Annual report pursuant to Section 13 and 15(d)

Redeemable Convertible Preferred Stock and Related Warrants and Option

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Redeemable Convertible Preferred Stock and Related Warrants and Option
12 Months Ended
Dec. 31, 2021
Temporary Equity Disclosure [Abstract]  
Redeemable Convertible Preferred Stock and Related Warrants and Option Redeemable Convertible Preferred Stock and Related Warrants and Option
Upon closing of the IPO, all 42,778,408 shares of the Company’s then-outstanding redeemable convertible preferred stock, including the option to purchase 1,935,789 shared which was exercised in April 2021, automatically converted to a one-to-one basis to shares of Class B common stock.

Significant terms of the outstanding redeemable convertible preferred stock at December 31, 2020, were as follows (in thousands, except share amounts):
Shares
Carrying
Value
Authorized
Issued and
Outstanding
Series A
6,952,382 6,952,382 $ 7,017
Series B
9,108,214 9,108,214 15,028
Series C
5,785,212 5,589,220 29,836
Series D
9,711,291 9,495,659 87,853
Series E
10,000,000 9,697,144 91,769
Balance at December 31, 2020 41,557,099 40,842,619 $ 231,503
Preferred Stock
In connection with the IPO, the Company amended and restated its certificate of incorporation, which authorized 100,000,000 shares of undesignated preferred stock, with a par value of $0.001. As of December 31, 2021, there were 100,000,000 shares of preferred stock authorized and zero shares of preferred stock outstanding.
Preferred Stock Warrants

On September 24, 2021, after the closing of the Company’s IPO, the warrants to purchase 411,624 shares of preferred stock, all related to the Company’s debt, were exercised in a cashless exercise for a net amount of $344,085 Class B common stock.