Redeemable Convertible Preferred Stock

12 Months Ended

Dec. 31, 2021

10. REDEEMABLE CONVERTIBLE PREFERRED STOCK

In September 2020, the Company sold an aggregate of 6,902,872 shares of its series D redeemable convertible preferred stock (“Series D”) at a purchase price of $13.0381 per share, for gross proceeds of $90.0 million. The Company incurred issuance costs of $0.1 million associated with the Series D issuance.

Upon the completion of the IPO, all 31,253,609 shares of outstanding preferred stock automatically converted into 31,253,609 shares of common stock. As of December 31, 2021, there were no shares of preferred stock authorized, issued, or outstanding.

As of December 31, 2020, preferred stock consisted of the following (in thousands, except share amounts):


	DECEMBER 31, 2020
	PREFERRED STOCK AUTHORIZED		PREFERRED STOCK ISSUED AND OUTSTANDING		CARRYING VALUE		LIQUIDATION VALUE		COMMON STOCK ISSUABLE UPON CONVERSION
Series A		167,496,750		11,596,280	$	53,593	$	40,115		11,596,280
Series B		74,620,739		5,166,203		36,336		36,400		5,166,203
Series C		109,604,994		7,588,254		53,221		53,465		7,588,254
Series D		99,705,359		6,902,872		89,904		90,000		6,902,872
		451,427,842		31,253,609	$	233,054	$	219,980		31,253,609