RTTNews | Nov 24, 2021 10:04AM EST

10:04 Wednesday, November 24, 2021 (RTTNews.com) - BIOLASE, Inc. (BIOL) shares are rising more than 11 percent on Wednesday after Nasdaq granted a 180-day extension to regain compliance with the minimum bid price requirement. The extension is till May 23, 2022.

Earlier on November 18, the company has revealed an amendment to its senior secured term loan with SWK Funding LLC, an extension of the maturity of the loan to May 31, 2025, and a reduction of the effective interest rate on the loan by 200 basis points.

Currently, shares are at $0.46, up 11.19 percent from the previous close of $0.42 on a volume of 12,542,460. For the 52-week period, the shares have traded in a range of $0.27-$1.51 on average volume of 2,105,317.

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