Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity and Redeemable Convertible Preferred Stock

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Stockholders' Equity and Redeemable Convertible Preferred Stock
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Stockholders' Equity and Redeemable Convertible Preferred Stock

Note 15. Stockholders’ Equity and Redeemable Convertible Preferred Stock

Amended and Restated Certification of Incorporation

In accordance with the Company's Amended and Restated Certificate of Incorporation dated November 15, 2021, the Company is authorized to issue up to 300,000,000 shares of common stock with a par value of $0.0001 per share and up to 10,000,000 shares of undesignated preferred stock with a par value of $0.0001 per share.

Common Stock

As of June 30, 2022, the Company had one class of common stock with a par value of $0.0001. There were 13,280,402 shares issued and outstanding as of June 30, 2022.

In November 2021, the Company completed its IPO through an underwritten sale of 1,692,308 shares of its common stock at a price of $13.00 per share. The aggregate proceeds from the offering, after deducting underwriting discounts and commissions and other offering expenses, were approximately $17.7 million. Additionally, the Company entered into a six-month consulting agreement for investor relations through which the consultant was compensated with 50,000 shares of common stock and cash consideration of $0.5 million.

Preferred Stock

As of June 30, 2022, the Company had one class of undesignated preferred stock with a par value of $0.0001. There were no preferred shares issued and outstanding as of June 30, 2022.

Redeemable Convertible Preferred Stock

The Company previously issued redeemable convertible preferred stock prior to the IPO. Concurrent with the closing of the IPO in November 2021, all then-outstanding shares of the Company's redeemable convertible preferred stock were automatically converted into an aggregate of 8,395,808 shares of common stock and were reclassified into permanent equity. Following the IPO and as of June 30, 2022, there were no shares of redeemable convertible preferred stock outstanding.