Biofrontera AG Biofrontera AG announces results of share placement
Public disclosure of inside information according to article 17 MAR
Leverkusen, Germany (pta002/14.02.2018/00:15) - The Management Board of Biofrontera Aktiengesellschaft ("Company"), Leverkusen, decided on January 29, 2018, with the approval of the Supervisory
Board, to increase the company's share capital by up to EUR 6,000.00.000 by issuing up to 6,000,000 new registered no-par value shares with a pro rata amount of the share
capital of EUR 1.00 each ("New Shares") by way of a capital increase against cash contributions. The shareholders were granted the statutory subscription right excluding fractions. The New Shares
also served as a basis for the creation of American Depositary Shares ("ADSs") to be publicly offered in the USA. One ADS each securitizes two ordinary shares of the Company. ADSs were offered to
investors in the USA subject to shareholders' subscription rights for the New Shares. The subscription price for the New Shares was set at EUR 4.00 per New Share on
February 9, 2018.
Based on today's evaluation, the New Shares could be fully placed. Altogether 1,215,000 ADS were placed.
It is expected that the ADSs will be listed on the NASDAQ Capital Market as of 14 February 2018. All common shares of Biofrontera will be freely tradeable on both, the German stock markets and, as ADS, on the NASDAQ Capital Market.
The issuance of a number of 170,966 New Shares to underlay a corresponding number of ADSs, however, is subject to the condition that the US banks accompanying the transaction call them within an agreed overallotment option in lieu of purchasing a corresponding number of ADS on NASDAQ in case the of stock market prices in the US is below the subscription price.
emitter: Biofrontera AG
address: Hemmelrather Weg 201, 51377 Leverkusen
contact person: Investor & public relations
phone: +49 (0) 214 87 63 20
ISIN(s): DE0006046113 (share)
stock exchanges: regulated market in Frankfurt, Dusseldorf; free market in Stuttgart, free market in Munich; open market in Berlin, Tradegate