Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 238

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 238
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 its terms; |

| • | except as required to give effect to anything in contemplation of the closing of the Merger, amend its certificate of incorporation, bylaws or other comparable charter or organizational documents or effect or be a party to any merger, consolidation, share exchange, business combination, liquidation, dissolution, reorganization, statutory conversion, recapitalization, reclassification of shares, stock split or reverse stock split or form any new subsidiary or acquire any equity interest or other interest in any other person; |

| • | acquire (i) by merging or consolidating with, or by purchasing all or a substantial portion of the assets or any stock of, or by any other manner, any business or any corporation, partnership, joint venture, limited liability company, association or other business organization or division thereof or (ii) any assets that are material, individually or in the aggregate, to Channel and its subsidiaries, taken as a whole; |

| • | sell, lease, license, pledge, or otherwise dispose of or encumber any properties or assets material to Channel or any of its subsidiaries; |

| • | subject to certain exceptions, enter into any material transaction other than in the ordinary course of business; |

| • | license any material intellectual property rights to or from any third party; |

| • | (i) incur or suffer to exist any indebtedness for borrowed money or guarantee any such indebtedness of another person in excess of $100,000 in the aggregate, (ii) issue, sell or amend any debt securities or warrants or other rights to acquire any debt securities of Channel or any of its subsidiaries, guarantee any debt securities of another person, enter into any “keep well” or other agreement to maintain any financial statement condition of another person or enter into any arrangement having the economic effect of any of the foregoing, (iii) make any loans, advances (other than routine advances to employees of Channel in the ordinary course of business) or capital contributions to, or investment in, any other person, other than |

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Channel or any of its direct or indirect wholly owned subsidiaries or (iv) enter into any hedging agreement or other financial agreement or arrangement designed to protect Channel or its subsidiaries against fluctuations in commodities prices or exchange rates;

| • | create or otherwise incur any encumbrance on any material asset of Channel or its subsidiaries, subject to certain exceptions; |

| • | incur, pay or otherwise agree to bear any transaction expenses in excess of $3,000,000