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BioLase Successfully Completes Secondary Public Offering
3/8/2004 2:54:00 PM
SAN CLEMENTE, Calif., Mar 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- BioLase Technology, Inc. (BLTI) , a medical technology company that develops, manufactures and markets lasers and related products focused on improving dental procedures, announced that it has successfully completed its secondary public offering of 2,807,500 shares at a price of $18.50 per share. The offering included 2,500,000 newly issued shares sold by the company, and 307,500 shares sold by American Medical Technologies, a stockholder of the company. The proceeds of the offering were received by the Company on March 3, 2004.
Federico Pignatelli, Chairman of the Board of Directors of BIOLASE commented, "We are pleased to have completed this important milestone in the Company's development. During the years I have been the Chairman of the Company, BioLase has come a very long way. It is my belief that the next years will be very exciting and rewarding.
Jeffrey W. Jones, CEO and President said, "With the offering behind us, we can focus our resources on the business. We believe our balance sheet is now more in line with our sales growth. We intend to use the proceeds of the offering to add strength to our growth, and flexibility to capture marketing leverage, and grow the company in a healthy fashion."
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