Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 840

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 840
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 |                  |
| By:                         |     | /s/ Dan Nir      |
| Name:                       |     | Dan Nir          |
| Title:                      |     | Managing Partner |
| Number of Shares: 61,223.00 |     |                  |

E-19

TABLE OF CONTENTS

Annex F March 13, 2025 Board of Directors Channel Therapeutics Corporation 4400 Route 9 South, Suite 1000 Freehold, NJ 07728 Members of the Board: We understand that Channel Therapeutics Corporation, a publicly traded company (“ CHRO” or the “ Company”), proposes to enter into an Agreement and Plan of Merger (the “ Agreement”), among CHRO, CHRO Merger Sub (“Merger Sub”), and LNHC, Inc., a Delaware corporation (“ Merger Partner”) and pursuant to which, among other things, Merger Sub will merge with and into Merger Partner (the “ Merger”) in accordance with the terms of this Agreement and the General Corporation Law of the State of Delaware (the “ DGCL”), as a result of which Merger Partner (aka “ Surviving Corporation”) will become a wholly-owned subsidiary of CHRO. Each of the Company, Merger Sub and Merger Partner may be referred to herein as a “ Party” and collectively as the “ Parties.” Each share of the common stock, $0.001 par value per share, of Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into and become one fully paid and nonassessable share of common stock, $0.001 par value per share, of the Merger Partner. Each share of Merger Partner Capital Stock, other than shares to be cancelled and any Dissenting Shares, issued and outstanding immediately prior to the Effective Time shall be automatically converted into the right to receive a number of shares of CHRO Common Stock equal to the Exchange Ratio. As of the Effective Time, all such shares of Merger Partner Capital Stock shall cease to be outstanding and shall automatically be cancelled and shall cease to exist, and each holder of a certificate or non-certificated book entry representing any such shares of Merger Partner Capital Stock shall cease to have any rights with respect thereto, except the right to receive the shares of Public Company Common Stock and any cash in lieu of fractional shares of Public Company Common Stock. “Exchange Ratio” means the quotient obtained by dividing (x) the number of Merger Partner Merger Shares by (y) the number of Merger