Stockholders’ Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders’ Equity

Stockholders’ Equity

Common Stock

As of December 31, 2023, the Company had authorized common stock (voting), common stock (non-voting) and preferred stock of 750,000,000, 150,000,000 and 10,000,000 shares, respectively, of which only common stock (voting) were issued and outstanding. All classes of equity have a par value of $0.001 per share.

The Company had 222,998,790 and 217,875,890 shares of common stock outstanding as of December 31, 2023 and 2022, respectively. All of the Company’s issued and outstanding shares of common stock are duly authorized, validly issued, fully paid and nonassessable. Each holder of the Company’s common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Holders of the Company’s common stock have no preemptive, subscription or other rights, and no redemption or sinking fund provisions applicable to the Company’s common stock exist.

During each of the years ended December 31, 2023, 2022 and 2021, there were no dividends declared. There were no dividends paid for the year ended December 31, 2023 and less than $1 million was paid in distributions to those with other participating rights for each of the years ended December 31, 2022 and 2021. There were no dividends payable as of December 31, 2023 and 2022.