Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 267

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 267
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 and file a resale registration statement with the SEC on or prior to the later of (i) thirty (30) days following the closing of the PIPE Financing and (ii) fifteen (15) calendar days after the due date of the next periodic report required pursuant to Section 13 of the Exchange Act. Channel will use its reasonable best efforts to cause this registration statement to be declared effective by the SEC within 120 calendar days of the closing of the PIPE Financing (or within 150 calendar days if the SEC reviews the registration statement), subject to acceleration under certain circumstances.

The foregoing summary of the Registration Rights Agreement does not purport to be complete and is qualified in its entirety by reference to the Registration Rights Agreement, attached as Annex J to this information statement and incorporated herein by reference.

#### Royalty Agreements
As an inducement to enter into the Purchase Agreement, at the closing of the Merger, (i) LNHC and affiliates of Nomis Bay and BPY Limited, a Bermuda exempted company (collectively, the “Royalty Purchasers”) will enter into an agreement pursuant to which the Royalty Purchasers will receive a low single digit percentage of net sales of ZELSUVMI worldwide, other than in Japan, and a low-mid single digit percentage of non-royalty sublicensing payment received by LNHC for its sublicensing of rights to ZELSUVMI; (ii) CHRO and Ligand will enter into an agreement pursuant to which Ligand will receive a low-single digit percentage of worldwide net sales of all products of LNHC and its subsidiaries other than ZELSUVMI; (iii) CHRO and the Royalty Purchasers will enter into an agreement pursuant to which the Royalty Purchasers will receive a high-mid single digit percentage of worldwide net sales of all products of LNHC and its subsidiaries other than ZELSUVMI; and (iv) CHRO and members of Channel management will enter into an agreement pursuant to which members of Channel management will receive a low single digit percentage of worldwide net sales of all products of LNHC and its subsidiaries other than ZELSUVMI. Pursuant to the Merger Agreement, before the closing of the Merger, the relevant parties described in the foregoing sentence will negotiate in good faith the final forms of the agreements necessary to effectuate the foregoing payments.

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#### TABLE OF CONTENTS

#### THE AMENDED AND RESTATED 2023 PLAN

#### General
On April 11, 2025,