Egg,
Looks like they are floating some shares out there to pay debt. Good time to do that when your stock is up so much.
Joe
Dow Jones Business News
Biolase Technology Files for 2.5 Million Shares
Thursday June 19, 8:51 am ET
SAN CLEMENTE, Calif. (Dow Jones)--Biolase Technology Inc. filed for the public offering of 2.5
million common shares.
In a press release Thursday, the medical technology company said it would use the proceeds
for general corporate purposes, including debt repayment, capital expenditures, working capital
and potential acquisitions.
Biolase expects that the underwriters will be granted an overallotment option of 375,000
common shares.
The managing underwriters for the proposed offering are Needham & Co., William Blair & Co.
and Fahnestock & Co.
Shares of Biolase, which makes dental laser systems, closed Wednesday at $ 12.82, up 69
cents, or 5.7%, in Nasdaq trading. |
