Avinger Executes Assignment for the Benefit of Creditors; Receives Nasdaq Delisting Notice

Avinger, Inc. has entered into a general assignment for the benefit of creditors, transferring most of its assets to a new entity for liquidation. The move follows a special meeting of stockholders who approved the plan. The company received a Nasdaq delisting notice due to concerns about compliance with listing requirements and residual equity interest. Trading of Avinger's common stock was suspended, and a Form 25-NSE will be filed to remove the company's securities from listing and registration.

1. Avinger, Inc., a California-based medical device company, announced on December 19, 2024, that it had entered into a general assignment for the benefit of creditors (the "Assignment") [1]. The Assignment involves transferring most of the company's assets to a new entity for liquidation. This decision follows a special meeting of stockholders who approved the plan on January 24, 2025.

The Nasdaq stock exchange delivered a delisting notice to Avinger due to concerns about compliance with listing requirements and residual equity interest [1]. Trading of Avinger's common stock was suspended, and a Form 25-NSE will be filed to remove the company's securities from listing and registration.

The Assignment and Dissolution Proposal, which includes the approval of the assignment, voluntary dissolution, and liquidation, was presented to Avinger's stockholders in the company's proxy statement [1]. The Board of Directors unanimously recommended that stockholders vote in favor of the proposal.

Sources:
[1] United States Securities and Exchange Commission. (2024, December 19). Avinger, Inc. 2024 Form DEF 14A. Retrieved from https://www.sec.gov/Archives/edgar/data/1506928/000143774924038224/avgr20241219_def14a.htm