BIOLASE shares are trading lower after the company announced pricing of a $4.5 million underwritten public offering of Series J Convertible Redeemable Preferred Stock and warrants.
Portfolio Pulse from Benzinga Newsdesk
BIOLASE has announced the pricing of a $4.5 million underwritten public offering of Series J Convertible Redeemable Preferred Stock and warrants, causing its shares to trade lower.
September 14, 2023 | 1:22 pm
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BIOLASE's stock is trading lower after the company announced a $4.5 million underwritten public offering of preferred stock and warrants.
The announcement of a public offering often leads to a decrease in the company's stock price as it dilutes the value of existing shares. In this case, BIOLASE's announcement of a $4.5 million underwritten public offering has led to its shares trading lower.
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