Biolase announces pricing of $1.4M registered direct offering

Biolase announced that it has entered into a securities purchase agreement with a single institutional investor to purchase approximately $1.4M of its common stock and pre-funded warrants in a registered direct offering and warrants to purchase common stock in a concurrent private placement, priced at-the-market under Nasdaq rules. The combined effective purchase price for one share of common stock, or pre-funded warrant in lieu thereof, and two warrants, each to purchase one share of common stock, will be $1.23. The company intends to use a portion of the net proceeds from this offering for working capital, capital expenditures, product development, and other general corporate purposes, including investments in sales and marketing in the United States and internationally. Maxim Group is acting as the sole placement agent for the offering.