U.S.-based commercial-stage medical device company Avinger announced that it closed an approximately $11.5 million in financing round.

In the offering, Avinger floated approximately 3.5 million class A units at a price of $40 per share. Each unit offered consists of a single share of common stock and a five-year warrant to purchase an additional share at $40 per share.

The company said that it plans to use net proceeds to support working capital and for general corporate purposes.

Avinger also said that the round included a fully exercised underwriter’s over-allotment option to purchase an additional approximately 3.8 million shares of common stock and 3.8 million warrants.