Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 96

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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000

    (52,740
    )

    272,260

    June Bridge Note

    162,500

    (38,624
    )

    123,876

    Total As of June 30, 2025
     
    $
    2,267,916

    $
    (95,097
    )
     
    $
    2,172,819

     Loan Payable
     
    Outstanding
        
        Principal

    Unamortized
        
        Debt
        Discount

    Outstanding
        
        Principal,
        net of
         Debt
Discount 

    May Promissory Note
     
    $
    1,455,416

    $
    —

    $
    1,455,416

    Convertible Note

    726,212

    (127,426
    )

    598,786

    Total As of December 31, 2024
     
    $
    2,181,628

    $
    (127,426
    )
     
    $
    2,054,202

14 

NOTE
6 – STOCKHOLDERS’ EQUITY

Initial
Public Offering

On
February 21, 2024, the Company completed its IPO and issued 110,000 shares of Common Stock at a price of $60.00 per
share. The aggregate net proceeds from the IPO were approximately $5.9 million after deducting approximately $0.9 million of
underwriting discounts and commissions and offering expenses.

Stock
Split

On
February 15, 2024, the Company effected a 9-for-1 reverse stock split. All share and per share amounts have been retrospectively
adjusted for the reverse stock split, see Note 9.

On
July 1, 2025, the Company effected a 10-for-1 reverse stock split. All share and per share amounts have been retrospectively
adjusted for the reverse stock split.

2023
Plan Amendment

On
June 12, 2024, the Board authorized an amendment to the Pelthos Therapeutics Inc. 2023 Equity Incentive Plan (the “2023
Plan”) to increase the number of shares of Common Stock authorized for issuance thereunder by 150,000 from 44,444 shares
to 194,444 shares. On