Avinger, Inc. Executes Assignment for the Benefit of Creditors; Announces Receipt of Nasdaq Delisting Notice

Core Viewpoint - Avinger, Inc. has entered into a general assignment for the benefit of creditors, leading to the liquidation of its assets and a voluntary dissolution of the company [1][2][3]. Group 1: Company Actions - On February 10, 2025, Avinger transferred substantially all of its assets to a California limited liability company for liquidation [2]. - The company's stockholders approved the assignment for the benefit of creditors and a plan for voluntary dissolution during a special meeting on February 5, 2025 [3]. - The board of directors approved the company's entrance into the assignment effective February 10, 2025 [3]. Group 2: Nasdaq Delisting - On February 11, 2025, Nasdaq notified Avinger that its securities would be delisted due to concerns regarding the company's compliance with listing requirements [4][5]. - Trading of Avinger's common stock was suspended on February 18, 2025, and a Form 25-NSE will be filed to remove the company's securities from Nasdaq [4]. - Nasdaq's decision was influenced by the company's recent filing of a Current Report and concerns about the residual equity interest of existing securities holders [5].