Prior to the IPO, the Company had issued Series A-1 redeemable convertible preferred stock (“Series A-1”), Series A-2 redeemable convertible preferred stock (“Series A-2”) and Series B redeemable convertible preferred stock (“Series B” and collectively with the Series A-1 and Series A-2, “Redeemable Convertible Preferred Stock”).

In February 2019 and 2020, the Company issued and sold 88,750,000 and 44,375,000 shares of Series A-2, respectively, at a purchase price of $0.40 per share for total gross cash proceeds of $35.6 million.

In June 2020 and January 2021, the Company issued and sold 124,519,220 and 87,259,605 shares of Series B, respectively, at a purchase price of $0.52 per share for total gross cash proceeds of $110.1 million.

As of December 31, 2020, redeemable convertible preferred stock consisted of the following:

(in thousands, except share amounts)	Preferred Stock Authorized		Preferred Stock Issued and Outstanding		Carrying Value		Liquidation Value		Cumulative Undeclared Dividends		Common Stock Issuable Upon Conversion
Series A-1 redeemable convertible preferred stock		20,000,000		20,000,000	$	2	$	4,000	$	—		1,470,588
Series A-2 redeemable convertible preferred stock		107,194,866		107,194,866		42,786		42,878		5,073		7,881,965
Series B redeemable convertible preferred stock		211,778,825		124,519,220		64,548		64,750		2,625		9,155,810
Total		338,973,691		251,714,086	$	107,336	$	111,628	$	7,698		18,508,363