BIOLASE Technology to Raise $1.80M From Institutional Investors at $5.60 per Share

BIOLASE Technology, Inc. BLTI announced today that it has executed an agreement for the sale of 320,000 shares of its common stock at $5.60 per share to institutional investors in a registered direct offering for approximately $1.80 million in gross proceeds. The offering is expected to close on or before April 11, 2011, subject to customary closing conditions. The proceeds will be used for general corporate purposes.