Avinger Announces Pricing of $18 Million Underwritten Public Offering

Avinger (NASDAQ:AVGR), a leading developer of innovative treatments for peripheral artery disease (PAD), today announced the pricing of an underwritten public offering of Series B convertible preferred stock, together with warrants, for gross proceeds of $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.

The Series B preferred stock and the warrants are immediately separable and will be issued separately. The closing of the offering is expected to take place on or about February 16, 2018, subject to the satisfaction or waiver of customary closing conditions.

Click here to read the full press release.