Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1284

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 1284
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 Eastern Standard Time on November 22, 2023, the record date for the Rights Offering (the “Rights Offering Record
Date”). The Subscription Rights could be exercised at any time during the subscription period, which commenced on November
22, 2023 and expired at 5:00 p.m., Eastern Standard Time, on December 1, 2023. Each Subscription Right entitled the eligible holder
to purchase up to three shares of the Company’s Common Stock at a price per whole share of Common Stock of $0.1008 (the
“Subscription Price”). Holders who fully exercised their rights could also subscribe for additional shares of Common
Stock not subscribed for by other holders on a pro rata basis. In addition, the Company could distribute to one or more additional
persons, at no charge to such person, additional non-transferable subscription rights to purchase shares of its Common Stock in
the Rights Offering at the same Subscription Price, without notice to the holders of its Common Stock. Upon the closing of the
Rights Offering, the Company issued an aggregate of 2,533,853 shares of Common Stock and received aggregate net proceeds
of $255,412, after giving effect to the Representative Affiliate Transactions (as defined below), which it intended to use primarily
for general corporate purposes and expenses associated with the IPO.

Recission
Agreement

On
February 10, 2024, the Company entered into a Stock Rescission Agreement with certain affiliates of A.G.P. pursuant to which the
Company rescinded 111,129 shares of Common Stock held by such affiliates of A.G.P. and agreed to refund an aggregate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 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 issued 50,000 shares of Common Stock to a vendor in considerations for the services provided
by the vendor to the Company.

On
June 12, 2024, the Company entered into a twelve-month agreement with a vendor to issue up to 7,500 share of Common
Stock per month for services performed by such vendor. As of December 31, 2024, the Company has issued 51