Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 21

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 twelve-month agreement with a vendor to issue up to 750 shares of Common Stock
per month for services performed by such vendor. As of June 30, 2025 and December 31, 2024, the Company has issued 8,201 and
5,119 shares of Common Stock pursuant to this agreement, of which 1,389 and 3,081 shares were issued during the three and six
months ended June 30, 2025. As of June 30, 2024, the Company has issued 646 shares of Common Stock pursuant to this agreement,
of which 646 shares were issued during the three and six months ended June 30, 2024.

Committed
Equity Financing

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”), providing for a committed equity financing facility, pursuant
to which, upon the terms and subject to the satisfaction of the conditions contained in the CEF Purchase Agreement, Tikkun has
committed to purchase, at the Company’s direction in its sole discretion, up to an aggregate of $30,000,000 (the “Total
Commitment”) of the shares of Common Stock (the “Purchase Shares”), subject to certain limitations set forth
in the CEF Purchase Agreement, from time to time during the term of the CEF Purchase Agreement. Concurrently with the execution
of the CEF Purchase Agreement, the Company and Tikkun also entered into a Registration Rights Agreement, dated as of July 26,
2024, pursuant to which the Company agreed to file with the SEC one or more registration statements, to register under the Securities
Act, the offer and resale by Tikkun of all of the Purchase Shares that may be issued and sold by the Company to Tikkun from time
to time under the CEF Purchase Agreement. On October 2, 2024, the Company tendered 7,632 shares to Tikkun for $45,638 and on October
18, 2024, the Company tendered 7,965 shares to Tikkun for $62,890.

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Stock
Repurchase Plan

On
August 5, 2024, the Board authorized a stock repurchase plan (the “Repurchase Plan”) pursuant to which up to $250