Avinger (NSDQ:AVGR) said yesterday that it closed a stock offering worth nearly $4.5 million for its line of devices designed to treat peripheral artery disease.
The commercial-stage medical device company designs image-guided, catheter-based systems to diagnose and treat PAD.
The closing of the equity offering came five days after the company priced the offering, as Avinger expected.
Redwood City-based Avinger’s offering was for more than 3.8 million shares at $1.18 apiece, for total gross proceeds of approximately $4.5 million. The offering includes an over-allotment option on another 572,000 shares that would add $675,000 if exercised in full, according to a release.
When Avinger priced the offering, it said the proceeds would be used for working capital and general corporate purposes.
AVGR shares were down -1.9% at $1.11 apiece in late-morning trading.