Result of the subscription of the 1.00 % qualified subordinated mandatory convertible bond 2020/2021

Rhea-AI Summary

Biofrontera AG announced the successful placement of its 1.00% qualified subordinated mandatory convertible bonds. These bonds, issued at a nominal value of EUR 3.00 each, were offered to shareholders with a subscription period ending on August 13, 2020. A total of 2,638,150 bonds were made available, ensuring that all have been successfully placed, excluding demand from ongoing private placements. The company has highlighted potential risks related to forward-looking statements regarding the offering and its intended use of proceeds.

Positive

• All 2,638,150 bonds have been successfully placed, indicating strong demand.

Negative

• The offering is accompanied by forward-looking statements that carry risks and uncertainties.

Leverkusen, Germany, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Biofrontera AG (shares of Biofrontera AG ISIN: DE0006046113) announced on July 27, 2020 the issuance of the 1.00% qualified subordinated mandatory convertible bond 2020/2021 with pre-emptive subscription rights for shareholders. 2,638,150 qualified subordinated mandatory convertible bearer bonds ("Bonds") with a nominal value of EUR 3.00 each (ISIN: DE000A3E4548 / WKN: A3E454) were offered for subscription at a subscription or placement price of 100% of their nominal value, corresponding to EUR 3.00 each in cash. The subscription period ends on August 13, 2020.

According to the current evaluation, all Bonds have been successfully placed - not considering the demand during the ongoing private placement.

Forward Looking Statements:

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the Registration Statement on Form F-1 filed with the SEC, including in the section "Risk Factors," and in future reports filed with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.

Biofrontera AG

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

E-mail: ir@biofrontera.com

FAQ

What is the significance of Biofrontera AG's bond issuance on July 27, 2020?

Biofrontera AG issued a 1.00% qualified subordinated mandatory convertible bond to raise funds, successfully placing all 2,638,150 bonds offered.

What are the details of Biofrontera AG's convertible bonds?

The bonds have a nominal value of EUR 3.00 each and were offered at a subscription price of 100% of their nominal value.

When did the subscription period for Biofrontera AG's bonds end?

The subscription period for the bonds ended on August 13, 2020.

What risks are associated with Biofrontera AG's forward-looking statements?

The risks include known and unknown uncertainties that may affect the company's financial performance and results.