Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1314

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 1314
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 have agreed to offer for resale of up to
an aggregate of 2,969,823 Selling Stockholder Shares to the public. After conversion of the convertible notes or shares of preferred
stock, as applicable, the Selling Stockholders, or their respective transferees, pledgees, donees or other successors-in-interest,
may sell the Selling Stockholders Shares through public or private transactions at prevailing market prices, at prices related
to prevailing market prices or at privately negotiated prices. We will not receive any proceeds from the sale of the Stockholder
Shares by the Selling Stockholders.

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 $30,000,000 (the “Total
Commitment”) of the shares of Common Stock (the “Purchase Shares”), subject to certain limitations set forth
in the CEF Purchase Agreement, from time to time during the term of the CEF Purchase Agreement. Concurrently with the execution
of the CEF Purchase Agreement, the Company and Tikkun also entered into a Registration Rights Agreement, dated as of July 26,
2024, pursuant to which the Company agreed to file with the SEC one or more registration statements, to register under the Securities
Act, the offer and resale by Tikkun of all of the Purchase Shares that may be issued and sold by the Company to Tikkun from time
to time under the CEF Purchase Agreement.

77 

On
August 5, 2024, our board of directors authorized the Repurchase Plan, pursuant to which up to $250,000 of our Common Stock may
be repurchased prior to December 31, 2024, unless completed sooner or otherwise extended. Open market purchases are intended to
be conducted in accordance with applicable Securities and Exchange Commission regulations, including the guidelines and conditions
of Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The timing and actual number of shares repurchased
will depend on a variety of factors including trading price, the