Biofrontera Inc. (BFRI): Nasdaq/NYSE listing notice — Biofrontera receives Nasdaq delisting notice for equity below $2.5M minimum

Biofrontera Inc.

Stockholders' equity as of Sep 30, 2023 was $1,038,000, below Nasdaq's $2.5M requirement.
Company also failed alternative compliance metrics: market value of listed securities <$35M and net income.
No immediate effect on listing; 45 days to submit a compliance plan to Nasdaq.
If plan accepted, company may have up to 180 days from Nov 22, 2023 to regain compliance.
If plan rejected, company may appeal to a Nasdaq Hearings Panel.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Biofrontera Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

November 22, 2023, Biofrontera Inc. (the “Company”) received a notice (the “Notice”) from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that, because the Company’s stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the period ended September 30, 2023 was $1,038,000, the Company is no longer in compliance with the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2,500,000. Additionally, as of the date of the Notice, the Company did not

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Biofrontera Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-043068

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