Biofrontera Inc. Closes a $4.2 Million Senior Secured Convertible Note
Biofrontera Inc. (BFRI)
Company Research
Source: GlobeNewswire
WOBURN, Mass., Nov. 22, 2024 (GLOBE NEWSWIRE) -- Biofrontera Inc. (Nasdaq: BFRI) (“Biofrontera” or the “Company”), a biopharmaceutical company specializing in the development and commercialization of photodynamic therapy (PDT), today announced the completion of a private placement of a $4.2 million senior secured convertible note (the “Note”) with its principal shareholders. The Note matures on November 22, 2027, bears a paid in kind interest of 10% per annum and is secured by the Company’s assets. The principal amount of the Note in whole or in part is convertible into common shares at the holder’s discretion at a fixed conversion price of $0.78. Alternatively, the entire amount of the note will be automatically converted to common shares if the 10-day volume weighted average price (VWAP) of Company shares on Nasdaq is greater than $2.50, and certain other conditions are met. The Notes contain customary restrictive covenants that, among other things, generally limit the ability of
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BFRI
News
- Biofrontera Inc. Closes a $4.2 Million Senior Secured Convertible Note [Yahoo! Finance]Yahoo! Finance
- Biofrontera Inc. (NASDAQ: BFRI) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $7.00 price target on the stock.MarketBeat
- Biofrontera Inc (BFRI) Q3 2024 Earnings Call Highlights: Strategic Advancements Amidst Revenue ... [Yahoo! Finance]Yahoo! Finance
- Biofrontera Inc. Reports Third Quarter and Nine-Month 2024 Financial Results and Provides Business Update [Yahoo! Finance]Yahoo! Finance
- Biofrontera Inc. Reports Third Quarter and Nine-Month 2024 Financial Results and Provides Business UpdateGlobeNewswire
BFRI
Earnings
- 11/13/24 - Miss
BFRI
Sec Filings
- 11/22/24 - Form 8-K
- 11/14/24 - Form SC
- 11/14/24 - Form SC
- BFRI's page on the SEC website