AVGY, CA / ACCESSWIRE / August 4, 2022 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today announced that it has entered into a definitive agreement with a single, healthcare-focused institutional investor for the sale and issuance of 1,484,019 shares of the Company's common stock (or pre-funded warrants in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. Concurrently with the registered direct offering, the Company entered into a definitive agreement with the investor in the registered direct offering for the sale and issuance of 1,369,864 shares of common stock (or pre-funded warrants in lieu thereof) in a private placement priced at-the-market under Nasdaq rules. The purchase price for one share of common stock (or pre-funded warrant in lieu thereof) and the associated preferred investment options is $1.752.
In addition, the Company has agreed to issue to the investor in the offerings unregistered series A preferred investment options to purchase up to 2,853,883 additional shares of the Company's common stock and series B preferred investment options to purchase up to 2,853,883 additional shares of the Company's common stock (collectively, the "preferred investment options"). The Series A preferred investment options have an exercise price of $1.502 per share, will be immediately exercisable, and will expire five and one-half years from the date of issuance and the Series B preferred investment options have an exercise price of $1.502 per share, will be immediately exercisable, and will expire two years from the date of issuance.R
