Redeemable Convertible Preferred Stock and related warrants and option
|9 Months Ended|
Sep. 30, 2021
|Temporary Equity Disclosure [Abstract]|
|Redeemable Convertible Preferred Stock and related warrants and option||Redeemable Convertible Preferred Stock and related warrants and option
Redeemable Convertible Preferred Stock
Upon the 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 shares which was exercised in April 2021, automatically converted on 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):
In connection with the IPO, the Company amended and restated its certificate of incorporation, which became effective immediately prior to the closing of the Company’s offering, which authorized 100,000,000 shares of undesignated preferred stock, with a par value of $0.001. As of September 30, 2021, there were 100,000,000 shares of preferred stock authorized and zero shares of preferred stock outstanding.
Preferred Stock Warrants
In 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.