REDWOOD CITY, CA / ACCESSWIRE / January 28, 2020 / Avinger, Inc. (NASDAQ:AVGR), a leading developer of innovative treatments for Peripheral Artery Disease (PAD), today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $4.5 million before deducting underwriting discounts and commissions and other estimated offering expenses. The proposed offering equates to 6,428,572 shares of the Company's common stock at a price of $0.70 per share. The Company intends to use the net proceeds from this offering to fund working capital, payment of interest on debt and general corporate purposes, which may include research and development of the Company's Lumivascular platform products, preclinical and clinical trials and studies, regulatory submissions, expansion of sales and marketing organizations and efforts, intellectual property protection and enforcement and capital expenditures. The Company not yet determined the amount of net proceeds to be used specifically for any particular purpose or the timing of these expenditures. The Company may use a portion of the net proceeds to acquire complementary products, technologies or businesses or to repay principal on debt; however, the Company currently has no agreements or commitments to complete any such transactions or to make any such principal repayments and is not involved in negotiations to do so.
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