FOOTHILL RANCH, Calif.,
Nov. 4, 2021 /PRNewswire/
-- 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
- "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."
- "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
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
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
BIOLASE®, Waterlase® and Waterlase iPlus® are registered
trademarks of BIOLASE, Inc.
Permission to quote was neither sought nor obtained. Emphasis
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SOURCE BIOLASE, Inc.