Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 777

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 777
---
ated 2023 Plan”), and to increase the total number of shares of Company Common Stock available for issuance under the 2023 Plan from 1,944,444 to 24,000,000 (prior to giving effect to any Reverse Stock Split); WHEREAS , upon consummation of the Merger and the other transactions contemplated by the Merger Agreement, the Financing and the Financing Documents, the Consenting Stockholders, upon the recommendation of the Board, deem it advisable and in the best interests of the Company and the Company Stockholders to change the Company’s legal name from “Channel Therapeutics Corporation” to “Pelthos Therapeutics Inc.” (the “Name Change ”), and in this regard, the Board has taken into account that the Name Change would more align the Company’s name with the Company’s products and services going forward; WHEREAS , in connection with the Name Change, the Consenting Stockholders, upon the recommendation of the Board, deem it advisable and in the best interests of the Company and the Company Stockholders to amend the articles of incorporation of the Company, substantially in the form attached hereto asExhibit F (the “Certificate of Amendment ”); WHEREAS , the Board has:

| (i) | determined that the terms of the Merger Agreement, the Merger, the Financing Documents, the Financing, and the other transactions contemplated by the Merger Agreement and the Financing Documents, the Series A Certificate of Designations, any Reverse Stock Split, the Share Issuances, the Amended and Restated 2023 Plan, the Name Change and the Certificate of Amendment are fair to and in the best interests of the Company Stockholders; |

| (ii) | declared it advisable for the Company to enter into the Merger Agreement and the Financing Documents and to consummate the Merger, the Financing, the Series A Certificate of Designations, the Share Issuances, any Reverse Stock Split, the Amended and Restated 2023 Plan, the Name Change and the other transactions contemplated by the Merger Agreement, the Financing Documents, the Series A Certificate of Designations, the Amended and Restated 2023 Plan and the Certificate of Amendment; |

| (iii) | authorized and approved the execution, delivery and performance by the Company of the Merger Agreement, Financing Documents, the Series A Certificate of Designations, any Reverse Stock Split, the Share Issuances, the Amended and Restated 2023 Plan and the Certificate of Amendment and all agreements and documents