Company: PTHS
Filing Date: 2025-04-17
Form Type: 8-K
Source: 0001753926-25-000652
Chunk: 5

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-04-17
Form: 8-K
Item: Item 1.01
Chunk 5
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ger until December 31, 2025, subject to certain exceptions set
forth in each of the Lock-Up Agreements.

Registration Rights Agreement

At the closing of the PIPE Financing, Channel
will enter into a registration rights agreement (the “ Registration Rights Agreement”) with LNHC and the PIPE
Investors pursuant to which the PIPE Investors will be entitled to certain resale registration rights with respect to shares of
Common Stock underlying the Series A Preferred Stock issued to the PIPE Investors. Pursuant to the Registration Rights Agreement,
Channel will be required to prepare and file the Registration Statement with the Securities and Exchange Commission (the “SEC”)
within the later of the 30th calendar day after the closing date of the PIPE Financing and 15 calendar days after the due date
(which shall include any extensions granted by a timely-filed Form 12b-25) of the next periodic report required pursuant to Section
13 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act”). Channel shall use its reasonable
best efforts to cause the registration statement to be declared effective by the SEC the earlier of the (A) 120th calendar day
after the closing date of the PIPE Financing (or the 150th calendar day if subject to a full review by the SEC) and the (B) 5th
business day after the date Channel is notified (orally or in writing, whichever is earlier) by the SEC that such applicable registration
statement will not be reviewed or will not be subject to further review.

Stockholder Approval of Transaction

In connection with the Transaction, Channel
obtained the written consent of the majority of its stockholders on April 16, 2025, to, among other things, (i) adopt the Merger
Agreement and approve the Merger and the other transactions contemplated by the Merger Agreement, (ii) authorize, adopt and approve
the Certificate of Designations of Rights and Preferences (the “ Certificate of Designations”) of the Series
A Preferred Stock, (iii) approve the PIPE Financing, (iv) authorize the preparation, execution and filing of one or more registration
statements with the SEC to register for resale the maximum number of shares of Common Stock issuable upon conversion of the Series
A Preferred Stock issuable to the PIPE Investors pursuant to the Securities Purchase Agreement, (v) authorize, adopt and approve
in all respects the issuances of shares of the Series A Preferred Stock to be paid by Channel in the Merger and the