secwatch.observer — SEC 8-K summary
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Issuer:     Avinger Inc (—)
CIK:        0001506928
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001437749-24-017291
Event type: debt
Sentiment:  positive
Materiality: 0.78
Item codes: 1.01, 5.03, 3.02, 5.07, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/0001437749-24-017291-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506928/000143774924017291/avgr20240514c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-017291

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer