secwatch.observer — SEC 8-K summary
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Issuer:     BIOLASE, INC (—)
CIK:        0000811240
Form:       8-K
Filed at:   2023-11-17T23:59:59+00:00
Accession:  0001193125-23-279801
Event type: regulatory
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 3.01
LLM model:  deepseek-v4-flash:cloud@v2

BIOLASE receives Nasdaq delisting notice for equity of $332K vs $2.5M required
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- Stockholders' equity of $332K as of Sep 30, 2023 falls far below Nasdaq's $2.5M minimum listing requirement.
- Company has until Dec 29, 2023 to submit a compliance plan; Nasdaq may grant up to 180-day extension.
- Eleventh Amendment to credit agreement reduces Nov 2023 amortization payment to $165K and lowers minimum unencumbered liquid assets to $1.5M through Dec 30.
- Minimum liquid assets requirement rises to $2.5M thereafter and to $3.5M for quarters ending March 2024 and beyond.
- Company evaluating options to regain compliance but cannot assure success; delisting remains possible.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811240/000119312523279801/0001193125-23-279801-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811240/000119312523279801/d499098d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-279801

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