Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 826

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 826
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 common stock, par value $0.001 per share, of Merger Sub (the “ Merger Sub Common Stock ”) issued and outstanding immediately prior to the Effective Time will be converted into and become one (1) fully paid and nonassessable share of common stock, par value $0.01 per share, of the Surviving Corporation and (ii) each share of common stock, par value $0.01 per share, of Merger Partner (the “ Merger Partner Common Stock ”) other than Merger Partner Common Stock held in treasury immediately prior to the Effective Time will be automatically converted into the right to receive a number of shares of Series A Convertible Preferred Stock, par value $0.0001 per share, of the Company (the “ Series A Preferred Shares ”) equal to the Exchange Ratio (as defined in the Merger Agreement);

WHEREAS , as a condition to closing the Merger, concurrently with the execution and delivery of the Merger Agreement, the Company has entered into a Securities Purchase Agreement, dated as of April 16, 2025, by and among the Company, Merger Partner, Ligand, Nomis Bay Ltd., a Bermuda exempted company (“ Nomis Bay ”) and certain other investors acceptable to Nomis Bay (the “ Other Investors ” and collectively with Ligand and Nomis Bay, the “ Investors ”) attached hereto as Exhibit B (the “ Securities Purchase Agreement ”), providing for an aggregate commitment of not less than $50,000,000 in the Surviving Corporation, pursuant to which such Investors have agreed to purchase the number of Series A Preferred Shares immediately prior to the Effective Time (the “ Financing ”), which also contemplates that the Company will enter into a Registration Rights Agreement by and among the Company and the Investors attached hereto as Exhibit C (the “ Registration Rights Agreement ” and together with the Securities Purchase Agreement, the “ Financing Documents ”);

WHEREAS , pursuant to Section 78.140 of the NRS, no contract or transaction between a corporation and one or more of its directors or officers, or between a corporation another corporation, firm or association in which one or more of its directors or officers are directors or officers, or are financially interested, is void or voidable solely for this reason, or solely because the director or officer is present at the meeting of the board of directors or committee that authorizes the contract or transaction or joins tin the signing of a written consent which authorizes or approves the contract or transaction, or solely