Leading Independent Proxy Advisory Firms Glass Lewis and ISS Recommend
BIOLASE Stockholders Vote “FOR” Reverse Stock Split
Foothill Ranch, Calif., November 4, 2021 – BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today announced
that the two leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”), are each recommending that stockholders vote “FOR” the amendment to
the BIOLASE, Inc. Certificate of Incorporation to effect a reverse stock split (without reducing the authorized number of shares of common stock) (the “Reverse Stock Split”). Stockholders will be asked to vote on the Reverse Stock Split at
BIOLASE’s upcoming special meeting of stockholders scheduled to be held on November 19, 2021.
In its report, Glass Lewis noted:1
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“We agree with the board that it is in the best interest of the Company to reduce the number of
shares of common stock outstanding and thereby attempt to proportionally raise the per-share price of the Company’s common stock.”
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“A higher stock price may help to increase investor interest, attract and retain employees and
improve the Company’s ability to raise additional capital through equity offerings.”
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John R. Beaver, President and
Chief Executive Officer of BIOLASE, commented, “BIOLASE is pleased that ISS and Glass Lewis are each recommending that our stockholders vote in favor of the Reverse Stock Split. We look forward to putting this matter behind us and continue
working toward the future of BIOLASE.”
The BIOLASE Board of Directors strongly recommends that stockholders approve the Reverse Stock Split
and encourages stockholders to vote as promptly as possible. Stockholders can vote by mail, Internet or telephone according to the instructions on each Internet Notice, proxy card or voting instruction card received. Proxy materials and
Internet voting are available at www.investorvote.com/BIOL.
BIOLASE reminds stockholders that every vote is important, no matter how
many or few shares it represents. If you have already submitted a proxy, you may change your vote prior to the Special Meeting by voting again using the same materials. Only your latest dated vote counts. If you hold at Robinhood, look
for an email from Proxydocs.com, and for all other stockholders, check for an email from Proxyvote.com.
BIOLASE stockholders who need assistance in
voting their shares may contact BIOLASE’s proxy solicitor, DF King, by emailing BIOL@dfking.com or calling (800) 347-4750.
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
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Permission to quote was neither sought nor obtained. Emphasis added.
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