Here's Why BIOLASE Shares Were Volatile This Week
Portfolio Pulse from Henry Khederian
BIOLASE Inc's shares have dropped by 37% to $2.00 over the past week following the announcement of a $4.5 million underwritten public offering of Series J Convertible Redeemable Preferred Stock and warrants. The company plans to use the proceeds for working capital and general corporate purposes. Lake Street Capital Markets, LLC and Maxim Group LLC are the joint bookrunners for the offering.
September 15, 2023 | 1:56 pm
News sentiment analysis
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NEGATIVE IMPACT
BIOLASE's stock price has dropped significantly following the announcement of a public offering, indicating a negative market reaction.
The announcement of the public offering has led to a significant drop in BIOLASE's stock price. This suggests that investors may be concerned about the dilution of shares or the company's financial health, leading to a sell-off.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100