Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 97

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 October 22, 2024, the 2023 Plan Amendment was approved by the affirmative vote of a majority
of the outstanding shares of Common Stock present in person, by remote communication, if applicable, or represented by proxy at
the Annual Meeting. On April 16, 2025, pursuant to a written consent of the majority of shareholders of the Company, the number
of shares authorized for issuance under the 2023 Plan was increased to 2,400,000 shares. The Company’s board of directors
approved the increase to the 2023 Plan on June 26, 2025.

Stock
Recission Agreement

On
February 10, 2024, the Company entered into a Stock Rescission Agreement with certain affiliates of A.G.P. (the “Stock Recission
Agreement”) pursuant to which the Company rescinded 11,113 shares of Common Stock held by such affiliates of A.G.P.
and agreed to refund an aggregate of $91,512 paid by such affiliates of A.G.P. in consideration therefor within 30 days of
the effective date of the Stock Rescission Agreement. At June 30, 2025 and December 31, 2024, all such amounts have been paid
pursuant to the Representative Affiliate Transactions and there are no remaining obligations thereto.

Equity
Issuances

On
June 12, 2024, the Company entered into a 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