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RELATED PARTY TRANSACTIONS
3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
NOTE 11: RELATED PARTY TRANSACTIONS
Related party transactions may include any transaction between entities under common control or with a related party. We have defined related parties as members of the Board of Directors, executive officers, principal owners of our outstanding stock and any immediate family members of each such related party, as well as any other person or entity with significant influence over our management or operations and any other affiliates.
In February 2021, we issued two tranches of convertible notes and granted to each purchaser of the Tranche I convertible notes a warrant to purchase equity securities (see Note 5 for further information). Two of the Tranche I investors were related parties prior to the completion of our IPO.
Pursuant to Rule 15c3-1 under the Exchange Act (the “SEC Uniform Net Capital Rule”), capital contributed to RHS is included in its net capital calculation and may not be withdrawn for one year from the time of contribution. A total of $2.0 billion of the gross proceeds received from the convertible note issuance was contributed to RHS in February 2021 and the restriction lapsed in February 2022. No capital has been returned to the parent company.