Avinger Prices Offering Of 3,614,457 Shares And Warrants To Purchase 3,614,457 Shares At $1.66/Share And Accompanying Warrant; Gross Proceeds Of $6M Upfront And Potential Proceeds Of $18M If Series Warrants Are Fully Exercised On Cash Basis
Portfolio Pulse from Benzinga Newsdesk
Avinger has priced an offering of 3,614,457 shares and warrants to purchase an equal number of shares at $1.66 per share and accompanying warrant. The company expects gross proceeds of $6 million upfront and potential proceeds of $18 million if the series warrants are fully exercised on a cash basis.
June 14, 2024 | 12:06 pm
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Avinger has announced a new offering of 3,614,457 shares and warrants at $1.66 per share, with expected gross proceeds of $6 million upfront and potential additional proceeds of $18 million if the warrants are fully exercised.
The offering will provide Avinger with immediate capital of $6 million, which could be beneficial for its operations. However, the issuance of new shares may dilute existing shareholders' equity, potentially balancing out the positive impact of the capital infusion.
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