Avinger Announces Closing of $18 Million Underwritten Public Offering

Avinger (NASDAQ:AVGR), a leading developer of innovative treatments for peripheral artery disease (PAD), announced the closing of an underwritten public offering of Series B convertible preferred stock, together with warrants, for gross proceeds of approximately $18.0 million, prior to deducting underwriting discounts and commissions and offering expenses payable by Avinger.

As quoted in the press release:

The company intends to use the net proceeds from this offering for working capital and general corporate purposes, and may also use a portion of the net proceeds to resolve pending legal proceedings.

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