The Redwood City, Calif.-based company said it is looking to float approximately 2.2 million shares of its common stock at $1.64 per share, hoping to bring in approximately $3.6 million.
The offering will also include warrants for the purchase of half a share of common stock for each share purchased, with an exercise price of $1.58 per share. Warrants offered in the round will be exercisable for up to six months after the offering closes, and will expire three years from the date they were issued.
Ladenburg Thalmann & Co are acting as the exclusive placement agent for the offering, which the company expects to close on July 16, according to a press release.
Last month, Avinger said it launched its next-generation Pantheris in the US, touting that the first procedures with the device have already been performed.
Intuitive Surgical enjoyed a nearly two-decade monopoly in the robot-assisted surgery space. At DeviceTalks West, we'll delve into that history as longtime CEO Gary Guthart tells us how he got his start in medtech, how Intuitive came to enjoy such a commanding lead and what the future holds for medical robotics.
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