Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 213

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 213
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 $77.3 million. Miscellaneous The preparation of a fairness opinion is a complex process and is not necessarily susceptible to a partial analysis or summary description. In arriving at the Fairness Opinion, M&N Sarchet considered the results of all its analyses as a whole with weightings for each of the valuation models employed by M&N Sarchet, based on its expertise and discussions with Channel management, as set forth in the Statement of Assumptions and Limited Conditions to the Fairness Opinion attached thereto. M&N Sarchet believes that the summary provided and the analyses described above must be considered as a whole and that selecting portions of these analyses, without considering all of them, would create an incomplete view of the process underlying M&N Sarchet’s analyses and the Fairness Opinion; therefore, the determinations resulting from any particular analysis described above should not be taken to be M&N Sarchet’s view of the fairness of the Merger Partner Valuation. Channel paid M&N Sarchet a fee, which is referred to in this information as the opinion fee, of $40,000 for providing the Fairness Opinion to the Special Committee and the Channel board of directors (not contingent upon the consummation of the Merger). In addition, Channel agreed to reimburse M&N Sarchet for certain expenses in connection with its engagement, subject to certain limitations, and to indemnify M&N Sarchet for certain liabilities arising out of its engagement. There are no material relationships that existed during the two years prior to the date of the Fairness Opinion or that as of such date were mutually understood to be contemplated in which any compensation was received or is intended to be received as a result of the relationship between M&N Sarchet and Channel or LNHC. Certain Unaudited Financial Projections of LNHC Neither Channel nor LNHC, as a matter of course, makes public long-term projections or internal projections as to future performance, revenues, earnings or other financial or operating results due to, among other reasons, the uncertainty of the underlying assumptions and estimates. However, in connection with the evaluation of the Merger, certain unaudited internal financial Projections relating to the business, operations, earnings, cash flow, assets, liabilities and prospects of LNHC, or the “LNHC Projections”, were prepared by management of LNHC. The LNHC Projections were provided to and considered by the Special Committee and the Channel board of directors in connection with its evaluation of the Merger