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PTA-Adhoc: Biofrontera AG: Biofrontera Inc. closes IPO

Public disclosure of inside information according to article 17 MAR

Leverkusen, Germany (pta051/02.11.2021/19:45) - On July 6, 2021, Biofrontera AG announced that Biofrontera Inc. intends to raise capital by means of an initial public offering and a stock exchange listing in the United States ("IPO"). Reference is made to the further announcements dated October 01, 2021, October 27, 2021, and October 29, 2021.
Within today's closing of the IPO, Biofrontera Inc. placed 3,600,000 units ("Units") consisting of one new Biofrontera Inc. share and one warrant entitling the holder to one additional new Biofrontera Inc. share at a public offering price of USD 5.00 per Unit. The underwriters have also fully exercised their over-allotment option for 540,000 additional options.
Each warrant has an exercise price of USD 5.00 and expires five years from the date of issuance.
The common stock and warrants are traded on the Nasdaq Capital Market under the ticker symbols "BFRI" and "BFRIW," respectively.
The gross proceeds to Biofrontera from the offering, before deducting the underwriting discounts and commissions and offering expenses, amount to approx. USD 18,000,000.
Biofrontera AG now holds, before exercise of the outstanding options on shares of Biofrontera Inc., 69 % of the shares in Biofrontera Inc.


emitter: Biofrontera AG
address: Hemmelrather Weg 201, 51377 Leverkusen
country: Germany
contact person: Investor Relations
phone: +49 (0) 214 87 63 20

ISIN(s): DE0006046113 (share)
stock exchanges: regulated market in Frankfurt, Dusseldorf; free market in Stuttgart, free market in Munich; open market in Berlin, Tradegate
other stock exchanges: Nasdaq

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