---
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"
generated_at: "2026-06-01T20:04:03.580296+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Avinger converts $11M CRG debt (80%) to Series H convertible preferred stock

## Summary
- $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.

## SEC filing metadata
- accession: 0001437749-24-017291
- form_type: 8-K
- cik: 0001506928
- company_name: Avinger Inc
- filed_at: 2024-05-16T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 5.07, 7.01, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-017291
- JSON: https://secwatch.observer/filing/0001437749-24-017291.json
- Plain text: https://secwatch.observer/filing/0001437749-24-017291.txt

## Key facts
- Governance Changes
  Avinger Inc: Filed Certificate of Designation for Series H Convertible Preferred Stock, designating 15,000 shares with rights and preferences (effective 2024-05-16).
  - Change: charter amendment
  - Effective: 2024-05-16
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/0001437749-24-017291-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: 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.
  - Value: $11 million
  - Effective: 2024-05-16
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/0001437749-24-017291-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.