UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Avinger, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
053734109
(CUSIP Number)
March 7, 2024
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☒ Rule 13d-1(c)
☐ Rule 13d-1(d)
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 053734109 | Page 2 of 15 |
1. |
Names of Reporting Persons
Nathan D. Hukill | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
United States |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
IN |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, plus up to an aggregate of 150,545 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 3 of 15 |
1. |
Names of Reporting Persons
CR Group L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
IA |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, plus up to an aggregate of 150,545 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 4 of 15 |
1. |
Names of Reporting Persons
CRG Partners III L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
PN |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, plus up to an aggregate of 150,545 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 5 of 15 |
1. |
Names of Reporting Persons
CRG Partners III Parallel Fund A L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
PN |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, plus up to an aggregate of 150,545 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 6 of 15 |
1. |
Names of Reporting Persons
CRG Partners III (Cayman) Unlev AIV I L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
Cayman Islands |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
PN |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, 75,873 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person and 75,619 shares of Common Stock issuable upon conversion of shares of Series E convertible preferred stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 7 of 15 |
1. |
Names of Reporting Persons
CRG Partners III (Cayman) Lev AIV I L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
United States |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
PN |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, plus up to an aggregate of 150,545 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 8 of 15 |
1. |
Names of Reporting Persons
CRG Partners III Parallel Fund B (Cayman) L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☒ (1) (b) ☐
| |||||
3. | SEC Use Only
| |||||
4. | Citizenship or Place of Organization
United States |
Number of Shares Beneficially Owned by Each Reporting Person With |
5. | Sole Voting Power
0 | ||||
6. | Shared Voting Power
150,545 | |||||
7. | Sole Dispositive Power
0 | |||||
8. | Shared Dispositive Power
150,545 |
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
150,545 | |||||
10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
☐ | |||||
11. | Percent of Class Represented by Amount in Row (9)
9.9% (2) | |||||
12. | Type of Reporting Person (See Instructions)
PN |
(1) | Nathan D. Hukill, CR Group L.P., CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P., and CRG Partners III Parallel Fund B (Cayman) L.P. are members of a group for the purposes of this Schedule 13G. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, 2023, plus up to an aggregate of 150,545 shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Person. |
CUSIP No. 053734109 | Page 9 of 15 |
Item 1.
(a) | Name of Issuer |
Avinger, Inc.
(b) | Address of Issuers Principal Executive Offices |
400 Chesapeake Drive, Redwood City, CA 94063
Item 2.
(a) | Name of Person Filing |
This Schedule 13G is filed jointly by the following persons (each a Reporting Person and collectively, the Reporting Persons):
Nathan D. Hukill
CR Group L.P.
CRG Partners III L.P.
CRG Partners III Parallel Fund A L.P.
CRG Partners III (Cayman) Unlev AIV I L.P.
CRG Partners III (Cayman) Lev AIV I L.P.
CRG Partners III Parallel Fund B (Cayman) L.P.
CR Group L.P. may be deemed to beneficially own the shares by virtue of its position as the investment manager for CRG Partners III L.P., CRG Partners III Parallel Fund A L.P., CRG Partners III (Cayman) Unlev AIV I L.P., CRG Partners III (Cayman) Lev AIV I L.P. and CRG Partners III Parallel Fund B (Cayman) L.P. Mr. Hukill may be deemed to have beneficial ownership over the securities by virtue of his indirect control of CR Group L.P.
(b) | Address of Principal Business Office or, if none, Residence |
The address of the principal business office of each of the Reporting Persons is 1000 Main Street, Suite 2500, Houston, TX 77002.
(c) | Citizenship |
See Row 4 of the cover page for each Reporting Person.
(d) | Title of Class of Securities |
Common Stock, par value $0.001 per share
(e) | CUSIP Number |
053734109
Item 3. | If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
Not applicable
CUSIP No. 053734109 | Page 10 of 15 |
Item 4. | Ownership |
(a) | Amount beneficially owned: |
Nathan D. Hukill |
150,545 (1) | |||
CR Group L.P. |
150,545 (1) | |||
CRG Partners III L.P. |
150,545 (1) | |||
CRG Partners III Parallel Fund A L.P. |
150,545 (1) | |||
CRG Partners III (Cayman) Unlev AIV I L.P. |
150,545 (1) | |||
CRG Partners III (Cayman) Lev AIV I L.P. |
150,545 (1) | |||
CRG Partners III Parallel Fund B (Cayman) L.P. |
150,545 (1) |
(b) | Percent of class: |
Nathan D. Hukill |
9.9% (2) | |||
CR Group L.P. |
9.9% (2) | |||
CRG Partners III L.P. |
9.9% (2) | |||
CRG Partners III Parallel Fund A L.P. |
9.9% (2) | |||
CRG Partners III (Cayman) Unlev AIV I L.P. |
9.9% (2) | |||
CRG Partners III (Cayman) Lev AIV I L.P. |
9.9% (2) | |||
CRG Partners III Parallel Fund B (Cayman) L.P. |
9.9% (2) |
(c) | Number of shares as to which the person has: |
(i) | Sole power to vote or to direct the vote: |
Nathan D. Hukill |
0 | |||
CR Group L.P. |
0 | |||
CRG Partners III L.P. |
0 | |||
CRG Partners III Parallel Fund A L.P. |
0 | |||
CRG Partners III (Cayman) Unlev AIV I L.P. CRG Partners III (Cayman) Lev AIV I L.P. |
|
0 0 |
| |
CRG Partners III Parallel Fund B (Cayman) L.P. |
0 |
(ii) | Shared power to vote or to direct the vote: |
Nathan D. Hukill |
150,545 (1) | |||
CR Group L.P. |
150,545 (1) | |||
CRG Partners III L.P. |
150,545 (1) | |||
CRG Partners III Parallel Fund A L.P. |
150,545 (1) | |||
CRG Partners III (Cayman) Unlev AIV I L.P. |
150,545 (1) | |||
CRG Partners III (Cayman) Lev AIV I L.P. |
150,545 (1) | |||
CRG Partners III Parallel Fund B (Cayman) L.P. |
150,545 (1) |
CUSIP No. 053734109 | Page 11 of 15 |
(iii) | Sole power to dispose or to direct the disposition of: |
Nathan D. Hukill |
0 | |||
CR Group L.P. |
0 | |||
CRG Partners III L.P. |
0 | |||
CRG Partners III Parallel Fund A L.P. |
0 | |||
CRG Partners III (Cayman) Unlev AIV I L.P. CRG Partners III (Cayman) Lev AIV I L.P. |
|
0 0 |
| |
CRG Partners III Parallel Fund B (Cayman) L.P. |
0 |
(iv) | Shared power to dispose or to direct the disposition of: |
Nathan D. Hukill |
150,545 (1) | |||
CR Group L.P. |
150,545 (1) | |||
CRG Partners III L.P. |
150,545 (1) | |||
CRG Partners III Parallel Fund A L.P. |
150,545 (1) | |||
CRG Partners III (Cayman) Unlev AIV I L.P. |
150,545 (1) | |||
CRG Partners III (Cayman) Lev AIV I L.P. |
150,545 (1) | |||
CRG Partners III Parallel Fund B (Cayman) L.P. |
150,545 (1) |
(1) | Consists of shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock and shares of Common Stock issuable upon conversion of shares of Series E Convertible Preferred Stock. The share numbers above represent the maximum number of shares of common stock issuable upon the conversion of the Reporting Persons preferred stock pursuant to the Certificate of Designation for the Series A-1 Convertible Preferred Stock and the Certificate of Designation for the Series E Convertible Preferred Stock as a result of the blocker provision of the Certificates of Designation described in the following sentence. The Certificates of Designation provide that the holder of Series A-1 Convertible Preferred Stock and Series E Convertible Preferred Stock will not have a right to convert, subject to certain exceptions, the preferred stock for common stock if, as a result of such conversion, the holder, together with its affiliates and other attribution parties, would exceed a beneficial ownership limitation of 9.9%, which may be changed by the Reporting Person, providing any increases will not take effect until the 61st day after notice to the Issuer and the beneficial ownership limitation may not exceed 19.99%. |
(2) | This percentage is calculated based on 1,370,118 shares of Common Stock issued and outstanding as of October 23, 2023, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 26, plus shares of Common Stock issuable upon conversion of shares of Series A-1 Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Persons and shares of Common Stock issuable upon conversion of shares of Series E Convertible Preferred Stock of the Issuer that are beneficially owned by the Reporting Persons. |
CUSIP No. 053734109 | Page 12 of 15 |
Item 5. | Ownership of Five Percent or Less of a Class |
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☒
Item 6. | Ownership of More than Five Percent on Behalf of Another Person |
Not applicable
Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person |
Not applicable
Item 8. | Identification and Classification of Members of the Group |
Not applicable
Item 9. | Notice of Dissolution of Group |
Not applicable
Item 10. | Certification |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.
CUSIP No. 053734109 | Page 13 of 15 |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: March 15, 2024
Nathan D. Hukill |
/s/ Nathan D. Hukill |
An individual |
CR Group L.P. |
CRG Partners III L.P. |
CRG Partners III Parallel Fund A L.P. |
CRG Partners III (Cayman) Unlev AIV I L.P. |
CRG Partners III (Cayman) Lev AIV I L.P. |
CRG Partners III Parallel Fund B (Cayman) L.P. |
By: | /s/ Nathan D. Hukill | |
Nathan D. Hukill, authorized signatory |
CUSIP No. 053734109 | Page 14 of 15 |
EXHIBITS
A: | Joint Filing Agreement |
CUSIP No. 053734109 | Page 1 5 of 15 |
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of Avinger, Inc. and further agree that this agreement be included as an exhibit to such filing. Each party to the agreement expressly authorizes each other party to file on its behalf any and all amendments to such statement. Each party to this agreement agrees that this joint filing agreement may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be executed on their behalf this 15th day of March, 2024.
Nathan D. Hukill |
/s/ Nathan D. Hukill |
An individual |
CR Group L.P. |
CRG Partners III L.P. |
CRG Partners III Parallel Fund A L.P. |
CRG Partners III (Cayman) Unlev AIV I L.P. |
CRG Partners III (Cayman) Lev AIV I L.P. |
CRG Partners III Parallel Fund B (Cayman) L.P. |
By: | /s/ Nathan D. Hukill | |
Nathan D. Hukill, authorized signatory |