Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 99

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 99
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designations, rights and preferences as may be determined from time to time by our Board. Our Board is empowered, without stockholder
approval, to issue a series of preferred stock with dividend, liquidation, conversion, voting or other rights which could dilute
the interest of, or impair the voting power of, our common stockholders. The issuance of a series of preferred stock could be
used as a method of discouraging, delaying, or preventing a change in control of the Company. For example, it would be possible
for our Board to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt
to change control of the Company.

Our
Series C Convertible Redeemable Preferred Stock, par value of $0.0001 per share (“Series C Preferred Stock”)currently
ranks (i) senior to the Common Stock and any class or series of capital stock of the Company created specifically ranking by its
terms junior to the Series C Preferred Stock; and (ii) junior to any class or series of capital stock of the Company created after
the creation of the Series C Preferred Stock specifically ranking by its terms senior to any Series C Preferred Stock, in each
case, with respect to payment of dividends and distributions of assets upon liquidation, dissolution or winding up of the Corporation,
whether voluntarily or involuntarily. For further information regarding our shares of Series C Preferred Stock, please refer to
the Certificate of Designations of Series C Convertible Redeemable Preferred Stock, filed with the Secretary of State of the State
of Nevada on November 8, 2024 filed as an exhibit to, and the disclosure contained in, our Post-Effective Amendment No. 1 on Form
S-1 filed with the SEC on November 22, 2024.

Our articles of incorporation designate the Second Judicial District
Court, in and for the State of Nevada, located in Washoe County, Nevada, as the exclusive forum for certain types of actions and
proceedings that may be initiated by our stockholders, which could limit stockholders’ ability to obtain a favorable judicial
forum for disputes with us or our directors, officers, employees or agents.

Our
articles of incorporation require that, to the fullest extent permitted by law, and unless we otherwise consent in writing to
the selection of an alternative forum, the Second Judicial District Court, in and for the State of Nevada, located in Washoe County,
Nevada, (or if the Second Judicial