Company: PTHS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001753926-25-000790
Chunk: 45

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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among others, covenants relating to (i) obtaining the requisite approvals of their respective stockholders, (ii) non-solicitation
of alternative acquisition proposals, (iii) the conduct of their respective businesses during the period between the date of signing
the Merger Agreement and the closing of the Merger and (iv) the Company using its commercially reasonable efforts to maintain
the existing listing of the Common Stock on the NYSE American and the Company causing the shares of Common Stock issuable upon
conversion of the Series A Preferred Stock to be issued in connection with the Merger to be approved for listing on the NYSE American
at or prior to the Effective Time.

The
consummation of the Merger is subject to certain closing conditions, including, among other things, (i) the Merger Agreement having
been approved by means of written consents by the requisite stockholders of LNHC and the Company, (ii) the issuance of the Common
Stock and the amendment to the Company’s articles of incorporation to change the name of the Company to “Pelthos Therapeutics
Inc.” having been approved and ratified, respectively, by means of the written consent by the requisite consent of the Company
stockholders under applicable law and the NYSE American regulations, (iii) no governmental entity of competent jurisdiction having
enacted, issued, promulgated, enforced or entered any order, executive order, stay, decree, judgment or injunction (preliminary
or permanent) or statute, rule or regulation which is in effect and which has the effect of making the Merger illegal or otherwise
prohibiting consummation of the Merger, (iv) the approval of the listing of the additional shares of Common Stock issuable upon
conversion of the Series A Preferred Stock on the NYSE American having been obtained and the shares of Common Stock issuable upon
conversion of the Series A Preferred Stock to be issued in the Merger pursuant to the Merger Agreement having been approved for
listing, subject to official notice of issuance, on the NYSE American; (v) entry into the Royalty Agreements (as defined in therein),
and (vi) the PIPE Financing having been consummated or being consummated concurrently with the closing of the Merger or immediately
before the closing of the Merger in accordance with the terms of the Securities Purchase Agreement (as defined below). Each party’s
obligation to consummate the Merger is also subject to other specified customary conditions, including