| Schedule of Preferred Shares Activity |
The Company’s Preferred Shares activities for the years ended December 31, 2020 and 2021 are summarized in the following table:
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Series A Preferred Shares |
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Series B Preferred Shares |
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Series B+ Preferred Shares |
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Series C Preferred Shares |
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Series C+ Preferred Shares |
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Balances as of January 1, 2020 |
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55,626,960 |
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$ |
90,050 |
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50,783,698 |
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$ |
30,046 |
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26,651,410 |
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$ |
46,274 |
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34,793,413 |
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$ |
73,600 |
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— |
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$ |
— |
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$ |
239,970 |
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Issuance of convertible redeemable preferred shares, net of issuance costs |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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15,062,510 |
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50,000 |
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50,000 |
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Accretion on convertible redeemable preferred shares to redemption value |
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— |
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188,085 |
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— |
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45 |
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— |
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197 |
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— |
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3,006 |
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— |
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2,133 |
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193,466 |
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Conversion of convertible redeemable preferred shares upon completion of the IPO |
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(55,626,960 |
) |
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(278,135 |
) |
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(50,783,698 |
) |
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(30,091 |
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(26,651,410 |
) |
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(46,471 |
) |
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(34,793,413 |
) |
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(76,606 |
) |
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(15,062,510 |
) |
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(52,133 |
) |
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(483,436 |
) |
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Balances as of December 31, 2020 and 2021 |
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— |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
— |
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$ |
— |
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