1 unchanged sentence
(a) Recent Sales of Unregistered Equity Securities
−Removed: On November 2, 2021, upon the closing of our IPO, all 308,332,857 shares of our then-outstanding convertible preferred stock automatically converted into 22,550,561 shares of our common stock.
−Removed: The issuance of such common stock was exempt from the registration requirements of the Securities Act, pursuant to Section 3(a)(9) of the Securities Act, involving an exchange of securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.
−Removed: No underwriters were involved in this issuance of shares.
−Removed: During the period between January 1, 2021 and September 30, 2021, we issued to certain of our employees, advisors and directors, options to purchase an aggregate of 1,883,480 shares of our common stock at an average exercise price of $6.13 per share.
−Removed: We deemed these issuances to be exempt from registration under the Securities Act in reliance on Rule 701 of the Securities Act as sales and offers under compensatory benefit or Section 4(a)(2) of the Securities Act as sales and offers not involving a public offering.
(b) Use of Proceeds from Initial Public Offering of Common Stock
11 unchanged sentences
We plan to invest the funds received in cash equivalents and other marketable securities in accordance with our investment policy.
−Removed: (a) Issuer Purchases of Equity Securities
+Added: (c) Issuer Purchases of Equity Securities
Defaults Upon Senior Securities.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.