Biofrontera Announces Achievement of Two Milestones Associated with Series B-3 Convertible Preferred Stock Warrants [Yahoo! Finance]
Biofrontera Inc. (BFRI)
Company Research
Source: Yahoo! Finance
of dermatological products, today announced that the Board of Directors has met and certified that two criteria described in warrants to purchase Series B-3 Convertible Preferred Stock issued by the Company on February 22, 2024 (the "Warrants") have been fulfilled by the Company. The Warrants were issued pursuant to a private placement of securities in February 2024, and the exercise of the Warrants will trigger payments totaling $8 million (gross) to the Company. The principal milestone that had to be achieved relating to the Warrants was an increase in revenue, excluding revenue from related parties, of at least 5% from January 1 to April 30, 2024 vs. the same time period in 2023. The Board certified that by the end of April 2024, the Company had achieved greater than 5% year-over-year growth and thus fulfilled this criterion. The second milestone was that the Company successfully implemented a new customer relationship management system with more than 95% adoption over the pa
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BFRI
News
- Biofrontera Inc. Reports First Quarter 2024 Financial Results and Provides a Business Update [Yahoo! Finance]Yahoo! Finance
- Biofrontera Inc. Reports First Quarter 2024 Financial Results and Provides a Business UpdateAccesswire
- Biofrontera Inc. to Report First Quarter 2024 Financial Results on May 15, 2024Accesswire
- Biofrontera Announces Achievement of Two Milestones Associated with Series B-3 Convertible Preferred Stock WarrantsAccesswire
- Biofrontera Inc. Announces 2024 Annual Meeting of Stockholders and Deadlines for Submission of Stockholder Proposals [Yahoo! Finance]Yahoo! Finance
BFRI
Earnings
- 5/15/24 - Miss
BFRI
Sec Filings
- 5/15/24 - Form 8-K
- 5/15/24 - Form 10-Q
- 5/10/24 - Form EFFECT
- BFRI's page on the SEC website