Stockholders’ Equity – Common and Preferred Stock (Tables)

3 Months Ended

Mar. 31, 2026

Preferred stock outstanding as of December 31, 2025 consisted of the following:


Preferred Series Shares	Date Sold	Shares Sold	Par Value		Sales Price/Share		Total Proceeds (in millions)		Liquidation Preference as of December 31, 2025 (in millions)
Series A-1	September 2021	6,515,849	$	0.00001	$	2.8770	$	18.7	$	18.7
Series A-2	September 2021	680,479	0.00001		2.1578		1.5		1.5
Series A-3	September 2021	703,475	0.00001		2.8770		2.0		2.0
Series A-4	April 2023	4,965,572	0.00001		3.0208		15.0		15.0
Series B	November 2024 - February 2025	62,245,805	0.00001		1.2049		75.0		85.4
Series C	October 2025 - November 2025	118,682,683	0.00001		1.2723		151.0		154.8

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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