Biolase Hits 52-Week Low of 7 Cents After Offering Prices

Dow Jones

2023/05/25

By Josh Beckerman

Shares of dental-laser company Biolase were recently down 41%, to 8 cents, with the stock hitting a 52-week low of 7 cents Wednesday, following the pricing of a $4.5 million offering of units.

The 52-week high of $5.94 took place on Aug. 12.

Each unit consists of a Series H convertible preferred share and a warrant to buy half of a preferred share.

Biolase said May 4 that it planned to offer units. The next day, shares declined 25%, to 20 cents.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

May 24, 2023 12:44 ET (16:44 GMT)

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