Avinger Prices IPO At $13.00 Per Share - Quick Facts

(RTTNews) - Avinger Inc. (AVGR) announced the pricing of its underwritten initial public offering of 5 million shares of its common stock at a public offering price of $13.00 per share.

The company's shares are expected to begin trading on The NASDAQ Global Market on January 30, 2015 under the ticker symbol "AVGR."

Avinger said it has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock to cover overallotments, if any, at the initial public offering price.

The net offering proceeds to Avinger from the sale of the shares are expected to be approximately $56.9 million, after deducting underwriting discounts and commissions and estimated offering expenses, and excluding any exercise of the underwriters' overallotment option. The offering is expected to close on February 4, 2015, subject to customary closing conditions.

Avinger is a commercial-stage medical device company that designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease, or PAD. The company manufactures and sells a suite of products including the Lightbox imaging console, as well as the Wildcat, Kittycat, and the Ocelot family of catheters. Avinger is based in Redwood City, California.