Common Stock

6 Months Ended

Jun. 30, 2024

Common Stock

Common Stock

11.Common Stock

In July 2023, the Company completed its IPO, selling an aggregate 20,297,500 shares of common stock. All outstanding preferred units were exchanged into 24,987,750 shares of common stock in connection with the IPO. Following the IPO, the Company is authorized to issue 400,000,000 shares of common stock, par value $0.00001. In March 2024, the Company issued and sold an aggregate of 7,790,321 shares of its common stock in an underwritten public offering.

As of June 30, 2024, 58,481,214 and 56,676,465 shares of common stock were issued and outstanding, respectively. The 58,481,214 shares of common stock issued is comprised of 44,994,572 shares of voting common stock and 13,486,642 shares of non-voting common stock. As of June 30, 2024, there were 1,804,749 shares of unvested restricted common stock included within the shares of common stock issued.

As of December 31, 2023, 50,655,671 and 48,338,769 shares of common stock were issued and outstanding, respectively. The 50,655,671 shares of common stock issued is comprised of 37,169,029 shares of voting common stock and 13,486,642 shares of non-voting common stock. As of December 31, 2023, there were 2,316,902 shares of unvested restricted common stock included within the shares of common stock issued.