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Convertible Preferred Stock and Stockholders' Equity
 3 Months Ended
Mar. 31, 2022
Convertible Preferred Stock and Stockholders' Deficit  
Convertible Preferred Stock and Stockholders' Equity

7. Convertible Preferred Stock and Stockholders’ Equity

Series A Convertible Preferred Stock

As of March 31, 2022, there were no shares of Series A convertible preferred stock outstanding. In connection with the IPO (Note 1) in April 2021, all outstanding shares of Series A convertible preferred stock were converted into 5,430,957 shares of common stock.

Series B Convertible Preferred Stock

As of March 31, 2022, there were no shares of Series B convertible preferred stock outstanding. In March 2021, the Company completed milestone closing of it’s the Series B convertible preferred stock financing and sold a total of 23,440,514 shares of Series B convertible preferred stock, at $2.0215 per share for aggregate net proceeds of approximately $47.4 million.

In connection with the IPO in April 2021, all outstanding shares of Series B convertible preferred stock were converted into 10,476,672 shares of common stock.