BIOLASE to Reduce Total Offering on Form S-3 From $30 Million to $5 Million
August 14 2013 - 3:28PM
Marketwired
BIOLASE, Inc. (NASDAQ: BIOL), the world's leading manufacturer and
distributor of dental lasers, and a pioneer in laser surgery in
other medical specialties, today announced that due to the
unwarranted amount of confusion in the marketplace that has ensued
since the filing of the registration statement on Form S-3,
originally filed with the Securities and Exchange Commission (the
"SEC") on July 26, 2013, BIOLASE will reduce the registration
statement from $30 million to $5 million.
Federico Pignatelli, Chairman and CEO, said, "Speculative forces
have manipulated the market to believe that we are in a liquidity
crunch and that we must raise a large amount of money to continue
our operations. This is absolutely false. However, in response to
this wild speculation we will file an amendment with the SEC as
soon as possible to reduce the total of our registration statement
on Form S-3 from $30 million to only $5 million.
"It should also be noted that we are entering into our 'high
season' from September to December where BIOLASE generates a large
percentage of its revenue and generates cash. Therefore, the rumors
that BIOLASE must raise a high level of capital in the near term
are totally uncalled for. In addition, we expect our DaVinci
Imaging Division, which sells NewTom digital imaging products and
3Shape CAD/CAM intraoral scanners, to transition from a negative
contribution loss to a positive contribution profit for the
remainder of the year," concluded Pignatelli.
About BIOLASE, Inc. BIOLASE, Inc. is a biomedical company that
develops, manufactures, and markets innovative lasers in dentistry
and medicine and also markets and distributes high-end 2D and 3D
digital imaging equipment and CAD/CAM intraoral scanners; products
that are focused on technologies that advance the practice of
dentistry and medicine. The Company's proprietary laser products
incorporate approximately 340 patented and patent-pending
technologies designed to provide biologically clinically superior
performance with less pain and faster recovery times. Its
innovative products provide cutting-edge technology at competitive
prices to deliver the best results for dentists and patients.
BIOLASE's principal products are revolutionary dental laser systems
that perform a broad range of dental procedures, including cosmetic
and complex surgical applications, and a full line of dental
imaging equipment. BIOLASE has sold more than 23,000 lasers. Other
laser products under development address ophthalmology and other
medical and consumer markets.
For updates and information on WaterLase® and laser dentistry,
find BIOLASE online at www.biolase.com, Facebook at
www.facebook.com/biolaseinc, Twitter at www.twitter.com/biolaseinc,
Pinterest at www.pinterest.com/biolase, LinkedIn at
www.linkedin.com/company/biolase, Instagram at
www.instagram.com/biolaseinc and YouTube at
www.youtube.com/biolasevideos.
BIOLASE® and WaterLase® are registered trademarks of BIOLASE,
Inc.
For further information, please contact: Michael Porter Porter,
LeVay & Rose, Inc. 212-564-4700
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