Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 233

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 233
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 adopted and approved the Transaction Agreements, the Transactions, the Name Change Charter Amendment, the Amended and Restated 2023 Plan and the Reverse Stock Split. The delivery of the Written Consent constituted the necessary approvals of stockholders for the approval of the Transaction Agreements and the Transactions, subject to the other conditions set forth in the Transaction Agreements, the Name Change Charter Amendment and the Amended and Restated 2023 Plan. As a result, no further action by any stockholder of Channel is required under applicable law or the Transaction Agreements (or otherwise) to adopt the Transaction Agreements, approve the Transactions, approve the Name Change Charter Amendment, approve the Amended and Restated 2023 Plan or approve the Reverse Stock Split.

#### The NYSE American Stock Market Listing
Shares of Channel common stock are currently listed on The NYSE American under the symbol “CHRO.” Channel has agreed to cause the shares of Channel common stock issuable upon conversion of the shares of Channel Series A Preferred Stock being issued in the Merger to be approved for listing on The NYSE American at or prior to the Effective Time.

Channel intends to file a listing application for the combined company with The NYSE American. After completion of the Merger, the combined company will be renamed “Pelthos Therapeutics Inc.” and, assuming approval of the application for continued listing, the common stock of the combined company will trade on The NYSE American under the symbol “PTHS”. However, The NYSE American’s determination of the combined company’s listing status is not known as of the date of this information statement.

In addition, under the Merger Agreement, each of Channel’s and LNHC’s obligations to complete the Merger is subject to the satisfaction or waiver by each of the parties, at or prior to the Merger, of various conditions, including that the shares of Channel common stock issuable upon conversion of the shares of Channel Series A Preferred Stock to be issued in the Merger have been approved for listing on The NYSE American, subject to official notice of issuance, as of the closing of the Merger.

#### Appraisal Rights and Dissenters’ Rights
Holders of Channel common stock are not entitled to dissenter’s or appraisal rights under Nevada law in connection with the Merger. The sole stockholder of LNHC, Ligand, has provided its written consent in connection with the Merger and irrevocably waived all applicable appraisal rights and the right to receive notice thereof provided by Section 262 of the DG