Subsequent Event

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Event

16. SUBSEQUENT EVENTS

Effective January 29, 2024, the Company suspended and terminated the prospectus (the ATM Prospectus) related to the sale of its Class A common stock in an “at-the-market” offering pursuant to the terms of the Sales Agreement (see Note 8). As a result, the Company will not make any sales of its Common Stock pursuant to the Sales Agreement unless and until a new prospectus, prospectus supplement or registration statement is filed. Deferred costs of $0.3 million were recognized as general and administrative expense upon termination of the ATM Prospectus.

On February 1, 2024, the Company completed a follow-on public offering pursuant to which the Company issued and sold 9,274,194 shares of its Class A common stock at an offering price of $31.00 per share, including the exercise in full by the underwriters of their option to purchase an additional 1,209,677 shares of Class A common stock. The Company received total net proceeds of approximately $269.6 million, after deducting underwriting discounts and commissions of $17.3 million, and offering costs of approximately $0.7 million.