Molecular Templates, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Redeemable Convertible Preferred Stock

Redeemable Convertible Preferred Stock

9 Months Ended

Sep. 30, 2017

Temporary Equity Disclosure [Abstract]

NOTE 10 — REDEEMABLE CONVERTIBLE PREFERRED STOCK

The following is a summary of the Company’s redeemable convertible preferred stock at September 30, 2017 and December 31, 2016 (collectively, the “Preferred Stock”):

					Shares Issued and Outstanding
	Par Value		Shares Authorized		September 30, 2017		December 31, 2016
Series A Preferred Stock	$	0.001		2,500,000		—		2,500,000
Series B Preferred Stock	$	0.001		2,273,531		—		2,273,531
Series C Preferred Stock	$	0.001		4,391,748		—		4,342,874
Total				9,165,279		—		9,116,405

On August 1, 2017, the Company’s preferred stock was converted to common shares as a result of the Merger.

The following table presents changes in the preferred stock:

	Series A Preferred			Series B Preferred			Series C Preferred			Total
Balance at December 31, 2016	$	3,889,257		$	5,480,130		$	16,501,938		$	25,871,325
Deemed dividends on preferred stock		119,406			178,129			660,765			958,300
Conversion to common stock in merger		(4,008,663	)		(5,658,259	)		(17,162,703	)		(26,829,625	)
Balance at September 30, 2017	$	—		$	—		$	—		$	—