4 unchanged sentences
Holders of our Common Stock
−Removed: As of March 1, 2025, there were approximately 39 holders of record of shares of our common stock.
+Added: As of February 1, 2026, there were approximately 10 holders of record of shares of our common stock.
This number does not include stockholders for whom shares are held in "nominee" or "street" name.
4 unchanged sentences
On February 6, 2025, the SEC declared effective our registration statement on Form S-1 (File No.
−Removed: 333-284352), as amended, filed in connection with our IPO (the "Registration Statement").
+Added: 333-284352), as amended (the "Registration Statement"), filed in connection with our initial public offering (the "IPO").
Pursuant to the Registration Statement, we registered the offer and sale of 12,176,467 shares of our common stock with a proposed maximum aggregate offering price of approximately $219.2 million.
4 unchanged sentences
There has been no material change in the expected use of the net proceeds from our IPO as described in our final prospectus filed with the SEC pursuant to Rule 424(b) of the Securities Act on February 7, 2025.
−Removed: We are holding a significant portion of the balance of the net proceeds in money market funds.
+Added: We continue to hold a significant portion of the balance of the net proceeds in cash equivalents and marketable securities.
There has been no material change in the planned proceeds from our IPO, as described in our final prospectus filed with the SEC on February 7, 2025 pursuant to Rule 424(b) under the Securities Act.
3 unchanged sentences
Unregistered Sales of Equity Securities
−Removed: On March 4, 2024, in an initial closing and a subsequent closing, we issued and sold 17,717,162 and 911,808 shares of Series C preferred stock, respectively, representing an aggregate of 18,628,970 shares of
−Removed: Series C preferred stock, at a purchase price of $9.762 per share for aggregate purchase price of approximately $181.9 million.
−Removed: Set forth below is information regarding stock options granted by us and exercised during the period covered by this Annual Report on Form 10-K that were not registered under the Securities Act of 1933, as amended, or 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 under which exemption from registration was claimed.
−Removed: From January 1, 2024 to December 31, 2024, we issued to certain of our employees and officers options to purchase an aggregate of 6,067,289 shares of our common stock under our 2020 Stock Option and Incentive Plan (the "2020 Plan") at a weighted-average exercise price of $5.87 per share.
−Removed: During this period, 3,700,335 shares of common stock were issued upon the exercise of options pursuant to the 2020 Plan.
−Removed: No underwriters were involved in the foregoing issuances of securities.
−Removed: The issuances of the securities described above were deemed to be exempt from registration pursuant to Section 4(a)(2) of the Securities Act as transactions by an issuer not involving a public offering or Rule 701 promulgated under the Securities Act as transactions pursuant to compensatory benefit plans.
−Removed: All recipients either received adequate information about us or had access, through employment or other relationships, to such information.
−Removed: On February 7, 2025, we filed a registration statement on Form S-8 under the Securities Act to register all of the shares of our common stock subject to outstanding options and all shares of our common stock otherwise issuable pursuant to our equity compensation plans.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
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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.