Dental laser company Biolase's board of directors approved a 1-for-100 reverse stock split.
The reverse split will shrink the number of Biolase shares from approximately 104 million to approximately 1.04 million, according to a July 26 news release from the company.
The reason for the split is to increase the stock's price to allow for continuous listing on the Nasdaq Capital Market.
The stock will begin trading at the new basis when the market opens July 28, the release said.