Avinger Announces Pricing of Initial Public Offering

On January 30, 2015, Avinger, Inc., a commercial-stage medical device company, announced the pricing of its underwritten initial public offering of 5,000,000 shares of its common stock at a public offering price of $13.00 per share. Also on January 30, the company's shares began trading on the Nasdaq Global Market under the ticker symbol "AVGR." Wilson Sonsini Goodrich & Rosati is advising Avinger in the offering.

Avinger has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock to cover overallotments, if any, at the initial public offering price. The net offering proceeds to Avinger from the sale of the shares are expected to be approximately $56.9 million, after deducting underwriting discounts and commissions and estimated offering expenses, and excluding any exercise of the underwriters' overallotment option. The offering is expected to close on February 4, 2015, subject to customary closing conditions.

Based in Redwood City, California, Avinger manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease.

The WSGR team advising Avinger is led by Philip Oettinger and includes associates Dan Gorback, Erin Kravitz, Killian Nolan, Omar Alam, and Ryan Coates, and senior paralegal Julia Dietrich. WSGR partners David Hoffmeister (regulatory) and Scott McCall (employee benefits and compensation), and associate Michael Klippert (employee benefits and compensation) also assisted.