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Stockholders’ and Members’ Deficit
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Stockholders’ and Members’ Deficit

8. Stockholders’ and Members’ Deficit

 

Common Stock

 

The Company had 3,758,488 shares of its common stock issued and outstanding as of June 30, 2016 and December 31, 2015. Voting, dividend and liquidation rights of the holders of the common stock are subject to the Company’s articles of incorporation, corporate bylaws and underlying shareholder agreements.

 

Dividend Rights

 

Common stock holders are entitled to receive dividends at the sole discretion of the board of directors of the Company. There have been no dividends declared on common stock as of June 30, 2016.

 

Voting Rights

 

The holders of common stock are entitled to one vote for each share of common stock along with all other classes and series of stock of the Company on all actions to be taken by the stockholders of the Company, including actions that would amend the certificate of incorporation of the Company to increase the number of authorized shares of the common stock.

 

Liquidation Rights

 

In the event of any liquidation, dissolution, or winding‑up of the Company, the holders of common stock shall be entitled to share in the remaining assets of the Company available for distribution post preferential distributions made to the Series A preferred stockholders.

 

Deferred Offering Costs

 

Deferred offering costs, primarily consisting of legal, accounting and other direct fees and costs relating to the IPO, are capitalized. There were $1.7 million and $0.8 million in deferred offering costs capitalized as of June 30, 2016 and December 31, 2015, respectively. The deferred offering costs were offset against the Company’s IPO proceeds upon the closing of the offering in August 2016.