Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 672

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 672
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ITIES PURCHASE AGREEMENT
This

### SECURITIES PURCHASE AGREEMENT
(the “

#### Agreement
”), dated as of April 16, 2025, is by and among Channel Therapeutics Corporation, a Nevada corporation with offices located at 4400 Route 9 South, Suite 1000, Freehold, NJ 07728 (the “

#### Company
”), LNHC, Inc. a Delaware corporation, with offices located at 4020 Stirrup Creek Drive Suite 110, Durham, NC 27703 (the “

#### Target
”, and together with the Company, the “

#### BC Parties
”), and each of the investors listed on the Schedule of Buyers attached hereto (individually, a “

#### Buyer
” and collectively, the “

#### Buyers
”).

### RECITALS
A. Prior to the date hereof the Company has obtained bridge notes, in an aggregate amount not to exceed $24,000,000 (the “

#### Bridge Notes
”), from certain of the Buyers (the “

#### Bridge Buyers
”), which shall become due and payable at the time of Closing (as defined below).

B. Concurrently with the execution of this Agreement, the Company entered into that certain Agreement and Plan of Merger (the “

#### Merger Agreement
”), with the Target, and CHRO Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“

#### Merger Sub
”), pursuant to which, among other things, the Merger Sub shall merge with and into the Target and, at the closing thereof (the “

#### Closing
”, and such date, the “

#### Closing Date
”), the Target, as the surviving entity, shall be a wholly-owned subsidiary of the Company (the “

#### Merger
”).

C. The Company, the Target and each Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “

#### 1933 Act
”), and Rule 506(b) of Regulation D (“

#### Regulation D
”) as promulgated by the United States Securities and Exchange Commission (the “

#### SEC
”) under the 1933 Act.

D. The Company has authorized (i) a new series of convertible preferred stock of the Company designated as Series A Convertible Preferred Stock, par value $