1 unchanged sentence
Certain Information Regarding the Trading of Our Common Stock
−Removed: Our common stock trades under the symbol “PRAX” on the Nasdaq Global Select Market and has been publicly traded since October 16, 2020.
−Removed: Prior to this time, there was no public market for our common stock.
+Added: Our common stock trades under the symbol “PRAX” on the Nasdaq Global Select Market.
Holders of Our Common Stock
−Removed: As of March 1, 2021, there were approximately 41 holders of record of shares of our common stock.
−Removed: This number does not include stockholders for whom shares are held in “nominee” or “street” name.
+Added: As of February 18, 2022, there were approximately 4 holders of record of shares of our common stock.
+Added: The actual number of stockholders is greater than this number of record holders, and includes stockholders who are beneficial owners, but whose shares are held in street name by brokers and other nominees.
Dividend Policy
2 unchanged sentences
Recent Sales of Unregistered Securities
−Removed: Set forth below is information regarding shares of our common stock, shares of our preferred stock issued, and stock options granted by us during the period covered by this Annual Report on Form 10-K that were not registered under the Securities Act.
−Removed: Included is the consideration, if any, we received for such shares and options and information relating to the section of the Securities Act, or rule of the Securities and Exchange Commission, under which exemption from registration was claimed.
−Removed: Issuances of Capital Stock
−Removed: On April 15, 2020 and May 8, 2020, we completed closings for the sale and issuance of 4,563,108 shares of Series C redeemable convertible preferred stock at $5.15 per share for aggregate cash proceeds of $23.5 million, net of issuance costs.
−Removed: No underwriters were involved in the foregoing sales of securities.
−Removed: The sales of securities described above were deemed to be exempt from registration pursuant to Section 4(a)(2) of the Securities Act, including Regulation D and Rule 506 promulgated thereunder, as transactions by an issuer not involving a public offering.
−Removed: All of the purchasers in these transactions represented to us in connection with their purchase that they were acquiring the securities for investment and not distribution, that they could bear the risks of the investment and could hold the securities for an indefinite period of time.
−Removed: Such purchasers received written disclosures that the securities had not been registered under the Securities Act and that any resale must be made pursuant to a registration or an available exemption from such registration.
−Removed: All of the foregoing securities are deemed restricted securities for the purposes of the Securities Act.
−Removed: Option Issuances
−Removed: On October 15, 2020, and prior to our Registration Statement on Form S-8 going effective on October 16, 2020, we granted to employees options to purchase an aggregate of 37,615 shares of our common stock, with an exercise price of $19.00 per share, pursuant to our 2020 Stock Option and Incentive Plan.
−Removed: Shares Authorized for Issuance Under Equity Compensation Plans
−Removed: The information required by Item 5 of Form 10-K regarding equity compensation plans is incorporated herein by reference to Item 12 of Part III of this Annual Report on Form 10-K.
+Added: We did not make any sales of unregistered securities during the three months ended December 31, 2021.
Use of Proceeds from Initial Public Offering
1 unchanged sentence
All of the shares issued and sold in the IPO were registered under the Securities Act pursuant to a Registration Statement on Form S‑1 (File No.
−Removed: 333-249074), which was declared effective by the Securities and Exchange Commission, or the SEC, on October 15, 2020.
−Removed: Following the sale of all shares, including shares sold pursuant to the underwriters' option to purchase an additional 1,500,000 shares exercised in October 2020, the offering terminated.
−Removed: Cowen and Company, LLC, Evercore Group L.L.C.
−Removed: and Piper Sandler & Co.
−Removed: acted as joint book-running managers, Wedbush Securities Inc.
−Removed: acted as lead manager and Blackstone Securities Partners L.P.
−Removed: acted as co-manager of the IPO.
−Removed: We received aggregate gross proceeds from our IPO of approximately $218.5 million, or aggregate net cash proceeds of approximately $200.3 million after deducting underwriting discounts and commissions and offering expenses.
−Removed: None of the underwriting discounts and commissions or offering expenses were incurred or paid to directors or officers of ours or their associates or to persons owning 10% or more of our common stock or to any of our affiliates.
−Removed: Information related to use of proceeds from registered securities is incorporated herein by reference to the “Use of Proceeds” section of our final prospectus filed pursuant to Rule 424(b)(4) under the Securities Act with the SEC on October 16, 2020.
−Removed: There has been no material change in the planned use of proceeds from our IPO as described in our final prospectus.
−Removed: Issuer Purchases of Equity Securities
+Added: 333-249074), which was declared effective by the Securities and Exchange Commission on October 15, 2020.
+Added: Purchases of Equity Securities by the Issuer and Affiliated Purchasers
+Added: There were no repurchases of shares of common stock made during the three months ended December 31, 2021.
Selected Financial Data
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.