LAKE FOREST, CA - BIOLASE, Inc. (NASDAQ:BIOL), known for its dental laser systems, announced today the pricing of a public offering expected to generate approximately $7 million in gross proceeds. The offering comprises 16 million units at $0.44 each, with each unit consisting of a share of common stock or a warrant to purchase a share, and two classes of warrants to buy additional shares.
The Class A warrants, exercisable at $0.66 per share, will become effective immediately and remain valid for five years from the date of issuance. Class B warrants, priced at $0.748 per share, will be exercisable upon stockholder approval and will also expire after five years from that date. The offering, which is subject to standard closing conditions, is slated to close on February 15, 2024.
Lake Street Capital Markets, LLC and Maxim Group LLC are serving as joint placement agents for the offering.
BIOLASE specializes in the development, manufacturing, marketing, and sale of laser systems for dental and medical applications. As of December 31, 2023, the company's laser products feature approximately 241 patented and 21 patent-pending technologies.
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