Avinger, which sells an image-guided, catheter-based system to treat peripheral arterial disease, announced terms for its IPO on Tuesday. The Redwood City, CA-based company plans to raise $60 million by offering 4.6 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Avinger would command a fully diluted market value of $169 million.
Avinger, which was founded in 2007 and booked $12 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol AVGR. Canaccord Genuity and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of January 26, 2015.
