BFRI - What's Going On With Biofrontera Stock? | Benzinga
Biofrontera Inc. (NASDAQ:BFRI) shares are trading higher Tuesday after the company announced it has secured financing of $8 million with an additional $8 million second tranche tied to milestones for aggregate proceeds of $16 million.
The Details:
Biofrontera announced it has entered into a securities purchase agreement with healthcare-focused institutional investors led by Rosalind Advisors. Pursuant to the securities purchase agreements, the company will issue to the purchasers an aggregate $8 million in shares of the company’s Series B-1 Convertible Preferred Stock and warrants to purchase shares of the company’s Series B-3 Convertible Preferred Stock with an aggregate exercise price of $8 million.
The company also announced the restructuring of agreements between Biofrontera and its former parent company, Biofrontera AG, ...