Monday, August 1, 2016
BIOLASE Raises $10M In PIPE
Irvine-based dental laser maker BIOLASE, which trades on the NASDAQ as BIOL, said this morning that it has raised a private placement worth $10M. The funding came from Jack W. Schuler Living Trust, Oracle Partners, L.P. and Oracle Institutional Partners L.P., along with a number of its directors and officers. Biolase said the investors are paying $113.00 per share in stock, for 88,494 shares of its convertible preferred stock. Each share of that convertible preferred stock converts to 100 shares of its common stock, which was last trading at $1.13 per share.