Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 168

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 168
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 were approximately $5.7 million after deducting underwriting discounts and
commissions of approximately $0.5 million and offering expenses of approximately $0.4 million.

In
connection with the completion of the IPO: (A) we effected the 9-for-1 reverse stock split effective February 15, 2024 (the “Reverse
Stock Split”) of our shares of Common Stock, (B) all 600,000 issued and outstanding shares of our Series A Preferred Stock
automatically converted into 49,943 shares of Common Stock, (C) $389,757 and accrued interest of approximately $28,336 as of February
21, 2024 outstanding under our senior secured convertible notes issued in a bridge
financing in April 2023 for an aggregate principal amount of $393,808 (the “April Bridge Financing”) after
giving effect to the Representative Affiliate Transactions (as defined below), automatically converted into approximately 8,711
shares of Common Stock, (D) $197,421 and accrued interest of $8,169 as of February 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