BIOLASE, Inc. Announces Pricing Of $7M Public Offering Of 16M Units At A Price Of $0.44/Unit
Portfolio Pulse from Benzinga Newsdesk
BIOLASE, Inc. (NASDAQ:BIOL), a leader in dental lasers, announced a public offering of 16M units at $0.44 each, aiming to raise $7M. Units include a share of common stock (or a pre-funded warrant), and two types of warrants exercisable at $0.66 and $0.748. The offering, managed by Lake Street Capital Markets, LLC and Maxim Group LLC, is set to close on February 15, 2024.
February 13, 2024 | 2:18 pm
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BIOLASE, Inc. is raising $7M through a public offering of 16M units at $0.44 each, including common stock and warrants, with a closing date of February 15, 2024.
Public offerings often lead to short-term price declines due to the dilution of existing shares. The offering price of $0.44 per unit may also set a temporary ceiling on the stock price, as it represents a discounted rate compared to the market price prior to the announcement. The introduction of additional warrants could further dilute the stock in the future, potentially putting downward pressure on the price.
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