Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 399

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 399
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| (Dollars in thousands)            |     |            January 1 to 
             December 31 |     | September 28 to 
     December 31 |     | January 1 to 
 September 27 |
| Other income (expense), net:      |     |                         |     |                 |     |              |
| Interest income                   |     |                     $​— |     |              $— |     |          $66 |
| Interest expense                  |     |                  -1,878 |     |            -360 |     |            — |
| Other income (expense)            |     |                       2 |     |             -39 |     |           11 |
| Total other income (expense), net |     |                $(1,876) |     |          $(399) |     |          $77 |

Interest income was zero during the year ended December 31, 2024 (Successor), a decrease of $66 thousand, or (100)%, compared to a sum of $66 thousand and zero for the period from January 1, 2023 to September 27, 2023 (Predecessor) and September 28, 2023 to December 31, 2023 (Successor), respectively. The Company had no interest income during the Successor periods as all cash and short-term investments are managed by the Parent company. Interest expense was $1.9 million during the year ended December 31, 2024 (Successor), an increase of $1.5 million compared to a sum of zero and $360 thousand for the period from January 1, 2023 to September 27, 2023 (Predecessor) and September 28, 2023 to December 31, 2023 (Successor), respectively. Interest expense is attributable to a long-term liability to Reedy Creek. During the Predecessor period this liability was recorded on the balance sheet at historical cost. As of Novan Acquisition date, this liability was recognized at fair value in Ligand’s purchase accounting adjustments of Novan. Subsequently, during the Successor periods, this liability was accounted for under the effective interest method with non-cash interest expense added to the amount of liability on a quarterly basis. Income tax benefit Income tax benefit during year ended December 31, 2024 (Successor), and for the periods from January 1, 2023 to September 27, 2023 (Predecessor) and September