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Tuesday May 19, 8:17 am Eastern TimeCompany Press ReleaseSOURCE: BIOLASE Technology, Inc.BIOLASE Technology, Inc. Completes $3,900,000 Private Placement
SAN CLEMENTE, Calif., May 19 /PRNewswire/ -- BIOLASE Technology, Inc. (Nasdaq: BLTI - news), a provider of laser-based advanced cosmetic, aesthetic, dental and surgical products, announced today that the Company has completed Regulation D private placement. Gross proceeds from the private placement were $3,900,000, with net proceeds, after commissions and estimated expenses, of $3,533,000.
The Company intends to use the net cash proceeds from the offering for general working capital purposes and to fund the refinement and improvement of existing products and products currently under development.
Federico Pignatelli, Chairman of the Board of BIOLASE stated, ''We received tremendous interest in the private placement, and we are very pleased that the offering was widely over subscribed.''
BIOLASE Technology, Inc. manufactures and markets advanced cosmetic, aesthetic, dental and surgical products, including laser systems, HydroKinetic(TM) surgical cutting systems, and develops specialized biomaterials for dentistry and other medical specialties. The Company's products incorporate patented and patent-pending technologies that permit achievement of unique results.
The matters discussed in this news release include forward looking- statements which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to, the effect of actions of third parties, including governmental officials, the timely development and acceptance of new products, the impact of competitive products and pricing, and other risks detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, including the reports on Form 10-K and 10Q. Actual results may differ materially from those projected. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.
SOURCE: BIOLASE Technology, Inc.
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More Quotes and News:Biolase Technology Inc (Nasdaq:BLTI - news)Related News Categories: medical/pharmaceutical
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