Sonendo to acquire certain Biolase assets for $14M; files $59M patent claim

Sonendo, Inc.

Sonendo signs asset purchase agreement to buy dental laser assets of bankrupt Biolase for $14M cash plus liability assumption.
Sonendo designated as stalking horse bidder; sale subject to Bankruptcy Court approval and higher competing bids.
Break-up fee of $420K plus expense reimbursement payable if Sellers accept a competing bid.
Sonendo subsidiary files $59M proof of claim in Biolase bankruptcy for alleged patent infringement.
Transaction expected to close by Dec 31, 2024; no assurances of successful acquisition.

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