Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 929

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 929
---
 of Common Stock to a vendor in considerations for
the services provided by the vendor to the Company.

67 

Between September 1, 2024 and December
31, 2024, we issued and sold an aggregate of 155,953 shares of Common Stock to Tikkun pursuant to the CEF Purchase Agreement at
an average price per share of $0.70, resulting in aggregate gross proceeds to the Company of $108,552. 

The
offers and sales of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon
Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated under Section 3(b) of the
Securities Act, as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating
to compensation as provided under Rule 701. The recipients of the above securities represented their intentions to acquire the
securities for investment only and not with a view to or for sale in connection with any distribution thereof.

Purchases
of Equity Securities by the Issuer and Affiliated Purchasers

Stock
Repurchase Plan

On
August 5, 2024, the board of directors authorized a stock repurchase plan (the “Repurchase Plan”) pursuant to which
up to $250,000 of the Company’s Common Stock may be repurchased prior to December 31, 2024, unless completed sooner
or otherwise extended. During the year ended December 31, 2024, the Company repurchased 86,196 shares of Common Stock.
Open market purchases are intended to be conducted in accordance with applicable Securities and Exchange Commission regulations,
including the guidelines and conditions of Rule 10b-18 and Rule 10b5-1 of the Exchange Act. We established the Repurchase Plan
on the premise that the value of the Company’s programs and prospects were not reflected in the trading price of the Company’s
Common Stock on the NYSE American and in an effort to maintain a minimum price relative to NYSE American’s listing standards.
Further, the Company endeavored to balance the repurchase of what the Company felt was undervalued stock and the Company’s
available cash, as a result of which, the timing and actual number of shares repurchased have depended and will continue to depend
on a variety of factors including trading price of the Company’s Common Stock on the NYSE American, the Company’s
financial