Shareholders’ Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Shareholders’ Equity

Note 11. Shareholders’ Equity

Accumulated Other Comprehensive Loss

Changes in components of accumulated other comprehensive loss (in thousands):

		Years Ended December 31,
		2021		2020
Foreign currency translation
	Accumulated other comprehensive loss, beginning of period	$	(60,641)	$	(61,323)
	Translation adjustments	(879)		909
	Napster disposition	—		(227)
	Net current period other comprehensive income (loss)	(879)		682
	Accumulated other comprehensive loss balance, end of period	$	(61,520)	$	(60,641)

Preferred Stock.    Each share of Series A preferred stock entitles the holder to one thousand votes and dividends equal to one thousand times the aggregate per share amount of dividends declared on the common stock. There are no shares of Series A preferred stock outstanding.

In February 2020, Mr. Glaser, Chairman of the Board and Chief Executive Officer of RealNetworks, invested approximately $10.0 million in RealNetworks in exchange for the issuance to him of 8,064,516 shares of Series B preferred stock. The Series B preferred stock is non-voting and is convertible into common stock on a one-to-one basis subject to the limitation described in Note 19. Related Party Transactions. The Series B preferred stock has no liquidation preference and no preferred dividends.

Undesignated preferred stock will have rights and preferences that are determinable by the Board of Directors if and when determination of a new series of preferred stock has been established.

Common Stock. In April 2021, we completed an underwritten public offering of 8,250,000 shares of common stock at a price to the public of $2.70 per share. The aggregate gross proceeds from the offering were $22.3 million. Of these proceeds, we received approximately $20.1 million, after deducting underwriting discounts, commissions, and legal and other fees. The proceeds are expected to be used for general corporate purposes and working capital.