Avinger,Inc. (NASDAQ:AVGR) Files An 8-K Other EventsItem 8.01. Other Events.
On January17, 2018, Avinger,Inc. (the “Company”) received formal notification from The NASDAQ Stock Market LLC (“Nasdaq”) that the Nasdaq Hearings Panel (the “Panel”) had determined to grant the Company’s request for the transfer of its listing from The Nasdaq Global Market to The Nasdaq Capital Market, to an extension through March31, 2018 to evidence compliance with all applicable requirements for continued listing on Nasdaq. The Company is taking definitive steps to timely evidence compliance with the terms of the Panel’s decision; however, there can be no assurance that it will be able to do so.
As previously disclosed, on October24, 2017 and November21, 2017, the Company received written notice from the Nasdaq Listing Qualifications Staff (the “Staff”) indicating that, due to the Company’s continued non-compliance with the $50 million market value of listed securities, $1.00 bid price and $15 million market value of publicly held shares requirements for continued listing on The Nasdaq Global Market, as set forth in Nasdaq Listing Rule5450, the Staff had determined to delist the Company’s securities from The Nasdaq Global Market unless the Company timely requested a hearing before the Panel. The Panel’s decision, dated January17, 2018, follows the Company’s hearing before the Panel, at which it requested the transfer of its listing to The Nasdaq Capital Market to an extension through March31, 2018 to evidence full compliance with all applicable requirements for the continued listing on Nasdaq, including the applicable $1.00 bid price and $2.5 million stockholders’ equity requirements.
On January19, 2018, Avinger,Inc. issued a press release regarding the Nasdaq Listing Determination. A copy of this press release is filed herewith as Exhibit99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.