Avinger, Inc. Announces Amendments to Its Term Loan Agreement with CRG Partners
January 26, 2021 at 09:15 am
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On January 22, 2021, Avinger, Inc. (the Company) entered into Amendment No. 5 to Term Loan Agreement (the Amendment) with CRG Partners III L.P. and certain of its affiliated funds, as lenders (the Lenders), which amended the Term Loan Agreement, dated as of September 22, 2015, by and among the Company, certain of its subsidiaries from time to time party thereto as guarantors and Lenders (as amended, the Term Loan Agreement). The Amendment amended the Term Loan Agreement to, among other things: extend the maturity date of the loan from June 30, 2023 to December 31, 2025; extend the interest only payment period through December 31, 2023; extend the period by which the Company may elect to pay a portion, or all if no event of default has occurred or is continuing, of the interest in paid in-kind interest payments until December 31, 2023; amend the on-going stand-alone representation and stand-alone event of default regarding Material Adverse Change" such that any adverse change in or effect upon the revenue of the Company and its subsidiaries due to the outbreak of COVID-19, to the extent disclosed to the Lenders, will not constitute a Material Adverse Change; change the date under the on-going stand-alone representation regarding no Material Adverse Change to December 31, 2020; revise and extend the minimum annual revenue requirements through 2025.
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. 
