FOREST, Calif., June 28,
2022 /PRNewswire/ -- BIOLASE, Inc. (NASDAQ: BIOL),
the global leader in dental lasers, announced today that it has
entered into a securities purchase agreement with a single
institutional investor to purchase approximately $6.5 million of its common stock and pre-funded
warrants in a registered direct offering and warrants to purchase
common stock in a concurrent private placement, priced
at-the-market under Nasdaq rules. The combined effective purchase
price for one share of common stock (or pre-funded warrant in lieu
thereof) and one warrant to purchase one share of common stock will
Under the terms of the securities purchase agreement, BIOLASE
has agreed to sell 1,405,405 shares of common stock (or pre-funded
warrants in lieu thereof). In a private placement, which will be
consummated concurrently with the registered direct offering,
BIOLASE also has agreed to issue warrants to purchase up to an
aggregate of 1,405,405 shares of common stock. The warrants will be
immediately exercisable, will expire five and a half years from the
date of issuance and will have an exercise price of $4.625 per share of common stock.
Maxim Group LLC is acting as the lead placement agent for the
offering. The Benchmark Company and Lake Street Capital Markets,
LLC are acting as co-placement agents for the offering.
The offering is expected to close on or about June 30, 2022, subject to the satisfaction of
customary closing conditions.
The shares of common stock and pre-funded warrants are being
offered pursuant to a shelf registration statement on Form S-3
(File No. 333-233172) previously filed and declared effective by
the Securities and Exchange Commission (SEC). The offering of the
shares of common stock and pre-funded warrants will be made only by
means of a prospectus supplement that forms a part of the
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
prospectus supplement relating to the shares of common stock and
pre-funded warrants will be filed by BIOLASE with the SEC. When
available, copies of the prospectus supplement relating to the
registered direct offering, together with the accompanying
prospectus, can be obtained at the SEC's website at www.sec.gov or
from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate
Department, or via email at email@example.com or
telephone at (212) 895-3745.
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 301 patented and 32
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 43,300 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.
BIOLASE®, Waterlase® and Waterlase iPlus® are registered
trademarks of BIOLASE, Inc.
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. 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 release. 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 "Risk Factors" section of BIOLASE's annual
report filed on Form 10-K filed with the Securities and Exchange
Commission. Except as required by law, BIOLASE does not undertake
any responsibility to revise or update any forward-looking
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SOURCE BIOLASE, Inc.