IPO Profile: Avinger Inc

Company Details

Redwood City, Calif.



Description: Avinger is a commercial-stage medical device company. The company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The company focuses to introduce products based on its lumivascular platform, which is an intravascular image-guided system. Avinger manufactures and sells a suite of products in the United States and select European markets. Its products include Lightbox imaging console, Wildcat, Kittycat and the Ocelot family of catheters, which are designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (CTO). The company’s lumivascular platform offers real-time visualization of the inside of the artery during PAD treatment. Its lumivascular platform directs treatment towards plaque. Avinger’s products include its Lightbox console and other catheters, including Ocelot, Ocelot PIXL and Ocelot MVRX.

Competition: Abbott Laboratories, BARD, Boston Scientific, Cook Medical, Covidien, Johnson & Johnson, Medtronic, Boston Scientific, Cardiovascular Systems, Covidien, Spectranetics, Volcano

IPO Details

Exchange and Ticker: AVGR: Nasdaq

Filing Range: 4.62 million shares @ $12.00 to $14.00

Offering Price: $13.00

Close Price as of 1/30/15: $13.50

Offering Size: $65 million

Shares Outstanding: 10.2 million

Underwriters: Canaccord Genuity, Cowen

Co-manager: Oppenheimer & Co Inc, BTIG LLC, Stephens Inc

Company Counsel: Wilson Sonsini Goodrich & Rosati

Manager Counsel: Jones Day

Auditor: Ernst & Young LLP

Market Capitalization on 01/30/15: $138.1 million

Close Price on 1/30/15: $13.50

Investment Details

Venture Backers:

  • Lucas Venture Group
  • Undisclosed firm

Financing Rounds:

  • 12/11/13 n/a
  • 9/15/14 $34.8M

Source: Data provided by Thomson Reuters.