secwatch.observer — SEC 8-K summary
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Issuer:     Avinger Inc (—)
CIK:        0001506928
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001437749-23-022055
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 5.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avinger converts $1.92M of CRG term debt into Series E convertible preferred stock
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- Converted ~12% of CRG term loan ($1.92M) into 1,920 shares of Series E convertible preferred stock.
- Each Series E share initially convertible into 1,398 common shares at $0.715, equal to Aug 2, 2023 closing price.
- Post-conversion, CRG holds convertible shares equal to ~19.9% of common stock on a pro forma basis.
- Term loan maturity (Dec 31, 2025) and other covenants remain unchanged.
- Series E carries 8% cumulative annual dividend, payable in cash or stock at company's election.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506928/000143774923022055/0001437749-23-022055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506928/000143774923022055/avgr20230802_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-022055

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