BFRI - Biofrontera prices $15M stock offering in private placement

Biofrontera (BFRI -12.3%) entered into a securities purchase agreement with a single institutional investor for the purchase of 2.86M shares and warrants in a private placement. The combined purchase price for one share and a warrant to purchase one share is $5.25; warrants have an exercise price of $5.25/share and will be immediately exercisable, and will expire five years from issuance date. Gross proceeds are expected to be ~$15M. The private offering is expected to close on or about Dec.1.

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Biofrontera prices $15M stock offering in private placement