On August 10, 2020 The Executive Board of Biofrontera AG (shares of Biofrontera AG ISIN: DE0006046113) reported that has decided on 27 July 2020, with the approval of the Supervisory Board, to issue a 1.00 % qualified subordinated mandatory convertible bond 2020/2021 (ISIN: DE000A3E4548 / WKN: A3E454). It is divided into up to 2,638,150 qualified subordinated mandatory convertible bearer bonds ("Bonds") with a nominal value of EUR 3.00 each and a total nominal value of up to EUR 7,914,450 (Press release, Biofrontera, AUG 10, 2020, View Source [SID1234568548]). The shareholders or holders of subscription rights were invited by an announcement in the Federal Gazette (Bundesanzeiger) of 29 July 2020 to exercise their subscription rights to the Bonds during normal business hours in the period from 30 July 2020 up to 13 August 2020 (included) to avoid exclusion. It was also provided that the subscription price would be published in the Federal Gazette (Bundesanzeiger) and via an electronic information medium no later than three days before the end of the subscription period.

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The subscription price for each of the Bonds was set at

100 % of their nominal value of EUR 3,00.

Thus, the cash payment for each bond subscribed is EUR 3.00.