Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 353

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 353
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336 as of February 21, 2024, outstanding under Channel’s senior secured convertible notes issued in the April Bridge Financing (after giving effect to the Representative Affiliate Transactions), automatically converted into approximately 87,109 shares of Channel common stock, (D) principal in the amount of $197,421, along with accrued interest of $8,169 as of February 21, 2024, outstanding under Channel’s senior secured convertible notes issued in the September Bridge Financing (after giving effect to the Representative Affiliate Transactions), automatically converted into approximately 43,385 shares of Channel common stock, which includes an additional 549 Bonus Shares issuable as consideration for the September Bridge Financing, (E) Channel issued 37,500 shares of Channel common stock to an investor as consideration for its previous agreement to provide funding that is no longer necessary in connection with the IPO, (F) Channel effected the Representative Affiliate Transactions, (G) Channel effected the transactions contemplated by the Holdings Side Letter, and issued an

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aggregate of 2,600 shares of Series C Preferred Stock to Chromocell Holdings pursuant thereto, and (H) Channel issued (i) 93,823 shares to a lender holding the Investor Note and (ii) 29,167 shares to one of Channel’s directors holding the Director Note in full satisfaction of Channel’s obligations thereunder (in the case of (A) through (D) and (H) above, based on the IPO price of $6.00 per IPO Share).

In addition, certain Selling Stockholders, as identified in the Registration Statement, have agreed to offer for resale of up to an aggregate of 2,969,823 Selling Stockholder Shares to the public. After conversion of the convertible notes or shares of preferred stock, as applicable, the Selling Stockholders, or their respective transferees, pledgees, donees or other successors-in-interest, may sell the Selling Stockholders Shares through public or private transactions at prevailing market prices, at prices related to prevailing market prices or at privately negotiated prices. Channel will not receive any proceeds from the sale of the Stockholder Shares by the Selling Stockholders.

On July 26, 2024, Channel 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