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Convertible Preferred Stock
9 Months Ended
Sep. 30, 2020
Temporary Equity Disclosure [Abstract]  
Convertible Preferred Stock Convertible Preferred Stock
As of September 30, 2020, all shares of convertible preferred stock were converted into 31,557,107 shares of common stock in connection with the closing of the IPO (See Note 10). As of September 30, 2020, there was no preferred stock outstanding.
    As of December 31, 2019, the Company’s certificate of incorporation, as amended and restated, authorized the Company to issue 31,557,107 shares of par value $0.00001 per share convertible preferred stock. The holders of convertible preferred stock have liquidation rights in the event of a deemed liquidation that, in certain situations, are not solely within the control of the Company. Therefore, the convertible preferred stock is classified outside of stockholders’ equity (deficit) on the condensed consolidated balance sheet.
As of December 31, 2019, preferred stock consisted of the following ($ in millions, except for share amounts):
As of
December 31, 2019
Preferred
Stock
Authorized
Preferred
Stock
Issued and
Outstanding
Carrying
Value
Liquidation
Preference
Common Stock
Issuable Upon
Conversion
Series Seed Preferred stock7,905,140 7,905,140 $12.9 $13.0 7,905,140 
Series A Preferred stock3,328,774 3,328,774 14.0 13.6 3,328,774 
Series B Preferred stock4,511,417 4,511,417 34.1 34.1 4,511,417 
Series C Preferred stock8,703,846 8,703,846 119.8 120.1 8,703,846 
Series D Preferred stock7,107,930 7,107,930 299.4 300.0 7,107,930 
31,557,107 31,557,107 $480.2 $480.8 31,557,107