On March 4, 2024, Avinger, Inc. entered into a License and Distribution Agreement with Zylox-Tonbridge Medical Technology Co. Ltd. effective as of the Initial Closing, pursuant to which the Company will license and distribute certain of the Company's products (including consumables) in the Greater China region, including mainland China, Hong Kong, Macao, and Taiwan. On March 4, 2024, in connection with the Strategic Collaboration, the Company and Zylox-Tonbridge Medical Limited, a wholly-owned subsidiary of Zylox-Tonbridge, entered into a Securities Purchase Agreement, pursuant to which the Purchaser agreed to purchase, in two tranches, up to an aggregate of $15 million in shares of the Company?s common stock, par value $0.001 per share, and shares of two new series of the Company?s preferred stock.

Pursuant to the terms of the Purchase Agreement, effective as of the Initial Closing, the size of the Board was set at five directors and Jonathon Zhong Zhao was appointed to serve as a Class II member of the Board. Mr. Zhao's term will expire at the 2026 annual meeting of stockholders, until his successor is duly elected and qualified or until his earlier death, resignation or removal.