Biofrontera, which sells treatments for skin conditions caused by sun damage, announced terms for its IPO on Friday.
The Leverkusen, Germany-based company plans to raise $29 million by offering 3 million ADSs at a price range of $8.80 to $10.80. At the midpoint of the proposed range, Biofrontera would command a market value of $218 million.
Biofrontera was founded in 1997 and booked $12 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol BFRA. The Benchmark Company is the sole bookrunner on the deal. No timing on pricing was disclosed.
