Annual report pursuant to Section 13 and 15(d)

Redeemable Convertible Preferred Stock

v3.19.1
Redeemable Convertible Preferred Stock
 12 Months Ended
Dec. 31, 2018
Temporary Equity Disclosure [Abstract]  
Redeemable Convertible Preferred Stock

NOTE 11 — REDEEMABLE CONVERTIBLE PREFERRED STOCK

 

On August 1, 2017, the Company’s preferred stock was converted to common shares as a result of the Merger. The outstanding 9,116,405 shares of preferred stock, along with preferred dividends converted to 3,912,892, were converted to 13,029,297 shares of common stock.  These common shares were converted upon merger to 9,220,478 shares of the merged entity.  Refer to Footnote 3: Merger with Private Molecular, for further details on the Merger.

The following table presents changes in the preferred stock during the year ended December 31, 2017 (in thousands):

 

 

 

Series A

Preferred

 

 

Series B

Preferred

 

 

Series C

Preferred

 

 

Total

 

Balance at December 31, 2016

 

$

3,889

 

 

$

5,480

 

 

$

16,502

 

 

$

25,871

 

Deemed dividends on preferred stock

 

 

119

 

 

 

178

 

 

 

661

 

 

 

958

 

Conversion to common stock in merger

 

 

(4,008

)

 

 

(5,658

)

 

 

(17,163

)

 

 

(26,829

)

Balance at December 31, 2017

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—