B8F Biofrontera

Biofrontera AG resolves to issue qualified subordinated mandatory convertible bonds

Biofrontera AG resolves to issue qualified subordinated mandatory convertible bonds

Leverkusen, Germany, Feb. 26, 2020 (GLOBE NEWSWIRE) -- The Executive Board of Biofrontera AG (NASDAQ ticker symbol: BFRA, ISIN: DE0006046113), today resolved, with the approval of the Supervisory Board, to issue two qualified subordinated mandatory convertible bonds.

The following are to be issued (i) 0.5 % qualified subordinated mandatory convertible bond 2020/2024 and (ii) 1.0 % qualified subordinated mandatory convertible bond 2020/2026.

Both mandatory convertible bonds consist of up to 1,600,000 bonds with a principal amount of EUR 5.00 each and a total principal amount of up to EUR 8,000,000.

In accordance with the bond terms and conditions, each of these bonds can be converted into no-par ordinary registered shares of the Company with a notional interest in the share capital of EUR 1.00 per share and a right to dividends from the year of the share issue. The initial conversion price per share is EUR 5.00. The initial conversion ratio is 1 : 1.

The bondholders are obliged to convert their bonds at the maturity date of the convertible bond unless the Company waives such mandatory conversion at maturity. Furthermore, the Company is entitled to convert the convertible bonds into shares at any time if a mandatory conversion trigger price defined in the bond terms and conditions has been met.

The shareholders are granted the preemptive right to the convertible bonds as an indirect subscription right via Lang & Schwarz Broker GmbH, Düsseldorf.

The subscription price will be published in the Federal Gazette (Bundesanzeiger) and via an electronic publication no later than three days before the end of the subscription period. The subscription price will be based on the stock exchange price of the Company's shares (ISIN: DE0006046113) at the time the subscription price is determined and will not exceed 100% of the nominal value of the convertible bonds of EUR 5.00 each. The subscription price will be established based on the ratio of the stock exchange price of the shares of the Company to the nominal value of the convertible bonds as a percentage of the nominal value of the convertible bonds, whereby a discount of up to 10 % may be applied to the percentage determined by this method. §§ Sections 199 (2) and 9 (1) AktG remain unaffected.

For further details, please refer to the Subscription Offer, which will be published in the Federal Gazette soon.

The Company intends to use the expected net proceeds of approximately EUR 15 million to fund clinical studies for label expansion of Ameluz®, to further finance sales and marketing efforts of Ameluz® in the USA and for working capital and general corporate purposes.

The Executive Board

Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen

ISIN: DE0006046113

WKN: 604611

Contact: Biofrontera AG

Tel.: +49 (0214) 87 63 2 0, Fax.: +49 (0214) 87 63 290

E-mail:

EN
26/02/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Biofrontera

Biofrontera AG: 1 director

A director at Biofrontera AG bought 40,000 shares at 1.276EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly...

 PRESS RELEASE

Biofrontera AG decides to delist ADS from Nasdaq to reduce complexity ...

Biofrontera AG decides to delist ADS from Nasdaq to reduce complexity and costs Leverkusen, Germany, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Biofrontera AG (the “Company”) (Nasdaq: BFRA; Frankfurt Stock Exchange: B8F), an international biopharmaceutical company, decided today its American Depositary Shares (“ADS”) should be delisted from the Nasdaq Capital Market (“Nasdaq”) and its reporting obligations with the Securities and Exchange Commission (“SEC”) should be deregistered and terminated. The main purpose of the delisting is to reduce complexity in financial reporting and administrative cos...

 PRESS RELEASE

Biofrontera AG announces mediation results

Biofrontera AG announces mediation results Leverkusen, Germany, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (ISIN: DE0006046113) has been in mediation proceedings with Mr. Wilhelm K. T. Zours and Deutsche Balaton AG for a year in order to find a solution for the settlement of legal disputes and other differences (see ad hoc announcement of September 11, 2020). Mr. Zours is an indirect major shareholder of Biofrontera AG, holding the shares in Biofrontera AG through various companies (hereinafter "Deutsche Balaton Group"). Another major sh...

 PRESS RELEASE

Biofrontera reports financial results for the third quarter and nine m...

Biofrontera reports financial results for the third quarter and nine months ended September 30, 2021 Leverkusen, Germany, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company”), an international biopharmaceutical company, today reported its financial results for the nine months ended September 30, 2021. Key financial figures and business performance for the nine months ended September 30, 2021 In EUR thousands9M 20219M 2020ChangeQ3 2021Q3 2020ChangeRevenue18,473 20,829 (11)%5,379 4,713 14%thereof from product sales18,473 14,337 2...

 PRESS RELEASE

Biofrontera AG announces initiation of clinical studies

Biofrontera AG announces initiation of clinical studies Leverkusen, Germany, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company”), an international biopharmaceutical company, announces that two clinical studies for its prescription drug Ameluz® in the United States are being started with site initiations currently in progress, seven sites for the phase two study for the treatment of moderate- to- severe acne in adults as well as eight sites for the phase I safety study evaluating the safety of photodynamic therapy (PDT) with the si...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch