{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-017291","form_type":"8-K","ticker":null,"cik":"0001506928","company_name":"Avinger Inc","filed_at":"2024-05-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.729216+00:00","generated_at":"2026-06-01T20:04:03.580296+00:00","sec_items":["1.01","5.03","3.02","5.07","7.01","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.78,"calibrated_materiality_score":0.78,"confidence":"high","headline":"Avinger converts $11M CRG debt (80%) to Series H convertible preferred stock","bullets":["$11 million (80% of CRG debt) exchanged for 11,000 Series H preferred shares; remaining debt $2.6M.","Series H preferred: $1,000 stated value, 8% cumulative dividend, convertible at $3.86/share (~259 common per preferred).","Conversion adds $11M to equity, helping meet Nasdaq's $2.5M stockholders' equity requirement for continued listing.","Closing May 16, 2024; holders of Series A-1, E, F preferred approved via written consent.","Series H voting capped at 19.99% of total voting power; conversion limited to 9.99% beneficial ownership absent stockholder approval."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-017291","json":"https://secwatch.observer/filing/0001437749-24-017291.json","markdown":"https://secwatch.observer/filing/0001437749-24-017291.md","text":"https://secwatch.observer/filing/0001437749-24-017291.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/0001437749-24-017291-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/avgr20240514c_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T20:04:03.580296+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e9e002fea67ae620f24ebfdcfb0e0357536a9276","claim":"Avinger Inc: Filed Certificate of Designation for Series H Convertible Preferred Stock, designating 15,000 shares with rights and preferences (effective 2024-05-16).","evidence_excerpt":"On May 16, 2024, pursuant to the Purchase Agreement, the Company filed the Certificate of Designation, designating 15,000 shares of Series H Preferred Stock.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/0001437749-24-017291-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2024-05-16"}],"fact_type":"governance_change"},{"claim_id":"db112b7bca44593e7061d43058d3b9c5753ef0e7","claim":"Avinger Inc entered into Securities Purchase Agreement with CRG Partners III L.P., CRG Partners III - Parallel Fund \"A\" L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund \"B\" (Cayman) L.P. valued at $11 million (effective 2024-05-16).","evidence_excerpt":"On May 16, 2024, Avinger, Inc. (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with CRG Partners III L.P., CRG Partners III - Parallel Fund “A” L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund “B” (Cayman) L.P. (collectively in such capacity, the “ Lenders ”) pursuant to which the Company agreed to issue to the Lenders an aggregate of 11,000 shares of a newly authorized Series H convertible preferred stock (the “Series H Preferred Stock”) in exchange (the “Exchange”) for the Lenders surrendering for cancellation $11 million of outstanding borrowing under that certain Term Loan Agreement","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/0001437749-24-017291-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"CRG Partners III L.P., CRG Partners III - Parallel Fund \"A\" L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund \"B\" (Cayman) L.P."},{"label":"Value","value":"$11 million"},{"label":"Effective","value":"2024-05-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}