Biolase prices 16M units at 44c in public offering

BIOLASE announced the pricing of its public offering of 16,000,000 units, with each unit consisting of one share of common stock one Class A Warrant to purchase one share of common stock, and one Class B Warrant to purchase one share of common stock. Each unit is being sold at an effective public offering price of $0.44. The Class A warrants will be immediately exercisable at a price of $0.66 per share and will expire five years from the date of issuance. The Class B warrants will be exercisable on the date of stockholder approval at a price of $0.748 per share and will expire five years from the date of such stockholder approval. The shares of common stock and accompanying warrants can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately $7.0 million. The offering is expected to close on February 15, 2024, subject to customary closing conditions. Lake Street Capital Markets, LLC and Maxim Group LLC are acting as joint placement agents for the offering.