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Welcome to Biofrontera

We have specialized in dermatology, as your skin's health is our concern.
We aim to protect and heal your skin with our innovative medication for photodynamic therapy.

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PTA-News: Biofrontera AG: Biofrontera AG announces the registration of the capital increase

Business news for the stock market

Leverkusen, Germany (pta028/13.06.2024/16:30) - Biofrontera AG (ISIN: DE000A4BGGM7), an international biopharmaceutical company, announces the registration of the capital increase resolved on April 4th in the commercial register. The company is issuing a total of 3,038,431 new ordinary shares, increasing the company's share capital to 6,076,862 upon the entry in the commercial register.

The capital measure was fully subscribed, generating gross proceeds of approximately EUR 3.3 million for the company.

"The issuance of the new shares was met with significant interest from the capital market, as evidenced by the substantial oversubscription. We greatly appreciate the strong support from our major shareholder, who facilitated the success of the capital measure through a backstop agreement to acquire up to 1.6 million shares and a stock loan to ensure the prompt tradability of the issued shares. We are very pleased that Biofrontera has generated such high interest in the capital market, resulting in a substantial oversubscription. The funds raised from this capital measure will enable us to further advance our corporate strategy, strengthen our European business, and gradually reduce our dependence on U.S. licensing revenue," commented Pilar de la Huerta, CFO of Biofrontera AG. "Although 2024 will be challenging, we are confident that our product delivery to US will soon return to its normal levels, allowing us to come back, at least, to 2023 EBITDA levels. Additionally, our next steps will be to expand our portfolio and increase our presence in additional markets, thereby further advancing the positive development of Biofrontera."

Following the successful capital measure, the stake of the major shareholder, Deutsche-Balaton Group, has increased to 61.2%.

The oversubscription registered as part of the capital measure was allocated according to the ratio of the execution of rights by each shareholder to the total of all executions of rights with oversubscription.

The delivery of the subscribed shares to the custody accounts can now proceed in the coming days, as announced, through the delivery of shares under the listed ISIN DE000A4BGGM7, which will be provided by Deutsche Balaton Group based on a share loan. The new shares, delivered to repay the share loan, will initially receive the separate ISIN DE000A409625 and will only be admitted to trading on the regulated market after the approval of a securities prospectus by the German Federal Financial Supervisory Authority (BaFin) and the holding of the Annual General Meeting for the fiscal year 2023. The Management Board of the company intends to implement the admission of the new shares within the one-year period stipulated in Section 69 of the BörsZulassungsverordnung (BörsZulV).

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About Biofrontera

Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics. The Leverkusen-based company develops and markets innovative products for the treatment, protection and care of the skin. Its key products include Ameluz®, a prescription drug for the treatment of non-melanoma skin cancer and its precursors. Ameluz® has been marketed in the EU since 2012 and in the USA since May 2016. Biofrontera is one of a few German pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 and is listed on the Frankfurt Stock Exchange (Prime Standard). www.biofrontera.com

Forward-Looking Statements:

Certain statements in this press release are forward-looking. These statements may be identified by the use of forward-looking words such as "will," "anticipate," "believe," "forecast," "estimate" and "intend," among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.

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emitter: Biofrontera AG
address: Hemmelrather Weg 201, 51377 Leverkusen
country: Germany
contact person: Investor Relations
phone: +49 (0) 214 87 63 20
e-mail: ir@biofrontera.com
website: www.biofrontera.com

ISIN(s): DE000A4BGGM7 (share)
stock exchanges: regulated market in Dusseldorf, Frankfurt; free market in Munich, free market in Stuttgart; open market in Berlin, Tradegate

[ source: https://www.pressetext.com/news/20240613028 ]