Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 259

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 259
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 the Written Consent on or prior to 5:00 p.m. New York City Time, on the date that is two business days after the execution of the Merger Agreement; |

| (e) | by Channel, at any time prior to the receipt of the approval by Ligand of the adoption of the Merger Agreement, if any of the following circumstances shall occur: |

| • | The LNHC board of directors has effected an LNHC board of directors recommendation change; or |

| • | LNHC has materially breached certain of its non-solicitation obligations under the Merger Agreement or the obligation to deliver the required stockholder approval under the Merger Agreement; |

| (f) | by LNHC, at any time prior to the receipt of the required Channel stockholder approvals, if any of the following circumstances shall occur: |

| • | The Channel board of directors has effected a Channel board of directors recommendation change; or |

| • | Channel has materially breached certain of its non-solicitation obligations under the Merger Agreement or the obligation to deliver the required stockholder approval under the Merger Agreement; |

| (g) | by Channel, if LNHC has breached or failed to perform any of its representations, warranties, covenants or agreements contained in the Merger Agreement such that certain conditions to the closing of the Merger would not be satisfied; provided that Channel is not then in material breach of any representation, warranty, or covenant under the Merger Agreement; provided, further, if such breach or failure to perform is curable by LNHC, then the Merger Agreement will not terminate pursuant to this paragraph as a result of such particular breach or failure until the expiration of a 30-day period commencing upon delivery of written notice of such breach or failure from Channel to LNHC (it being understood that the Merger Agreement will not terminate as a result of such particular breach or failure if such breach or failure by LNHC is cured prior to such termination becoming effective); |

| (h) | by LNHC, if Channel has breached or failed to perform any of its representations, warranties, covenants or agreements contained in the Merger Agreement such that certain conditions to the closing of the Merger |

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would not be satisfied; provided that LNHC is not then in material breach of any representation, warranty, or covenant under the Merger Agreement; provided, further, if such breach or failure to perform is curable by Channel or Merger Sub, as applicable