Biofrontera gets new money

Biofrontera plans to issue a mandatory convertible bond. The qualified subordinated paper is to run until December 20, 2021. The annual interest rate is 1.0 percent. The statutory subscription right applies.

The mandatory convertible bond consists of almost 2.64 million bonds with a nominal value of EUR 3.00 each. There is an obligation to convert the bonds at the end of the term if a trigger price defined in the conditions has been reached.

The subscription price is not yet clear. The exact reference period has not yet been determined. On July 29, the exact subscription offer will probably be published in the Federal Gazette.

Biofrontera intends to use the fresh money to finance the clinical study on Ameluz. It is also intended to finance Ameluz’s sales and marketing in the United States.
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