Avinger announces $7.6 million registered direct offering

Redwood city, ca / accesswire / january 12, 2022 / avinger, inc. (nasdaq:avgr) (the "company"), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of peripheral artery disease (pad), today announced that it has entered into a definitive agreement with certain institutional investors for the issuance and sale in a registered direct offering of an aggregate of 7,600 shares of series d convertible preferred stock (the "preferred stock") and warrants to purchase up to an aggregate of 16,150,000 shares of common stock for gross proceeds of $7.6 million. the shares of preferred stock will have a stated value of $1,000 per share and are convertible into an aggregate of 19,000,000 shares of common stock at a conversion price of $0.40 per share.
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