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Common Stock

12 Months Ended

Dec. 31, 2022

Common Stock.

8. Common Stock

The Company is authorized to issue up to 250,000,000 shares of common stock with a par value of $0.001 per share, and 10,000,000 shares of preferred stock with a par value of $0.001 per share. As of December 31, 2022 and 2021, there were 28,991,548 and 22,230,032 shares of common stock issued and outstanding, respectively.

On October 13, 2021, in connection with the completion of the Company’s IPO, 2,819,027 shares of Series A convertible preferred stock, 3,730,366 shares of Series A-1 convertible preferred stock, 3,565,063 shares of Series A-2 convertible preferred stock, 30,409,890 shares of Series B convertible preferred stock, and 10,926,089 shares of Series B-1 convertible preferred stock automatically converted into 15,906,537 shares of common stock.

Common stockholders are entitled to dividends if and when declared by the Company’s board of directors subject to the rights of the preferred stockholders. As of December 31, 2022, no dividends on common stock had been declared by the Company.

As of December 31, 2022 and 2021, the Company has reserved the following shares of common stock for issuance as follows:


		December 31,
		2022		2021
Options issued and outstanding		3,679,468		5,640,438
Shares available for future issuance under 2021 Plan		2,561,085		1,242,271
Shares available for future issuance under ESPP		209,532		209,532
Total		6,450,085		7,092,241