LAKE FOREST, Calif.,
June 5, 2023 /PRNewswire/
-- BIOLASE, Inc. (NASDAQ: BIOL) ("BIOLASE" or
the "Company"), a global leader in dental lasers, today
announced that its Board of Directors declared a dividend of
one one-thousandth of a share of newly-designated Series I
Preferred Stock, par value $0.001 per
share, for each outstanding share of BIOLASE common stock held of
record as of 5:00 p.m. Eastern Time
on June 16, 2023. The outstanding
shares of Series I Preferred Stock will vote together with the
outstanding shares of the Company's common stock, as a single
class, exclusively with respect to a reverse stock split and will
not be entitled to vote on any other matter, except to the extent
required under the Delaware General Corporation Law. Subject to
certain limitations, each outstanding share of Series I Preferred
Stock will have 1,000,000 votes per share (or 1,000 votes per one
one-thousandth of a share of Series I Preferred Stock).
All shares of Series I Preferred Stock that are not present in
person or by proxy at the meeting of stockholders held to vote on
the reverse stock split as of immediately prior to the opening of
the polls at such meeting will automatically be redeemed by
BIOLASE. Any outstanding shares of Series I Preferred Stock that
have not been so redeemed will be redeemed if such redemption is
ordered by BIOLASE's Board of Directors or automatically upon the
effectiveness of the amendment to BIOLASE's certificate of
incorporation effecting the reverse stock split.
The Series I Preferred Stock will be uncertificated, and no
shares of Series I Preferred Stock will be transferable by any
holder thereof except in connection with a transfer by such holder
of any shares of BIOLASE common stock held by such holder. In that
case, a number of one one-thousandths of a share of Series I
Preferred Stock equal to the number of shares of BIOLASE common
stock to be transferred by such holder would be transferred to the
transferee of such shares of common stock.
Further details regarding the Series I Preferred Stock will be
contained in a Form 8-K to be filed by BIOLASE with the Securities
and Exchange Commission on or about the date hereof.
About BIOLASE
BIOLASE is a medical device company that develops, manufactures,
markets, and sells laser systems in dentistry and medicine.
BIOLASE's products advance the practice of dentistry and medicine
for patients and healthcare professionals. BIOLASE's proprietary
laser products incorporate approximately 266 actively patented and
25 patent-pending technologies designed to provide biologically and
clinically superior performance with less pain and faster recovery
times. BIOLASE's innovative products provide cutting-edge
technology at competitive prices to deliver superior 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. From 1998
through December 31, 2022, BIOLASE has sold over 45,500 laser
systems in over 80 countries around the world. Laser products under
development address BIOLASE's core dental market and other adjacent
medical and consumer applications.
BIOLASE®, Waterlase® and Waterlase
iPlus® are registered trademarks of BIOLASE,
Inc.
Forward Looking Statements
This communication contains certain "forward-looking
statements" within the meaning of the U.S. federal securities laws.
Such statements are based upon various facts and derived utilizing
numerous important assumptions and are subject to known and unknown
risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Statements preceded by,
followed by or that otherwise include the words "believes,"
"expects," "anticipates," "intends," "projects," "estimates,"
"plans" and similar expressions or future or conditional verbs such
as "will," "should," "would," "may" and "could" are generally
forward-looking in nature and not historical facts, although not
all forward-looking statements include the foregoing. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which reflect BIOLASE's current expectations and speak
only as of the date of this release. Actual results may differ
materially from BIOLASE's current expectations depending upon a
number of factors. These factors include, among others, those risks
and uncertainties that are described in the "Risk Factors" section
of BIOLASE's Annual Report on Form 10-K for the year
ended December 31, 2022, and other filings made by BIOLASE
with the SEC. Except as required by law, BIOLASE does not undertake
any responsibility to revise or update any forward-looking
statements.
Investor Relations:
EVC Group, Inc.
Michael Polyviou/Todd Kehrli
(732) 232-6914
mpolyviou@evcgroup.com; tkehrli@evcgroup.com
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SOURCE BIOLASE, Inc.