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CONVERTIBLE PREFERRED STOCK (Tables)

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Summary of Authorized, Issued and Outstanding Convertible Preferred Stock

The following table summarizes the authorized, issued and outstanding Convertible Preferred Stock of Legacy Hyperfine immediately prior to the Business Combination:

Class		Year of Class Issuance				Issuance Price per share				Shares Authorized				Shares Issued and Outstanding				Total Proceeds or Exchange Value				Issuance Costs				Net Carrying Value				Initial Liquidation Price per share
Series A			2014			$	0.04				25,000,000				25,000,000			$	1,000			$	2			$	998			$	0.80
Series B			2017				0.80				10,625,000				10,625,000				8,500				—				8,500				0.80
Series C			2017				1.88				31,586,210				31,586,210				59,382				234				59,148				1.88
Series D			2020-2021				2.15				62,577,618				41,970,981				90,237				136				90,101				2.15
											129,788,828				109,182,191			$	159,119			$	372			$	158,747

The following table summarizes the authorized, issued and outstanding Convertible Preferred Stock of Legacy Hyperfine as of December 31, 2020:

Class		Year of Class Issuance				Issuance Price per share				Shares Authorized				Shares Issued and Outstanding				Total Proceeds or Exchange Value				Issuance Costs				Net Carrying Value				Initial Liquidation Price per share
Series A			2014			$	0.04				25,000,000				25,000,000			$	1,000			$	2			$	998			$	0.80
Series B			2017				0.80				10,625,000				10,625,000				8,500				—				8,500				0.80
Series C			2017				1.88				31,586,210				31,586,210				59,382				234				59,148				1.88
Series D			2020				2.15				62,577,618				27,799,648				59,769				129				59,640				2.15
											129,788,828				95,010,858			$	128,651			$	365			$	128,286

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

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