SOURCE: BIOLASE Technology, Inc.

BIOLASE Technology, Inc.

August 26, 2011 17:00 ET

BIOLASE Registration Statement on Form S-3 Declared Effective by the Securities and Exchange Commission

IRVINE, CA--(Marketwire - Aug 26, 2011) - BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental laser manufacturer and distributor, today announced that its Registration Statement on Form S-3 was declared effective on Thursday, August 25, 2011, by the Securities and Exchange Commission. The Registration Statement in connection with the private placement closed on June 29, 2011, registers for resale 1,625,947 shares of BIOLASE's common stock on behalf of certain security holders previously sold at a price of $5.55 per share, and 722,973 shares of BIOLASE common stock not yet outstanding that are issuable upon the exercise of warrants that are exercisable at $6.50 per share. The Company will not receive any of the proceeds from the resale of the shares covering the common stock previously sold. However, the Company will receive proceeds from the exercise of the warrants by the selling stockholders to the extent that the warrants are not exercised on a cashless or net basis.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of BIOLASE common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About BIOLASE Technology, Inc.
BIOLASE Technology, Inc., the World's leading Dental Laser Company, is a medical technology company that develops, manufactures and markets dental lasers and also distributes and markets dental imaging equipment, products that are focused on technologies that advance the practice of dentistry and medicine. The Company's laser products incorporate patented and patent pending technologies designed to provide clinically superior performance with less pain and faster recovery times. Its imaging products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE's principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. Other products under development address ophthalmology and other medical and consumer markets.

For updates and information on laser and Waterlase dentistry, find BIOLASE at http://www.biolase.com, Twitter at http://twitter.com/GoWaterlase, and YouTube at http://www.youtube.com/user/Rossca08.

This press release may contain forward-looking statements within the meaning of safe harbor provided by the Securities Reform Act of 1995 that are based on the current expectations and estimates by our management. These forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," and variations of these words or similar expressions. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks, uncertainties and other factors which may cause the Company's actual results to differ materially from the statements contained herein, and are described in the Company's reports it files with the Securities and Exchange Commission, including its annual and quarterly reports. No undue reliance should be placed on forward-looking statements. Such information is subject to change, and we undertake no obligation to update such statements.

Contact Information

  • For further information, please contact:
    Jill Bertotti
    of Allen & Caron
    +1-949-474-4300