9. Redeemable Convertible Preferred Stock

In April 2016, 1,999,998 shares of Series B redeemable convertible preferred stock were issued in connection with the exercise of warrants for cash proceeds of $20,000.

Following the closing of the IPO, all outstanding shares of the redeemable convertible preferred stock converted into 8,577,571 shares of common stock and the related carrying value was reclassified to common stock and additional paid-in capital. There were no shares of redeemable convertible preferred stock outstanding as of September 30, 2016.

The table below provides information on the Company’s redeemable convertible preferred stock as of December 31, 2015 (in thousands, except shares and original issue price):


			Shares
	Original Issue Price		Authorized		Issued and Outstanding		Carrying Value		Aggregate Liquidation Preference
Series A	$	1.00		6,037,500		6,037,500	$	1,751	$	6,038
Series B	$	0.50		40,000,000		36,000,000		18,825		18,000
Series C	$	0.4979		80,337,411		35,147,617		16,420		17,500

Total redeemable convertible preferred stock				126,374,911		77,185,117	$	36,996	$	41,538

The Company recorded $293,000 and $558,000 for the accretion of the redeemable convertible preferred stock during the three and nine months ended September 30, 2016, respectively. The Company recorded $36,000 for the accretion of the redeemable convertible preferred stock during the three and nine months ended September 30, 2015.