UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
−Removed: In June 2020, we issued 6,123 shares of preferred stock to 80 employees for services rendered.
−Removed: The issuance of the preferred stock to 69 of the employees was exempt from registration under Regulation S promulgated under the Securities Act of 1933 as amended (the “Securities Act”), because the shares were issued outside of the United States to non-US persons (as defined in Regulation S).
−Removed: The issuance to 11 employees who are US persons was exempt under Section 4(a)(2) of the Securities Act.
−Removed: In June 2020, we also issued 363 shares of preferred stock to three employees for cash at a price of $12.17 per share.
−Removed: The issuance of the preferred stock to two of the employees was exempt from registration under Regulation S promulgated under the Securities Act because the shares were issued outside of the United States to non-US persons (as defined in Regulation S).
−Removed: One employee is a US person and the issuance of such shares to him was exempt under Section 4(a)(2) of the Securities Act.
−Removed: The US person is knowledgeable, sophisticated and experienced in making investment decisions of this kind and received adequate information about us or had adequate access, including through the employee's business relationship with us, to information about us.
+Added: In July 2020, we issued 472 shares of preferred stock to five employees for cash at a price of $12.17 per share.
+Added: If the employee remains employed by us through the fourth anniversary of the grant date, the preferred stock can be converted into shares of common stock on a one for one basis.
+Added: The issuance of the preferred stock to the employees was exempt from registration under Regulation S promulgated under the Securities Act because the shares were issued outside of the United States to non-US persons (as defined in Regulation S).
Exhibit Description
17 unchanged sentences
(Principal Financial and Accounting Officer)
−Removed: August 14, 2020
+Added: November 16, 2020
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.