VV Beteiligungen Aktiengesellschaft - Sep 16, 2025 Form 3 Insider Report for Biofrontera Inc. (BFRI)

Role: 10%+ Owner
Signature: By: /s/ Martin Flick, attorney in fact for VV Beteiligungen Aktiengesellschaft
Stock symbol: BFRI
Transactions as of: Sep 16, 2025
Transactions value $: $0
Form type: 3
Date filed: 9/30/2025, 08:47 AM
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
VV Beteiligungen Aktiengesellschaft	10%+ Owner	ZIEGELHAUSER LANDSTRASSE 3, HEIDELBERG, GERMANY	By: /s/ Martin Flick, attorney in fact for VV Beteiligungen Aktiengesellschaft	2025-09-30	0001571058

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BFRI	Common Stock						400K	Sep 16, 2025	By Biofrontera AG	F1
holding	BFRI	Common Stock						58.9K	Sep 16, 2025	By Deutsche Balaton Aktiengesellschaft	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BFRI	Series D Convertible Preferred Stock							Sep 16, 2025	Common Stock	4.83M	$0.62	By Biofrontera AG	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported shares are held directly by Biofrontera AG. The Reporting Person and its affiliates collectively hold approximately 62.2% of the outstanding voting stock of Biofrontera AG and therefore may be deemed to beneficially own the shares owned by Biofrontera AG. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its indirect pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F2	The reported shares are held directly by Deutsche Balaton Aktiengesellschaft. The Reporting Person owns a majority interest in Deutsche Balaton Aktiengesellschaft and therefore may be deemed to beneficially own the shares owned by Deutsche Balaton Aktiengesellschaft. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its indirect pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F3	The convertible preferred stock is convertible at any time at the holder's option, subject to a limitation that prevents the holder and its affiliates from beneficially owning more than 19.99% of the outstanding common stock upon conversion. The preferred stock has no expiration date.