Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 776

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 776
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 the best interests of the Company and its stockholders (the “ Company Stockholders ”) to file one or more registration statements (collectively, the “ Registration Statements ”) with the U.S. Securities and Exchange Commission (the “ SEC ”) to register for resale the maximum number of shares of Company Common Stock issuable upon conversion of the Series A Preferred Shares to be paid by the Company in the Merger pursuant to the Merger Agreement and issuable to the Investors pursuant to the Securities Purchase Agreement (together, the “ Share Issuances ”);

WHEREAS , the Board has declared it advisable and in the best interests of the Company and the Company Stockholders to ratify the approval of the terms of the Series A Preferred Shares to be paid by the Company in the Merger pursuant to the Merger Agreement and issuable pursuant to the Securities Purchase Agreement and to authorize and approve the filing of the Certificate of Designations of Rights and Preferences of the Series A Preferred Shares, substantially in the form attached hereto as Exhibit D (the “ Series A Certificate of Designations ”), with the Secretary of State of the State of Nevada;

WHEREAS , the Consenting Stockholders, upon the recommendation of the Board, deem it advisable and in the best interests of the Company and the Company Stockholders to file with the Secretary of State of the State of Nevada, the Series A Certificate of Designations, for the sole purpose of establishing the terms of the Series A Preferred Shares as in effect immediately prior to the Merger;

WHEREAS , as a condition to closing the Merger, concurrently with the execution and delivery of the Merger Agreement, the Board deems it advisable and in the best interests of the Company that (i) the Company and Ligand enter into (a) the Ligand Legacy Product Royalty Agreement, (b) the Nomis Bay Legacy Product Royalty Agreement, and (ii) the Company and those other persons signatory thereto enter into the Management Legacy Product Royalty Agreement (collectively, the “ Royalty Agreements ”);

WHEREAS , the Consenting Stockholders, upon the recommendation of the Board, deem it advisable and in the best interests of the Company and the Company Stockholders to amend and restate the Channel Therapeutics

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TABLE OF CONTENTS

Corporation 2023 Equity Incentive Plan, as amended (the “ 2023 Plan”) substantially in the form attached hereto as Exhibit E(the “ Amended and Rest