Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 265

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 265
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 for representations and warranties that speak as of a specific date, which shall be true and correct as of such specific date) and LNHC shall have performed, satisfied and complied in all respects with the covenants, agreements and conditions required to be performed, satisfied or complied with by LNHC at or prior to the closing of the PIPE Financing;

| (r) | The PIPE Investor shall have received a certificate, duly executed by the Chief Executive Officer of LNHC, dated as of the closing of the Transactions, to the foregoing effect and as to such other matters as may be reasonably requested by the PIPE Investor in the form acceptable to such PIPE Investor; |

| (s) | The PIPE Investor shall have received a letter on the letterhead of Channel, duly executed by the Chief Executive Officer of Channel, setting forth the wire amounts of each PIPE Investor and the wire transfer instructions of Channel; |

| (t) | Channel shall have delivered to the PIPE Investors the written consent of the requisite shareholders of Channel providing for the approval of the issuance of all of the securities contemplated by the Purchase Agreement, in compliance with the rules and regulations of The NYSE American; |

| (u) | Channel shall have received at closing of the PIPE Financing at least $50,100,000 (in cash or cancellation of bridge notes, as applicable) from the PIPE Investors that have executed the Purchase Agreement (and/or a joinder to this Agreement); and |

| (v) | Channel and its subsidiaries shall have delivered to the PIPE Investors such other documents, instruments or certificates relating to the transactions contemplated by the Purchase Agreement as such PIPE Investor or its counsel may reasonably request. |

Channel’s obligation to sell shares of Channel Series A Preferred Stock to each PIPE Investor pursuant to the Purchase Agreement is subject to the satisfaction or waiver of certain conditions, provided that these conditions are for Channel’s sole benefit and may be waived by Channel at any time in its sole discretion by providing each PIPE Investor with prior written notice thereof, including:

| (a) | the PIPE Investors shall have executed each of the other transaction documents to which it is a party and delivered the same to Channel; |

| (b) | the PIPE Investors shall have delivered to Channel the Purchase Price (less, in the case of any PIPE Investor, the amounts withheld pursuant to the Purchase Agreement and/or the cancellation of bridge notes) for the Channel Series A Preferred Stock being purchased by such PIPE Investor at the closing of the Transactions by wire transfer of immediately available funds in accordance with the flow of funds letter;