Convertible Preferred Stock and Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Convertible Preferred Stock and Stockholders' Equity (Deficit)

8. Convertible Preferred Stock and Stockholders’ Equity (Deficit)

Convertible Preferred Stock

In connection with the Merger, as discussed in Note 1, the Company issued 30.6 million shares of its common stock to holders of convertible preferred interests of Compass Therapeutics LLC. No convertible preferred securities were outstanding as of December 31, 2020.  

As of December 31, 2019, convertible preferred stock consisted of the following shares outstanding:

	Shares Issued and Outstanding
Preferred Stock	(000's)
Series A-1		64,705
Series A-2		36,783
Series A-3		23,467
Series A-4		15,253
Series A4B		22,216
Series A-5		44,740
		207,164

Common Stock

In connection with the Merger, as discussed in Note 1, the Company issued 1 million shares of common stock to the former shareholders of Olivia Ventures Inc. The Company paid $0.1 million to several nonaccredited investors of Compass Therapeutics LLC in lieu of issuing shares. In addition, 2.9 million shares of the Company’s common stock were reserved for issuance under the 2020 Stock Option and Incentive Plan.

The Company sold 12 million shares of its common stock pursuant to the closing of a Private Placement offering at a purchase price of $5.00 per share in June 2020.