Avinger Converts $11M Of CRG Debt Into Preferred Equity
Portfolio Pulse from Benzinga Newsdesk
Avinger, Inc. (NASDAQ:AVGR) has converted $11 million of its debt with CRG Partners III L.P. into preferred equity, reducing its debt to $2.6 million and increasing stockholders' equity by $11 million.
May 16, 2024 | 8:28 pm
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Avinger has converted $11 million of its debt into preferred equity, significantly reducing its debt and increasing stockholders' equity.
The conversion of $11 million of debt into preferred equity reduces Avinger's debt burden and improves its balance sheet by increasing stockholders' equity. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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