Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 140

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 and Exchange Commission regulations, including the guidelines and conditions
of Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The timing and actual number of shares repurchased
will depend on a variety of factors including trading price, the Company’s financial performance, corporate and regulatory
requirements and other market conditions. On October 22, 2024, the board of directors authorized an amendment (the “Amendment”)
to the Repurchase Plan to increase the total value of shares of Common Stock available for repurchase by the Company under the
Repurchase Plan by an additional $500,000, to $750,000.

On
February 25, 2025, the Company issued an unsecured promissory note in the aggregate principal amount of $325,000 (the “February
Bridge Note”) to the Holder, for a purchase price of $250,000, pursuant to which the Company promises to pay the Holder
or its registered assigns the principal sum of $325,000 or such amount equal to the outstanding principal amount of the February
Bridge Note together with interest. The February Bridge Note bears interest on the outstanding principal amount at an annual rate
equal to 6.0%. The February Bridge Note may be prepaid by the Company without penalty, in whole or in part, upon two days’
prior written notice to the Holder. All unpaid principal, together with any then unpaid and accrued interest and other amounts
payable under the February Bridge Note, will otherwise be due and payable on the earliest of: (i) May 25, 2025, (ii) the consummation
of a Corporate Event (as defined in the February Bridge Note), or (iii) when, upon or after the occurrence of an Event of Default
(as defined in the February Bridge Note), such amounts are declared due and payable by the Holder or made automatically due and
payable in accordance with the terms of the February Bridge Note.

On
May 8, 2025, the Company issued an unsecured promissory note in the aggregate principal amount of $325,000 (the “May Bridge
Note”) to the Holder, for a purchase price of $250,000, pursuant to which the Company promises to pay the Holder or its
registered assigns the principal sum of $325,000 or such amount equal to the outstanding principal amount of the May Note together
with interest. The May Bridge Note bears interest on the