SOURCE: BIOLASE, Inc.

BIOLASE, Inc.

August 14, 2013 15:28 ET

BIOLASE to Reduce Total Offering on Form S-3 From $30 Million to $5 Million

IRVINE, CA--(Marketwired - Aug 14, 2013) - BIOLASE, Inc. (NASDAQ: BIOL), the world's leading manufacturer and distributor of dental lasers, and a pioneer in laser surgery in other medical specialties, today announced that due to the unwarranted amount of confusion in the marketplace that has ensued since the filing of the registration statement on Form S-3, originally filed with the Securities and Exchange Commission (the "SEC") on July 26, 2013, BIOLASE will reduce the registration statement from $30 million to $5 million.

Federico Pignatelli, Chairman and CEO, said, "Speculative forces have manipulated the market to believe that we are in a liquidity crunch and that we must raise a large amount of money to continue our operations. This is absolutely false. However, in response to this wild speculation we will file an amendment with the SEC as soon as possible to reduce the total of our registration statement on Form S-3 from $30 million to only $5 million. 

"It should also be noted that we are entering into our 'high season' from September to December where BIOLASE generates a large percentage of its revenue and generates cash. Therefore, the rumors that BIOLASE must raise a high level of capital in the near term are totally uncalled for. In addition, we expect our DaVinci Imaging Division, which sells NewTom digital imaging products and 3Shape CAD/CAM intraoral scanners, to transition from a negative contribution loss to a positive contribution profit for the remainder of the year," concluded Pignatelli.

About BIOLASE, Inc.
BIOLASE, Inc. is a biomedical company that develops, manufactures, and markets innovative lasers in dentistry and medicine and also markets and distributes high-end 2D and 3D digital imaging equipment and CAD/CAM intraoral scanners; products that are focused on technologies that advance the practice of dentistry and medicine. The Company's proprietary laser products incorporate approximately 340 patented and patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. Its innovative products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE's principal products are revolutionary 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. BIOLASE has sold more than 23,000 lasers. Other laser products under development address ophthalmology and other medical and consumer markets.

For updates and information on WaterLase® and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolaseinc, Twitter at www.twitter.com/biolaseinc, Pinterest at www.pinterest.com/biolase, LinkedIn at www.linkedin.com/company/biolase, Instagram at www.instagram.com/biolaseinc and YouTube at www.youtube.com/biolasevideos.

BIOLASE® and WaterLase® are registered trademarks of BIOLASE, Inc.

Contact Information

  • For further information, please contact:
    Michael Porter
    Porter, LeVay & Rose, Inc.
    212-564-4700