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Convertible Preferred Stock
3 Months Ended
Mar. 31, 2016
Convertible Preferred Stock  
Convertible Preferred Stock

 

7. Convertible Preferred Stock

 

Under the amended and restated certificate of incorporation in effect as of March 31, 2016, the Company is authorized to issue two classes of stock: convertible preferred stock and common stock.

 

Immediately prior to the consummation of the IPO on March 29, 2016, all outstanding shares of Series A and B convertible preferred stock were converted into 14,274,741 shares of common stock on a one-for-one basis.

 

Convertible preferred stock as of December 31, 2015 consisted of the following (in thousands, except share data):

 

 

 

 

 

Shares

 

Net

 

 

 

 

 

Shares

 

Issued

 

Carrying

 

Liquidation

 

 

 

Authorized

 

& Outstanding

 

Value

 

Value

 

Series A

 

8,921,429 

 

8,921,429 

 

$

50,941 

 

$

33,500 

 

Series B

 

5,353,312 

 

5,353,312 

 

74,839 

 

75,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

14,274,741 

 

14,274,741 

 

$

125,780 

 

$

108,500