BIOLASE, Inc. Announces Pricing Of $1.4M Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
BIOLASE, Inc. (NASDAQ:BIOL) has announced a registered direct offering and concurrent private placement priced at-the-market under Nasdaq rules, totaling approximately $1.4 million. The offering includes common stock and pre-funded warrants, along with additional warrants to purchase common stock, with an effective purchase price of $1.23 per share. The proceeds are intended for working capital, capital expenditures, product development, and sales and marketing investments. Maxim Group LLC is the sole placement agent, and the offering is expected to close on December 8, 2023.
December 06, 2023 | 6:47 pm
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BIOLASE, Inc. is raising $1.4 million through a direct offering at $1.23/share, which may dilute current shareholders but provide capital for growth and marketing.
The direct offering is likely to have a dilutive effect on existing shareholders, which can lead to a short-term negative impact on the stock price. However, the capital raised will be used for potentially value-adding activities such as product development and marketing, which could have positive long-term effects.
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