Equity and Warrants (Tables)

9 Months Ended

Sep. 30, 2021

Equity and Warrants

Summary of fully diluted capital structure

The following table summarizes our fully diluted capital structure at September 30, 2021:

Issued and outstanding common shares	93,232,999
Earnout common shares (Note 1 and Note 9)	4,099,999
Total common shares issued and outstanding	97,332,998
Common shares reserved for future issuance:
Public warrants	—
Private warrants	1,821,951
Common stock options outstanding - 2012 Equity Plan	5,131,615
Restricted stock units (Note 9)	984,135
2020 Equity Plan pool reserved for future issuance (Note 9)	10,015,157
Convertible senior notes, due 2026(1)	16,998,130
Total shares of common stock outstanding and reserved for future issuance	132,283,986

(1) In connection with the September 16, 2021 issuance of the 2026 Notes, the Company used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to the Company’s common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing the conversion price for the Company from $25 per share to approximately $37.74 per share, which would result in 11,261,261 potentially dilutive shares instead of the shares reported in this table.