BIOLASE Inc BIOL shares are buying and selling decrease by 38% to $2.03 Thursday morning after the corporate introduced pricing of a $4.5 million underwritten public providing of Sequence J Convertible Redeemable Most well-liked Inventory and warrants.
Earlier than underwriting reductions and commissions and providing bills, gross proceeds are anticipated to be roughly $4.5 million.
BIOLASE intends to make use of the web proceeds from the providing for working capital and for common company functions.
Lake Road Capital Markets, LLC and Maxim Group LLC are appearing as joint bookrunners for the providing.
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In line with information from Benzinga Professional, BIOL has a 52-week excessive of $346.99 and a 52-week low of $1.74.
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