Leading Independent Proxy Advisory Firms Glass
Lewis and ISS Recommend
BIOLASE Stockholders Vote “FOR” Reverse Stock
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
“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
Permission to quote was neither sought nor obtained.