XML 27 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Convertible Preferred Stock
9 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]  
Convertible Preferred Stock

8. Convertible Preferred Stock

In March 2020, the Company sold 42,905,042 shares of its Series C convertible preferred stock at a price of $11.49 per share for proceeds of $492.5 million, net of issuance costs of $0.5 million.

In March 2020, the Company repurchased 546,806 shares of its Series A convertible preferred stock from a related party for a purchase price of $4.2 million.

Upon the closing of the IPO, 194,474,431 shares of convertible preferred stock then outstanding converted into an equivalent number of shares of common stock. As of September 30, 2021, no shares of convertible preferred stock were outstanding.