Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
9 Months Ended
Sep. 30, 2020
Stockholders' Equity  
Stockholders' Equity

Note 7.   Stockholders’ Equity

On July 10, 2020, the Company approved a 4.71352‑for-one reverse stock split of the Company’s common stock. No fractional shares were issued in connection with the reverse stock split. All fractional shares as a result of the reverse stock split were rounded up to a full share. The par value and other terms of the common stock were not affected by the reverse stock split.

All share and per share amounts, including stock options, have been retroactively adjusted in these financial statements for all periods presented to reflect the 4.71352‑for-one reverse stock split. Furthermore, exercise prices of stock options have been retroactively adjusted in these financial statements for all periods presented to reflect the 4.71352‑for-one reverse stock split.

Common Stock

During the nine months ended September 30, 2020 and prior to its IPO, the Company sold, in aggregate, 15,726 shares of common stock for gross proceeds of $83,014. The Company sold 3,430,000 shares of common stock in connection with the IPO for $31.1 million, net of offering costs.

Treasury Stock

During the nine months ended September 30, 2020, the Company repurchased, in aggregate, 5,683 shares of common stock from agents and employees whose relationship with the Company was terminated for a total of $30,000.