Biolase (BIOL) Prices $9.75M Share Offering at $0.35/sh

BIOLASE, Inc. (NASDAQ: BIOL) ("BIOLASE" or the "Company"), a global leader in dental lasers, today announced the pricing of an underwritten public offering consisting of 16,453,569 shares of its common stock and pre-funded warrants to purchase 11,403,571 shares of common stock at a public offering price of $0.35 per share or $0.34 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.01 per share, are exercisable immediately, and will not expire until exercised. The offering is expected to close on January 12, 2023, subject to customary closing conditions.

Lake Street Capital Markets, LLC is acting as the sole book-running manager for the offering and The Benchmark Company, LLC is acting as co-manager for the offering.

The gross proceeds to BIOLASE from the offering, before underwriting discounts and commissions and offering expenses, are expected to be approximately $9.75 million. BIOLASE intends to use the net proceeds from the offering for working capital and for general corporate purposes.

A registration statement on Form S-1 (File No. 333-268528) relating to the securities being offered was previously filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). The offering is being made only by means of a prospectus that forms a part of the registration statement. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website, located at www.sec.gov. Alternatively, copies of the prospectus may be obtained, when available, from Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by calling (612) 326-1305, or by emailing [email protected]. Before you invest, you should read the prospectus, together with the information incorporated therein, for more complete information about Biolase and the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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