Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 27

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 27
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 entitled “ Where You Can Find Additional Information ” beginning on page 277 .

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TABLE OF CONTENTS

QUESTIONS AND ANSWERS ABOUT THE TRANSACTIONS The following questions and answers are intended to briefly address commonly asked questions as they pertain to the Transaction Agreements and the Transactions. These questions and answers may not address all questions that may be important to you as a holder of shares of Channel common stock. Please refer to the section entitled “Summary” beginning on page 1and the more detailed information contained elsewhere in this information statement, the annexes to this information statement and the documents referred to or incorporated by reference in this information statement, each of which you should read carefully. You may obtain additional information, which is incorporated by reference in this information statement, without charge by following the instructions in the section entitled “Where You Can Find More Information” beginning on page 277.

| Q. | Why am I being sent this information statement? |

| Q. | What is the Merger? |

Immediately prior to the Effective Time, each share of LNHC capital stock will be converted into the right to receive a number of shares of Channel Series A Preferred Stock equal to the exchange ratio described in more detail in the section titled “ The Merger-Exchange Ratio” beginning on page 125of the accompanying information statement. The exchange ratio represents the number of shares of Channel common stock issuable upon conversion of the Channel Series A Preferred Stock that will be received for each LNHC share outstanding in the Merger and is based on a stipulated value for Channel of $15 million (excluding the PIPE Financing) and for LNHC of $67 million. Based on Channel’s and LNHC’s capitalization as of May 2, 2025, Ligand is expected to receive an aggregate of approximately 31,599.44 shares of Channel Series A Preferred Stock in the Merger. This amount is an estimate only and the final number of shares Ligand will receive at closing will be determined pursuant to a formula described in more detail in the Merger Agreement. Each share of Channel common stock, option to purchase Channel common stock and Channel restricted stock unit award that is issued and outstanding immediately prior to the Effective Time will remain issued and outstanding and such shares, options and awards will be unaffected by the Merger. The PIPE Investors have agreed to subscribe for and purchase an aggregate of approximately 50,100 of shares of Channel Series A Preferred Stock, at a price per share equal to the Purchase Price, subject