Avinger, Inc. Enters into Waiver Agreement with CRG Partners III L.P
January 30, 2018 at 10:06 pm
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Avinger, Inc. entered into a waiver agreement with CRG Partners III L.P. and certain of its affiliated funds, as lenders. The Waiver provided for the waiver of the $5,000,000 minimum liquidity financial covenant and reduced it to $2,500,000 for the period beginning January 1, 2018 through February 28, 2018, as contained in Section 10.01 of that certain Term Loan Agreement, dated as of September 22, 2015 (the Term Loan Agreement), by and among the company, certain of its subsidiaries from time to time party thereto as guarantors and the Lenders, and waived any Event of Default resulting from non-compliance with the $5,000,000 minimum liquidity financial covenant.
Avinger, Inc. is a commercial-stage medical device company. The Company designs, manufactures, and sells real-time, image-guided, minimally invasive catheter-based systems that are used by physicians to treat patients with peripheral artery disease (PAD). Its Lumivascular platform includes the Lightbox real-time imaging console, the Ocelot and Tigereye family of catheters, which are image-guided catheters designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (CTO), and the Pantheris family of catheters, its image-guided atherectomy family of catheters designed to allow physicians to remove arterial plaque in PAD patients. Its Pantheris is a single-use product and provides physicians with the ability to see a cross-sectional view of the peripheral artery to guide the removal of blockages throughout the procedure. It has also developed a line extension of its Pantheris image-guided atherectomy platform, Pantheris Small Vessel (SV).
AVINGER, INC. 
