Inogen, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Warrants

Warrants

12 Months Ended

Dec. 31, 2014

9. Warrants

In connection with certain of its redeemable convertible preferred stock issuances, convertible debt financings, and other financing arrangements the Company has issued warrants for shares of its common stock and various issues of its redeemable convertible preferred stock. Such warrants related to its redeemable convertible preferred stock have been recorded as liabilities as a result of non-standard anti-dilution rights and are carried at their estimated fair value using the Monte Carlo valuation model.

A summary of outstanding warrants at December 31, 2014 is as follows:

	Number of		Exercise		Expiration
Security	warrants		price/share		date
Common stock		15,218	$	0.30	2017-2019

A summary of outstanding warrants at December 31, 2013 is as follows:

	Number of		Exercise		Expiration
Security	warrants		price/share		date
Series C redeemable convertible preferred stock warrants		14,215	$	17.580	2015
Series D redeemable convertible preferred stock warrants		11,415		21.900	2013-2014
Series E redeemable convertible preferred stock warrants		3,120		9.612	2015
Series E redeemable convertible preferred stock warrants		1,102		9.612	2016
Common stock		233,611		0.300	2017-2019
		263,463

A rollforward of warrant activity from January 1, 2013 to December 31, 2014 is as follows:

	Issued and						Issued and
	outstanding						outstanding
	warrants as of		Warrants		Warrants		warrants as of
	January 1, 2014		exercised		expired		December 31, 2014
Series C preferred		14,215		11,459		2,756		—
Series D preferred		11,415		11,415		—		—
Series E preferred		4,222		4,222		—		—
Common stock		233,611		218,393		—		15,218
		263,463		245,489		2,756		15,218

	Issued and						Issued and
	outstanding						outstanding
	warrants as of		Warrants		Warrants		warrants as of
	January 1, 2013		exercised		expired		December 31, 2013
Series C preferred		14,215		—		—		14,215
Series D preferred		132,169		85,895		34,859		11,415
Series E preferred		4,222		—		—		4,222
Common stock		233,611		—		—		233,611
		384,217		85,895		34,859		263,463

The fair value of the preferred warrant liability was $0 and $260 at December 31, 2014 and 2013, respectively. During the years ended December 31, 2014 and 2013, the Company recorded a gain/(loss) of $36 and ($262), respectively, on the change in fair value of the preferred warrants.