Avinger Inc (NASDAQ:AVGR), a medical device company, has declared dividends on its Series E, F, and H Convertible Preferred Stock and filed an amendment to increase the number of designated shares of Series F Preferred Stock.
The Board of Directors authorized the issuance of additional preferred shares as dividends on December 29, 2024, with the dividends paid on December 31, 2024.
Holders of Series E Preferred Stock are entitled to an 8% annual dividend, compounded annually. To fulfill this obligation, Avinger issued an aggregate of 156 shares of Series E Preferred Stock. Similarly, Series F Preferred Stock holders are entitled to a 5% annual dividend until the third anniversary of their issuance date. The company declared a dividend of 298 shares of Series F Preferred Stock, pending approval from Series E stockholders due to the parity between Series E and F shares.
Series H Preferred Stock, ranking senior to Series F, also carries an 8% annual dividend. Avinger declared a dividend of 552 shares of Series H Preferred Stock, subject to approval by Series F stockholders. The dividends for all series were distributed on the last day of 2024.
The company also filed a Certificate of Amendment with the State of Delaware to increase the designated shares of Series F Preferred Stock from 7,224 to 10,000. This amendment was approved by the board and the requisite holders of Series E and F Preferred Stock without the need for common stockholder approval.
This action is part of Avinger's ongoing capital management and is based on exemptions from registration under the Securities Act of 1933. The company's filings and amendments reflect its strategic financial decisions and are disclosed in compliance with SEC regulations.
The news above is based on an SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.