Biolase (BIOL) Regains Nasdaq Compliance

BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today announced that it has received notice from the Nasdaq Stock Market LLC (Nasdaq) on May 13, 2022 informing BIOLASE that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on The Nasdaq Capital Market. Consequently, BIOLASE is now in compliance with all applicable listing standards and its common stock will continue to be listed on The Nasdaq Capital Market.

BIOLASE was previously notified by Nasdaq on May 24, 2021 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance with the Rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. The requirement was met on May 12, 2022, the tenth consecutive trading day when the closing bid price of the Company's common stock was over $1.00.

On April 28, 2022, BIOLASE announced that it had effected a 1-for-25 reverse stock split that became effective at 11:59 p.m. ET that same day, and that BIOLASE common stock would begin trading on a split-adjusted basis at the opening of the market on April 29, 2022. The purpose of the reverse stock split was to raise the per share trading price of the Company common stock to continue its listing on the Nasdaq Capital Market.

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