BIOLASE has agreed to sell an aggregate of 14.16 million shares of its common stock at the price of $2.39 per share in a private placement transaction to the investors. In addition, the investors will receive warrants to purchase up to an aggregate of 9.2 million shares of BIOLASE common stock at an exercise price of $4 per share.
“We are pleased that our financial partners have expressed their confidence in our new strategy to deliver on the promise of laser dentistry and BIOLASE’s position as the industry leader through this investment. Our new experienced senior management team is already making progress in driving growth and innovation, and we are committed to growing BIOLASE and building shareholder value,” Jeffrey M. Nugent, president, CEO and a director of BIOLASE.
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