Annual report pursuant to Section 13 and 15(d)

Mezzanine Equity (Tables)

v3.20.4
Mezzanine Equity (Tables)
12 Months Ended
Dec. 31, 2020
Temporary Equity Disclosure [Abstract]  
Summary of Series A and Series B Redeemable Convertible Preferred Stock (Series A and Series B Preferred Stock) Activities

The following table summarizes the Company’s Series A Redeemable Convertible Preferred Stock, par value $0.0001 per share (“Series A preferred stock”) activities for the year ended December 31, 2020:

 

 

 

Shares

 

 

Amount

 

Series A preferred stock as of December 31, 2019

 

 

55,000

 

 

$

38,928

 

Deemed and imputed dividends on Series A preferred stock

 

 

-

 

 

 

11,666

 

Accrued Series A preferred stock dividends

 

 

-

 

 

 

7,214

 

Conversion of Series A preferred stock to Class A common stock

 

 

(5,000

)

 

 

(5,032

)

Series A preferred stock as of December 31, 2020

 

 

50,000

 

 

$

52,776

 

 

The following table summarizes the Company’s Series B Redeemable Convertible Preferred Stock, par value $0.0001 per share (“Series B preferred stock”) activities for the year ended December 31, 2020:

 

 

Shares

 

 

Amount

 

Series B preferred stock as of December 31, 2019

$

-

 

 

$

-

 

Proceeds from issuance of Series B preferred stock

 

21,000

 

 

 

21,000

 

Issuance of Series B preferred stock to senior secured term loan

   lenders

 

1,050

 

 

 

1,050

 

Issuance cost associated with Series B preferred stock

 

-

 

 

 

(1,413

)

Accrued Series B preferred stock dividends

 

-

 

 

 

2,049

 

Series B preferred stock as of December 31, 2020

 

22,050

 

 

$

22,686