Avinger to increase at-the-market offering by up to $2.1M

As previously disclosed, on May 20, 2022, Avinger “entered into an At the Market Offering Agreement with H.C. Wainwright & Co., LLC, as sales agent, pursuant to which the Company may offer and sell shares of the Company’s common stock, par value $0.001 per share, initially up to an aggregate offering price of $7,000,000, from time to time in an at-the-market public offering. On August 3, 2022, the Company determined to suspend sales under the ATM Agreement and terminated the continuous offering of the initial aggregate offering price of $7,000,000. In March 2023, the Company determined to resume sales under the ATM Agreement, up to an aggregate offering price of $1,149,028. The Company has determined to increase the amount available for sale under the ATM Agreement, up to an additional aggregate offering price of $2,133,181. The Shares sold under the ATM Agreement will be offered and sold pursuant to the Company’s shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission on March 29, 2022 and declared effective on April 7, 2022, and a prospectus supplement and the accompanying prospectus relating to the at-the-market offering filed with the SEC on September 18, 2023. Because there is no minimum offering amount required pursuant to the ATM Agreement, the total number of Shares to be sold under the ATM agreement, if any, and proceeds to the Company, if any, are not determinable at this time. The Company expects to use any net proceeds for primarily for working capital and general corporate purposes, which may include research and development of the Company’s Lumivascular platform products, preclinical and clinical trials and studies, regulatory submissions, expansion of its sales and marketing organizations and efforts, intellectual property protection and enforcement and capital expenditures. The Company has not yet determined the amount of net proceeds to be used specifically for any particular purpose or the timing of these expenditures. The Company may use a portion of the net proceeds to acquire complementary products, technologies or businesses or to repay principal on its debt however, it currently has no binding agreements or commitments to complete any such transactions or to make any such principal repayments from the proceeds of this offering, although it does look for such acquisition opportunities. Accordingly, the Company’s management will have significant discretion and flexibility in applying the net proceeds from the sale of these securities.”