Company: DERM
Filing Date: 2025-08-28
Form Type: 424B3
Source: 0001104659-25-084876
Chunk: 35

Company: Journey Medical Corp
Filing Date: 2025-08-28
Form: 424B3
Chunk 35
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 Thus, the Class A Common Stock will be entitled to elect the majority of the board of directors
during the Class A Director Period.

Finally, each share of Class A Common Stock
is convertible, at the option of the holder, into one fully paid and nonassessable share of common stock (the “Conversion Ratio”),
subject to certain adjustments.

Features of Our Common Stock and Class A Common Stock

Voting Rights. The holders of our common stock are entitled to one vote for each share of common stock held and the holders of
our Class A Common Stock are entitled to the number of votes equal to the Class A Common Stock Ratio for each share of Class A
Common Stock held on all matters submitted to a vote of the stockholders, including the election of directors except as to the Class A
Directors during the Class A Director Period. Our certificate of incorporation and bylaws do not provide for cumulative voting rights.

No Preemptive or Similar Rights. The holders of our common stock and Class A Common Stock have no preemptive or subscription
rights, and there are no redemption or sinking fund provisions applicable thereto. Additionally, the holders of our common stock (excluding
the holders of Class A Common Stock) have no conversion rights.

Adjustment to Class A Common Stock Conversion Ratio. If Journey, at any time effects a subdivision or combination of the outstanding
common stock (or other capital stock or securities at the time issuable upon conversion of the Class A Common Stock) (by any stock
split, stock dividend, recapitalization, reverse stock split or otherwise), the Conversion Ratio for the Class A Common Stock in
effect immediately before that subdivision will be proportionately decreased or increased, as applicable depending on whether there is
a subdivision or combination, so that the number of shares of common stock issuable on conversion of each share of Class A Common
Stock shall be increased or decreased, as applicable, depending on whether there is a subdivision or combination, in proportion to such
increase or decrease in the aggregate number of shares of common stock outstanding. Additionally, if any reorganization, recapitalization,
reclassification, consolidation or merger involving the Company occurs in which the common stock (but not the Class A Common Stock)
is converted into or exchanged for securities, cash or other property, then each share of Class A Common Stock becomes convertible
into the kind and amount of securities, cash or other property which a holder of the number of shares of common stock of the Company issuable
upon conversion of one share of