Company: PTHS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001753926-25-000790
Chunk: 88

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 88
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,
(C) principal in the amount of $389,757, along with accrued interest of approximately $28,336 as of February 21, 2024, outstanding
under our senior secured convertible notes issued in the April Bridge Financing (after giving effect to the Representative Affiliate
Transactions), automatically converted into approximately 87,109 shares of Common Stock, (D) principal in the amount of $197,421,
along with accrued interest of $8,169 as of February 21, 2024, outstanding under our senior secured convertible notes issued in
the September Bridge Financing (after giving effect to the Representative Affiliate Transactions), automatically converted into
approximately 43,385 shares of Common Stock, which includes an additional 549 Bonus Shares issuable as consideration for the September
Bridge Financing, (E) we issued 37,500 shares of Common Stock to an investor as consideration for its previous agreement to provide
funding that is no longer necessary in connection with the IPO, (F) we effected the Representative Affiliate Transactions, (G)
we effected the transactions contemplated by the Holdings Side Letter, and issued an aggregate of 2,600 shares of Series C Preferred
Stock to Chromocell Holdings pursuant thereto, and (H) we issued (i) 93,823 shares to a lender holding the Investor Note and (ii)
29,167 shares to one of our directors holding the Director Note in full satisfaction of our obligations thereunder (in the case
of (A) through (D) and (H) above, based on the IPO price of $6.00 per IPO Share).

33

In
addition, certain Selling Stockholders, as identified in the Registration Statement, have agreed to offer for resale of up to
an aggregate of 2,969,823 Selling Stockholder Shares to the public. After conversion of the convertible notes or shares of preferred
stock, as applicable, the Selling Stockholders, or their respective transferees, pledgees, donees or other successors-in-interest,
may sell the Selling Stockholders Shares through public or private transactions at prevailing market prices, at prices related
to prevailing market prices or at privately negotiated prices. We will not receive any proceeds from the sale of the Stockholder
Shares by the Selling Stockholders.

On
July 26, 2024, the Company entered into a Common Stock Purchase Agreement, dated as of July 26, 2024 (the “CEF Purchase
Agreement”), with Tikkun Capital LLC (“Tikkun