Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 52

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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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 $5,900 after deducting approximately $900 of underwriting discounts and commissions and offering
expenses.

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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. 

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 (as further amended and/or restated,
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 October 22, 2024, the 2023 Plan Amendment was approved by 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. On April 16, 2025, pursuant to a written consent of the majority of shareholders of the Company, the number
of shares authorized for issuance under the 2023 Plan was increased to 2,400,000 shares. The Company’s board of directors
approved the increase to the 2023 Plan on June 26, 2025.

Committed
Equity Financing

On
July 26, 2024,
the Company entered into a Common Stock Purchase Agreement, dated as of July 26, 2024 (the
“CEF Purchase Agreement”), with Tikkun Capital LLC (“Tikkun”), providing for a committed equity financing
facility, pursuant to which, upon the terms and subject to the satisfaction of the conditions contained in the CEF Purchase Agreement,
Tikkun has committed to purchase, at the Company’s direction in its sole discretion, up to an aggregate of $30,000 (the
“Total Commitment”) of the shares of Common Stock (the “Purchase Shares”), subject to certain limitations