Convertible Preferred Stock
|6 Months Ended|
Jun. 30, 2014
|Convertible Preferred Stock||
7. Convertible preferred stock
A summary of the terms of the various types of redeemable convertible preferred stock at June 30, 2014, and December 31, 2013 is as follows:
A summary of the terms of non-redeemable convertible preferred stock at June 30, 2014 and December 31, 2013 is as follows:
All outstanding preferred stock automatically converted into common stock in connection with the closing of the IPO. At the closing of the IPO, 9,564,140 shares of redeemable convertible preferred stock and 66,666 shares of convertible preferred stock were automatically converted into 14,259,647 shares of common stock. Following the IPO, all warrants previously exercisable for preferred stock became exercisable for common stock. The previously reported warrant liability associated with the convertible warrants was applied to additional paid-in-capital.
The Company’s Series C preferred stock warrants expired in connection with the IPO. As of February 20, 2014, 2,756 Series C preferred stock warrants were forfeited and cancelled since they were not exercised prior to the IPO.
The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock.
No definition available.