Avinger, Inc. (NASDAQ:AVGR) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02.
Unregistered Sales of Equity Securities.
On February 16, 2018 we closed an offering of 17,979 shares of Series B Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”). The SeriesB preferred stock issued in the offering is convertible into shares of the company’s common stock at a conversion price of $0.40 per share, which means that each share of Series B preferred stock is convertible into 2,500 shares of common stock without additional consideration.
From January 1, 2019 through March 6, 2019, we issued 2,715,000 shares of our common stock upon the conversion of 1,086 shares of our Series B preferred stock. Each share of Series B preferred stock was convertible into 2,500 shares of common stock. We received no consideration upon the conversion of such shares of Series B preferred stock. We relied on the exemption from registration under Section 3(a)(9) of the Securities Act of 1933, as amended.
About Avinger, Inc. (NASDAQ:AVGR)
Avinger, Inc. is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system. The Company manufactures and sells a suite of products in the United States and certain European markets. The Company’s products include Lightbox imaging console, as well as its Wildcat, Kittycat and the Ocelot family of catheters, which are designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (CTO). The lumivascular platform offers real-time visualization of the inside of the artery during PAD treatment. The lumivascular platform consists of a capital component Lightbox and a range of disposable catheter products, including Ocelot, Ocelot PIXL, Ocelot MVRX and Pantheris.