Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 173

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 173
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 IPO. The October Promissory Notes bear no interest except in the case of certain events of default. On
November 7, 2023, we amended and restated the October Promissory Notes to extend the maturity dates of the October Promissory
Notes to November 17, 2023. On November 13, 2023, we amended and restated the October Promissory Notes to further extend the maturity
dates of the Promissory Notes to February 29, 2024. The October Promissory Notes were repaid on February 26, 27 and 28, 2024.

On
November 22, 2023, we commenced the Rights Offering pursuant to which we distributed Subscription Rights to each holder of our
Common Stock held as of the Rights Offering Record Date. The Subscription Rights could be exercised at any time during the subscription
period, which commenced on November 22, 2023 and expired at 5:00 p.m., Eastern Standard Time, on December 1, 2023. The Subscription
Rights were offered to all of our pre-existing stockholders, including Aperture Healthcare Ventures Ltd., MDB Merchants Park LLC,
Balmoral and AME Equities LLC (each a related party based on share ownership in excess of 5%, or resulting from a principal at
one of the entities being on the Company’s board of directors), and each participated and exercised their Subscription Rights
to purchase an aggregate of 1,211,238 shares of Common Stock at the Subscription Price. In addition, we distributed to Mr. Knuettel,
our Chief Executive Officer and Chief Financial Officer, and Mrs. Lara Knuettel c/o The Lara H. Knuettel Revocable Trust, a trust
for which Mr. Knuettel and his wife are co-trustees (the “Knuettel Trust”), and at no charge to them, additional non-transferable
Subscription Rights to purchase up to an aggregate 158,731 shares of our Common Stock in the Rights Offering at the same Subscription
Price. On December 27, 2023, the Knuettel Trust made a charitable donation of 27,778 of those shares to Temple Israel of the City
of New York. On June 28, 2024, the Knuettel Trust made an additional charitable donation of 5,000 shares to Temple Israel of the
City of New York and 15,000 shares to The Hewitt School. Also on