Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 236

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 236
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, documents filed with the SEC and the accuracy of information contained in those documents; |

| • | liabilities; |

| • | material changes or events; |

| • | tax matters; |

| • | real property and leaseholds; |

| • | intellectual property; |

| • | contracts; |

| • | litigation; |

| • | environmental matters; |

| • | employee benefit plans; |

| • | compliance with laws; |

| • | permits and regulatory matters; |

| • | employee matters; |

| • | insurance; |

| • | brokers, fees and expenses; |

| • | certain transactions or relationships with affiliates; |

| • | internal controls and procedures; |

| • | books and records; |

| • | privacy and data protection; |

| • | with respect to Channel, the Fairness Opinion of M&N Sarchet; |

| • | with respect to Channel, matters related to the valid issuance in the Merger of Channel common stock; |

| • | with respect to Channel, matters related to Section 203 of the DGCL and NRS 78.411 through 78.444; |

| • | with respect to Channel, the operations of Merger Sub; |

| • | with respect to Channel, matters related to shell company status under the Securities Act; and |

| • | with respect to LNHC, ownership of Channel common stock. |

The representations and warranties are, in many respects, qualified by materiality and knowledge, and will not survive the Merger, but their accuracy forms the basis of one of the conditions to the obligations of Channel, Merger Sub and LNHC to complete the Merger.

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TABLE OF CONTENTS

Covenants; Conduct of Business Pending the Merger Channel has agreed that, except as permitted by the Merger Agreement or unless LNHC has provided written consent (which consent shall not be unreasonably withheld, conditioned or delayed), or to the extent necessary to comply with any applicable law or as required in connection with the PIPE Financing, during the period commencing on the date of the Merger Agreement and continuing until the earlier to occur of the Effective Time and the termination of the Merger Agreement, Channel and its subsidiaries will use commercially reasonably efforts to, act and carry on its business in the ordinary course of business and to preserve intact the Channel’s present business organization, goodwill and relations with material customers and suppliers. Channel has also agreed that, except as permitted by the Merger Agreement or unless LN