CYAN INC | 2013 | FY | 3

The change in the fair value of the convertible preferred stock warrant liability during the periods presented is summarized below (in thousands): 
 
Year Ended December 31,
 
2013
 
2012
 
2011
Opening balance
$
6,254

 
$
900

 
$
1,213

Increase (decrease) in Fair Value
2,602

 
5,354

 
(313
)
Reclassification of warrant liability to additional paid-in capital
(8,856
)
 
—

 
—

Closing balance
$
—

 
$
6,254

 
$
900

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