Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 598

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 598
---
 order, executive order, stay, decree, judgment or injunction (preliminary or permanent) or statute, rule or regulation which is in effect and which has the effect of making the Merger illegal or otherwise prohibiting consummation of the Merger, (ii) the approval of the listing of the additional shares of common stock issuable upon conversion of the Series A Preferred Stock on the NYSE American having been obtained and the shares of common stock issuable upon conversion of the Series A Preferred Stock to be issued in the Merger pursuant to the Merger Agreement having been approved for listing, subject to official notice of issuance, on the NYSE American; (iii) entry into certain royalty agreements, (iv) the PIPE Financing (as defined in the Merger Agreement) having been consummated or being consummated concurrently with the closing of the Merger or immediately before the closing of the Merger, (v) 20 calendar days shall have elapsed following the commencement of mailing of an information statement on Schedule 14C to Channel’s shareholders; and (vi) other customary conditions.

Management is currently assessing the accounting for the above transactions and their impact on the Company's financial statements for the respective periods.

<div align='center'>F-91</div>

#### TABLE OF CONTENTS

#### Annex A

### AGREEMENT AND PLAN OF MERGER

#### by and among

#### CHANNEL THERAPEUTICS CORPORATION,

#### CHRO MERGER SUB INC.,

#### LNHC, INC.,

#### and solely for purposes of Article III,

### LIGAND PHARMACEUTICALS INCORPORATED

#### Dated as of April 16, 2025
TABLE OF CONTENTS

TABLE OF CONTENTS

|                                                                                |     |                                                           |     | Page |
| ARTICLE I THE MERGER                                                           |     |                                                           |     | A-2  |
| 1.1                                                                            |     | Effective Time of the Merger                              |     | A-2  |
| 1.2                                                                            |     | Closing                                                   |     | A-2  |
| 1.3                                                                            |     | Effects of the Merger                                     |     | A-2  |
| 1.4                                                                            |     | Directors and Officers of the Surviving Corporation       |     | A-2  |
| 1.5                                                                            |     | Public Company Matters                                    |     | A-2  |
| ARTICLE II CONVERSION OF SECURITIES                                            |     |                                                           |     |