*Updated March 25, 2014 at 10 a.m. Eastern with comment from Biolase sales & marketing vice president Brian Jaffe.
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Biolase closes $5M private placement with Oracle
Biolase (NSDQ:BIOL) said it closed a $5 million private placement with Oracle Investment Management.
The surgical laser maker sold off a little more than 1.9 million shares for $2.57 each, with the deal closing on Feb. 10. The money is expected to go toward paying down its $4.6 million credit facility with Comerica Bank, according to chairman & CEO Federico Pignatelli .