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Biofrontera Inc. Announces $4.5 Million Registered Direct Offering Priced At-the-market Under NASDAQ Rules
WOBURN, MA / ACCESSWIRE / October 31, 2023 / Biofrontera Inc. (NASDAQ:BFRI) ("Biofrontera" or the "Company"), a biopharmaceutical company specializing in the
About this update from Biofrontera Inc.
[{"type":"text","content":"WOBURN, MA / ACCESSWIRE / October 31, 2023 / Biofrontera Inc. (NASDAQ:BFRI) (\"Biofrontera\" or the \"Company\"), a biopharmaceutical company specializing in the commercialization of dermatologic products, entered into a securities purchase agreement with a certain institutional investor, pursuant to which the Company agreed to issue and sell to the investor an aggregate of 1,205,000 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase an aggregate of up to 1,807,000 shares of Common Stock, at an exercise price of $3.55 per share of Common Stock. The warrants are exercisable immediately upon issuance and will expire five years following the date of issuance. The Company also agreed to adjust the strike price of 385,236 outstanding warrants held by the investor to $3.55. The offering is expected to close on or about November 2, 2023, subject to customary closing conditions.Roth Capital Partners is acting as the exclusive placement agent for the offering.The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.The securities described above are being offered pursuant to the Company's registration statement on Form S-1 originally filed with the Securities and Exchange Commission (\"SEC\"). The public offering is being made only by means of a prospectus, which is part of the effective registration statement. When available, electronic copies of the final prospectus may be obtained for free on the SEC's website located at http://www.sec.gov and may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660, or by phone at (800) 678-9147 or e-mail at [email protected] press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.About Biofrontera Inc.Biofrontera Inc. is a U.S.-based biopharmaceutical company commercializing a portfolio of products for the treatment of dermatologic conditions with a focus on photodynamic therapy (PDT) and topical antibiotics. The Company...