	$	24,967	$	26,887
Series B Redeemable Convertible Preferred		11,449,515		6,786,896		8.86		55,151		60,150
Series C Redeemable Convertible Preferred		14,010,043		7,377,480		11.52		80,192		85,000
		35,962,362		20,390,095			$	160,310	$	172,037

In March, 2020, we sold an aggregate of 8,220,242 shares of our Series D redeemable convertible preferred stock at a purchase price of $13.3816 per share for an aggregate purchase price of $110.0 million.

There were no shares of redeemable convertible preferred stock outstanding as of September 30, 2020.