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Wednesday, Apr 8, 2026

Biolase Drops 41% After Offering

Tries to raise $4.5 million for working capital

Shares of Lake Forest-based Biolase Inc. (Nasdaq: BIOL), a maker of dental lasers, fell 41% today after announcing a $4.5 million public offering.

The company offered Series H stock that can be converted for 13.98 cents each. The offering is expected to close on May 26.

Biolase intends to use the $4.5 million in gross proceeds for working capital and for general corporate purposes.

Shares fell to 8 cents each and a $2.5 million market cap. The shares are now down 99% from their 52-week high of $5.94 last August.

Lake Street Capital Markets LLC and Maxim Group LLC are acting as joint book-runners for the offering.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

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