Company: PTHS
Filing Date: 2025-08-28
Form Type: S-3
Source: 0001753926-25-001403
Chunk: 74

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-28
Form: S-3
Chunk 74
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 or more of the voting power of the outstanding voting shares of a corporation, and define combination to include any merger or consolidation with an interested stockholder, or any sale, lease, exchange, mortgage, pledge, transfer or other disposition, in one transaction or a series of transactions with an interested stockholder of assets of the corporation:

| ● | having                                                                                                        
 an aggregate market value equal to 5% or more of the aggregate market value of the assets of the corporation; |

| ● | having                                                                                                                       
 an aggregate market value equal to 5% or more of the aggregate market value of all outstanding shares of the corporation; or |

| ● | representing                                                       
 10% or more of the earning power or net income of the corporation. |

Pelthos’ articles of incorporation expressly include a provision by which the combined company elects to opt out of these provisions if and when Pelthos becomes a “resident domestic corporation” (as defined in NRS Section 78.427).

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Anti-Takeover Effects of Certain Provisions of our Charter and Bylaws

Pelthos’ articles of incorporation provide that directors may be removed by the stockholders with or without cause upon the vote of a majority of the holders of Common Stock then entitled to vote. Except as otherwise provided in Pelthos’ bylaws and articles of incorporation, any vacancies or newly created directorships on Pelthos’ board of directors resulting from any increase in the authorized number of directors elected by all of the stockholders having the right to vote as a single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining director.

Pelthos’ bylaws also provide that only our chairman of the board of directors, chief executive officer, president or one or more stockholders holding shares in the aggregate entitled to cast not less than ten percent of the votes at that meeting may call a special meeting of stockholders.

The combination of these provisions makes it more difficult for Pelthos’ existing stockholders to replace Pelthos’ board of directors as well as for another party to obtain control of us by replacing Pelthos’ board of directors. Since Pelthos’ board of directors has the power to retain and discharge Pelthos’ officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated Pelthos preferred stock makes it possible