FOOTHILL RANCH, Calif.,
May 3, 2021 /PRNewswire/
-- BIOLASE, Inc. (NASDAQ: BIOL), the global leader in
dental lasers, today sent the following letter to stockholders
regarding the upcoming 2021 annual meeting of stockholders
scheduled to be held on May 26,
2021.
The text of the letter is as follows:
May 3, 2021
Dear Fellow BIOLASE Stockholders,
The Board of Directors and management team of BIOLASE, Inc.
thank you for your continued support for BIOLASE. Like you, we are
only interested in the continued success and growth of BIOLASE.
As we emerge from the impact of COVID-19, we believe it is
important to preserve BIOLASE's strategic flexibility to grow and
create shareholder value. As such, the Board is asking for
you to vote TODAY "FOR" ALL proposals at the upcoming 2021 annual
meeting.
We believe that voting FOR ALL proposals together
will:
- Help ensure continued listing of BIOLASE common stock on The
Nasdaq Capital Market;
- Attract institutional investors to BIOLASE;
- Attract and retain employees and other service providers;
and
- Promote greater liquidity for our stockholders
More specifically:
Proposal
|
Why the Board
Believes You Should Vote FOR the Proposal
|
#3—the amendment to
the BIOLASE, Inc. 2018 Long-Term Incentive Plan to increase the
number of shares available for issuance under the Plan
|
Increasing the number
of shares available for equity grants will: - Enable us to conserve cash by offering
equity-based
compensation in lieu of cash compensation to
employees and other service providers
|
|
|
#4—the amendment of
the BIOLASE, Inc. charter to effect a reverse stock
split
|
A reverse stock split
will:
- Reduce the likelihood
that our common stock will be
delisted from the Nasdaq Capital Market
- Likely result in a
higher stock price, enhancing the
marketability of our common stock to institutional
and
other investors, increasing trading liquidity and
helping us to attract and retain employees
|
#5—the amendment of
the BIOLASE, Inc. charter to increase the number of authorized
shares
|
Increasing the number
of authorized shares will:
- Permit us to amend
our equity compensation plan as
described above
- Provide future
flexibility for general corporate
purposes and for raising capital (although we do
not
anticipate needing any additional capital in the near
term)
Without the increase,
we have less than 3 million shares of common stock authorized,
unissued and available for general corporate purposes
|
If you have already submitted a proxy, you may change your vote
prior to the annual meeting by voting again using the same
materials. Only your latest dated vote counts.
If you have already submitted a proxy by telephone or over the
Internet and you would like to change your vote, please call our
proxy solicitor, D.F. King & Co., Inc., at (800) 347-4750, or
click on the original voting link you used to submit your vote from
the email you received with the proxy materials (if you hold at
Robinhood, look for an email from Proxydocs.com, and for all other
stockholders, check for an email from Proxyvote.com). You can
also email D.F. King & Co., Inc. at BIOL@dfking.com.
Thank you,
John R. Beaver
President and Chief Executive Officer
If you need any assistance voting your shares,
please contact our proxy solicitor at:
D.F. King & Co, Inc.
48 Wall Street, 22nd Floor
New York, NY 10005
Call Toll-Free: (800) 347-4750
Banks and Brokers Call: (212) 269-5550
BIOL@dfking.com
About BIOLASE
BIOLASE is a medical device company that develops, manufactures,
markets, and sells laser systems in dentistry and medicine.
BIOLASE's products advance the practice of dentistry and medicine
for patients and healthcare professionals. BIOLASE's proprietary
laser products incorporate approximately 271 patented and 40
patent-pending technologies designed to provide biologically and
clinically superior performance with less pain and faster recovery
times. BIOLASE's innovative products provide cutting-edge
technology at competitive prices to deliver superior 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. BIOLASE has sold over 41,200 laser systems to date in
over 80 countries around the world. Laser products under
development address BIOLASE's core dental market and other adjacent
medical and consumer applications.
For updates and information on Waterlase iPlus®, Waterlase
Express™, and laser dentistry, find BIOLASE online at
www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at
www.twitter.com/biolaseinc, Instagram at
www.instagram.com/waterlase_laserdentistry, and LinkedIn at
www.linkedin.com/company/biolase.
BIOLASE®, Waterlase® and Waterlase iPlus® are registered
trademarks of BIOLASE, Inc.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains forward-looking statements, as that
term is defined in the Private Litigation Reform Act of 1995, that
involve significant risks and uncertainties, including statements,
regarding the anticipated effects of stockholder approval of
matters to be voted on at BIOLASE's 2021 annual meeting of
stockholders (the "Annual Meeting"). Forward-looking statements can
be identified through the use of words such as may," "might,"
"will," "intend," "should," "could," "can," "would," "continue,"
"expect," "believe," "anticipate," "estimate," "predict,"
"outlook," "potential," "plan," "seek," and similar expressions and
variations or the negatives of these terms or other comparable
terminology. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect BIOLASE's current
expectations and speak only as of the date of this communication.
Actual results may differ materially from BIOLASE's current
expectations depending upon a number of factors. These factors
include, among others, those risks and uncertainties that are
described in the definitive proxy statement filed by BIOLASE with
the Securities and Exchange Commission (the "SEC") in connection
with the Annual Meeting and in the "Risk Factors" section of
BIOLASE's most recent annual report on Form 10-K filed with the
SEC. Except as required by law, BIOLASE does not undertake any
responsibility to revise or update any forward-looking
statements.
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SOURCE BIOLASE, Inc.