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Warrants to Purchase Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2021

Warrants And Rights Note Disclosure [Abstract]

Summary of Activity for Convertible Preferred Stock Warrants

The following table presents the activity for convertible preferred stock warrants (in thousands, except weighted average exercise price):

		Series E								Series G (1)
		Warrants				Weighted Average Exercise price				Warrants				Weighted Average Exercise price
Outstanding ‑ January 1, 2020			925			$	5.00				613			$	0.75
Granted			—				—				—				—
Forfeited/canceled			(925	)			(5.00	)			—				—
Exercised			—				—				—				—
Reclassification of warrant liability to additional paid-in capital			—				—				(613	)			(0.75	)
Outstanding ‑ December 31, 2020			—			$	—			$	—			$	—

(1) On October 27, 2020, all convertible preferred stock converted to common stock at the completion of our IPO, and as a consequence, the warrants to purchase Series G convertible preferred stock were converted to 103,326 warrants to purchase common stock at $4.46 per share, which have an expiration date of February 23, 2028. All common stock warrants remain outstanding as of December 31, 2021. 

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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- References

No definition available.

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