Avinger (AVGR) Prices 5M Common IPO at $13/Share, Middle of Expected Range

Avinger, Inc. (Nasdaq: AVGR) announced the pricing of its underwritten initial public offering of 5,000,000 shares of its common stock at a public offering price of $13.00 per share. The company's shares are expected to begin trading on The NASDAQ Global Market on January 30, 2015 under the ticker symbol "AVGR." Avinger has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock to cover overallotments, if any, at the initial public offering price. The net offering proceeds to Avinger from the sale of the shares are expected to be approximately $56.9 million, after deducting underwriting discounts and commissions and estimated offering expenses, and excluding any exercise of the underwriters' overallotment option. The offering is expected to close on February 4, 2015, subject to customary closing conditions.

***Pricing compares with an expected range of $12 to $14 per share.

Canaccord Genuity Inc. and Cowen and Company, LLC are acting as joint book-running managers and Oppenheimer & Co. Inc., BTIG, LLC., and Stephens Inc. are acting as co-managers for the offering.

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