Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 127

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 21, 2024 outstanding under our senior secured
convertible notes issued in a bridge financing in September 2023 for an aggregate principal
amount of $198,128 (the “September Bridge Financing” and together with the April Bridge Financing, the “Bridge
Financings”) after giving effect to the Representative Affiliate Transactions, automatically converted into
approximately 4,339 shares of Common Stock, which includes an additional 55 shares of Common Stock issuable as consideration for
the September Bridge Financing (the “Bonus Shares”), (E) we issued 3,750 shares of Common Stock to an investor as
consideration for its previous agreement to provide funding that is no longer necessary in connection with the IPO, (F) we effected
the Representative Affiliate Transactions, (G) we effected the transactions contemplated by the Holdings Side Letter, and issued
an aggregate of 2,600 shares of Series C Preferred Stock to Chromocell Holdings pursuant thereto, and (H) we issued (i) 9,383
shares to a lender holding a note payable for $450,000 (the “Investor Note”) and (ii) 2,917 shares to one of our directors
holding the promissory note in the aggregate principal amount of $175,000 (the “Director Note”) in full satisfaction
of our obligations thereunder (in the case of (A) through (D) and (H) above, based on the IPO price of $60.00 per share of Common
Stock). We refer to these actions as the “IPO Transactions.”

33 

In
addition, certain stockholders of the Company (“Selling Stockholders”), as identified in the Registration Statement,
have agreed to offer for resale of up to an aggregate of 296,983 shares of Common Stock (the “Selling Stockholder Shares”)
to the public. After conversion of the convertible notes or shares of preferred stock, as applicable, the Selling Stockholders,
or their respective transferees, pledgees, donees or other successors-in-interest, may sell the Selling Stockholders Shares through
public or private transactions at prevailing market prices, at prices related to prevailing market prices or at privately negotiated
prices. We will not receive any proceeds from the sale of the Selling Stockholder Shares by the Selling Stockholders.

The
affirmative vote of a majority of the outstanding shares of Common Stock present in person, by remote communication, if applicable,
or represented by proxy at the annual meeting