Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 445

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 445
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 and PIPE Financing had been consummated on March 31, 2025. The unaudited pro forma condensed combined statements of operations for the three months ended March 31, 2025 and year ended December 31, 2024 combine the historical statements of operations of Channel and LNHC for such periods on a pro forma basis as if the Merger and PIPE Financing had been consummated on January 1, 2024, the beginning of the earliest period presented. The unaudited pro forma condensed combined balance sheet as of March 31, 2025 has been prepared using, and should be read in conjunction with:

The unaudited pro forma condensed combined statements of operations for the three months ended March 31, 2025 and year ended December 31, 2024 have been prepared using, and should be read in conjunction with:

LNHC (as adjusted) in the unaudited pro forma condensed combined balance sheet as of March 31, 2025 is derived from the pro forma balance sheet information, as presented in Note 5, which reflects the historical balance sheet of LNHC, inclusive of the Ligand Bridge Loan and PIPE Investor Bridge Loans on a pro forma basis as if the

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transactions had been consummated on March 31, 2025. LNHC (as adjusted) in the unaudited pro forma condensed combined statements of operations for the year ended December 31, 2024 and three months ended March 31, 2025 are derived from the pro forma statement of operation information, as presented in Note 5, which reflects the historical statement of operations of LNHC, inclusive of the Ligand Bridge Loan, PIPE Investor Bridge Loans and IP Assignment, on a pro forma basis as if the transactions had been consummated on January 1, 2024. Assumptions and estimates underlying the unaudited pro forma adjustments included in the unaudited pro forma condensed combined financial statements are described in the accompanying notes. The unaudited pro forma adjustments are based on available preliminary information and certain assumptions that management believes are reasonable under the circumstances. The unaudited pro forma condensed combined financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results and financial position that would have been achieved had the Merger and PIPE Financing occurred on the dates indicated. The actual financial position and results of operations may differ materially from the information presented in these unaudited pro forma condensed combined financial statements as