11:13 AM EDT, 06/14/2024 (MT Newswires) -- Avinger (AVGR) said Friday it has priced its public offering of about 3.6 million shares and Series Warrants at a combined price of $1.66 per share and accompanying warrants.

The offering is expected to raise $6 million upfront for the company, with up to an additional $18 million upon the exercise in full of clinical milestone-linked A-1, A-2 and A-3 Series Warrants, the medical device company said.

The firm said it plans to use the net proceeds for working capital and general corporate purposes.

The offering will close on or about Monday, with H.C. Wainwright as the placement agent, Avinger said.