Biofrontera Inc. announced that it has entered into a securities purchase agreement with a single institutional investor for a private placement of 3,419,000 shares and warrants to purchase up to an aggregate of 3,419,000 shares at a price of $2.75 per share for gross proceeds of $9,402,250 on May 16, 2022. The warrants have an exercise price of $2.77 per share, will be immediately exercisable, and will expire six years, and will expire five and one-half years from the issuance date. from the issuance date.

The transaction is expected to close on or about May 17, 2022, subject to the satisfaction of customary closing conditions. The securities are being issued under Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation D promulgated thereunder.