Convertible Preferred Stock and Stockholders' Equity (Deficit)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Convertible Preferred Stock and Stockholders' Equity (Deficit)

8. Convertible Preferred Stock and Stockholders’ Equity (Deficit)

Convertible Preferred Stock

In connection with the Merger, as discussed in Note 1, the Company issued 30,629,606 shares of its common stock to holders of convertible preferred interests of Compass Therapeutics LLC.  No convertible preferred securities were outstanding as of September 30, 2020.    

As of December 31, 2019, convertible preferred stock consisted of the following shares outstanding:

Preferred Stock	Shares Issued and Outstanding
Series A-1		64,704,832
Series A-2		36,782,734
Series A-3		23,467,151
Series A-4		15,253,415
Series A4B		22,216,583
Series A-5		44,739,689
		207,164,404

Common Stock

In connection with the Merger, as discussed in Note 1, the Company issued 1,000,000 shares of common stock to the former shareholders of Olivia Ventures Inc. The Company paid $69,000 to several nonaccredited investors of Compass Therapeutics LLC in lieu of issuing shares.   In addition, 2,930,836 shares of the Company’s common stock were reserved for issuance under the 2020 Stock Option and Incentive Plan.

The Company also sold 12,096,442 shares of its common stock pursuant to the closing of a private placement offering at a purchase price of $5.00 per share.