FOOTHILL RANCH, Calif.,
March 1, 2022 /PRNewswire/ --
BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers,
today announced that its Board of Directors declared a dividend of
one one-thousandth of a share of newly-designated Series G
Preferred Stock, par value $0.001 per
share, for each outstanding share of BIOLASE common stock held of
record as of 5:00 p.m. Eastern Time
on March 25, 2022. The
outstanding shares of Series G Preferred Stock will vote together
with the outstanding shares of the Company's common stock, as a
single class, exclusively with respect to a reverse stock split and
will not be entitled to vote on any other matter, except to the
extent required under the Delaware General Corporation Law.
Subject to certain limitations, each outstanding share of Series G
Preferred Stock will have 1,000,000 votes per share (or 1,000 votes
per one one-thousandth of a share of Series G Preferred
All shares of Series G Preferred Stock that are not present in
person or by proxy at the meeting of stockholders held to vote on
the reverse stock split as of immediately prior to the opening of
the polls at such meeting will automatically be redeemed by
BIOLASE. Any outstanding shares of Series G Preferred Stock
that have not been so redeemed will be redeemed if such redemption
is ordered by BIOLASE's Board of Directors or automatically upon
the effectiveness of the amendment to BIOLASE's certificate of
incorporation effecting the reverse stock split.
The Series G Preferred Stock will be uncertificated, and no
shares of Series G Preferred Stock will be transferable by any
holder thereof except in connection with a transfer by such holder
of any shares of BIOLASE common stock held by such holder. In
that case, a number of one one-thousandths of a share of Series G
Preferred Stock equal to the number of shares of BIOLASE common
stock to be transferred by such holder would be transferred to the
transferee of such shares of common stock.
Further details regarding the Series G Preferred Stock will be
contained in a Form 8-K to be filed by BIOLASE with the Securities
and Exchange Commission.
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 300 patented and 35
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
Cautionary Statement Regarding Forward-Looking Statements
This press release 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 expected timing of the issuance of the Series G
Preferred Stock'. 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,"
"guidance," "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
SOURCE BIOLASE, Inc.