8-K
filed March 7, 2024, 6:59 PM ET
CIK 0001506928
M&A
confidence high
sentiment neutral
materiality 0.80
Avinger enters strategic partnership with Zylox-Tonbridge, raises $7.5M initial tranche with potential $15M total
Avinger Inc
- License and distribution agreement with Zylox-Tonbridge for Greater China; 20-year term with mid- to high-single-digit royalties.
- Initial $7.5M private placement closed: 75,327 common shares and 7,224 Series F preferred shares at $3.664 per common share.
- Up to additional $7.5M from Zylox-Tonbridge upon achieving two milestones: FDA registration and $10M gross revenue in four consecutive quarters.
- Existing Series A preferred stock exchanged for Series A-1 preferred convertible at same $3.664 price; CRG loan amended extending interest-only period through 2026.
- Jonathon Zhong Zhao appointed to Board; stockholder consent obtained for all transactions.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jonathon Zhong Zhao was appointed as Class II member of the Board at Avinger Inc.
- Action
- appointed
- Role
- Class II member of the Board
Exact text from the filing
Pursuant to the terms of the Purchase Agreement, effective as of the Initial Closing, the size of the Board was set at five directors and Jonathon Zhong Zhao was appointed to serve as a Class II member of the Board.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Avinger Inc: Filed Certificate of Amendment to Series E Certificate of Designation, reducing the beneficial ownership limitation from 19.99% to 9.99% and modifying notice requirements for changes (effective 2024-03-04).
- Change
- charter amendment
- Effective
- 2024-03-04
Exact text from the filing
on March 4, 2024, the Company filed a Certificate of Amendment to the Certificate of Designation of Preferences, Rights and Limitations of Series E Convertible Preferred Stock (the “Series E Amendment”).
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Avinger Inc: Filed Certificate of Designation for Series F Preferred Stock, establishing its terms including dividend, conversion, liquidation preference, voting cap, and protective provisions (effective 2024-03-04).
- Change
- charter amendment
- Effective
- 2024-03-04
Exact text from the filing
on March 4, 2024, the Company filed the Series F Certificate of Designation, designating 7,224 shares of Series F Preferred Stock.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Avinger Inc: Filed Certificate of Designation for Series A-1 Preferred Stock, establishing its conversion price and related terms (effective 2024-03-04).
- Change
- charter amendment
- Effective
- 2024-03-04
Exact text from the filing
on March 4, 2024, the Company filed the Series A-1 Certificate of Designation, designating shares of Series A-1 Preferred Stock.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Avinger Inc entered into License Agreement with Zylox-Tonbridge Medical Technology Co., Ltd. (effective 2024-03-04).
- Action
- entry
- Agreement
- license
- Counterparty
- Zylox-Tonbridge Medical Technology Co., Ltd.
- Effective
- 2024-03-04
Exact text from the filing
On March 4, 2024, Avinger, Inc. (“Avinger” or the “Company”) entered into a License and Distribution Agreement (the “License Agreement”) with Zylox-Tonbridge Medical Technology Co., Ltd. (“Zylox-Tonbridge”) effective as of the Initial Closing (defined below),
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Avinger Inc entered into Securities Purchase Agreement with Zylox-Tonbridge Medical Limited valued at up to an aggregate of $15 million (effective 2024-03-04).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Zylox-Tonbridge Medical Limited
- Value
- up to an aggregate of $15 million
- Effective
- 2024-03-04
Exact text from the filing
On March 4, 2024, in connection with the Strategic Collaboration, the Company and Zylox-Tonbridge Medical Limited, a wholly-owned subsidiary of Zylox-Tonbridge (the “Purchaser”), entered into a Securities Purchase Agreement (the “Purchase Agreement”), pursuant to which the Purchaser agreed to purchase, in two tranches, up to an aggregate of $15 million in shares of the Company’s common stock,
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Avinger Inc entered into Strategic Cooperation and Framework Agreement with Zylox-Tonbridge Medical Technology Co., Ltd. (effective 2024-03-04).
- Action
- entry
- Agreement
- collaboration
- Counterparty
- Zylox-Tonbridge Medical Technology Co., Ltd.
- Effective
- 2024-03-04
Exact text from the filing
on March 4, 2024, the Company and Zylox-Tonbridge also entered into a Strategic Cooperation and Framework Agreement in conjunction with the Initial Closing (the “Collaboration Agreement” and, together with the License Agreement, the “Strategic Collaboration”),
View on SEC.gov
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