BIOLASE Announces Inducement Grant under NASDAQ Listing Rule 5635(c)(4)

IRVINE, Calif.--(BUSINESS WIRE)--

BIOLASE, Inc. BIOL, the global leader in dental lasers, today announced that on July 13, 2015, Harold C. Flynn, Jr., the Company's President and Chief Executive Officer, received options to purchase 870,000 shares of the Company's common stock with an exercise price of $1.65 per share, the closing price per share on July 13, 2015. In addition, Mr. Flynn received an award of restricted stock units ("RSUs") with respect to 870,000 shares of the Company's common stock, which vest based upon certain performance criteria, subject to Mr. Flynn's continued service with the Company. One-fourth of the stock options vest on the one-year anniversary of grant, and the remaining three-fourths vest ratably on a monthly basis over a three-year period, subject to Mr. Flynn's continued service with the Company through the applicable vesting dates.

The stock options and the RSUs are subject to accelerated vesting upon a termination following a change of control. The stock options and RSUs were granted outside of the Company's stockholder-approved equity incentive plan and were approved by the Compensation Committee of the Board of Directors, which is comprised of independent directors, as an inducement material to Mr. Flynn's entering into employment with the Company, and in reliance on NASDAQ Listing Rule 5635(c)(4), which requires this public announcement.

About BIOLASE, Inc.

BIOLASE, Inc. is a medical device company that develops, manufactures, and markets innovative lasers in dentistry and medicine and also markets and distributes high-end 2D and 3D digital imaging equipment, CAD/CAM intraoral scanners, and in-office milling machines and 3D printers. BIOLASE's products are focused on technologies that advance the practice of dentistry to both the dentist and their patients. The Company's proprietary laser products incorporate approximately 200 patented and 150 patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. Its innovative products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE's principal products are revolutionary dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. BIOLASE has sold approximately 28,300 laser systems. Laser products under development address the Company's core dental market and other adjacent medical and consumer markets.

For updates and information on WaterLase and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc, Pinterest at www.pinterest.com/biolase, LinkedIn at www.linkedin.com/company/biolase, Google+ at www.google.com/+BIOLASEIrvine, Instagram at www.instagram.com/biolaseinc, and YouTube at www.youtube.com/biolasevideos.

BIOLASE^® and WaterLase® are registered trademarks of BIOLASE, Inc.

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