Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 63

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 and accrued interest and other amounts
payable under the February Bridge Note, will otherwise be due and payable on the earliest of: (i) May 25, 2025, (ii) the consummation
of a Corporate Event (as defined in the February Bridge Note), or (iii) when, upon or after the occurrence of an Event of Default
(as defined in the February Bridge Note), such amounts are declared due and payable by the Holder or made automatically due and
payable in accordance with the terms of the February Bridge Note.

On
May 8, 2025, the Company issued an unsecured promissory note in the aggregate principal amount of $325,000 (the “May Bridge
Note”) to the Holder, for a purchase price of $250,000, pursuant to which the Company promises to pay the Holder or its
registered assigns the principal sum of $325,000 or such amount equal to the outstanding principal amount of the May Note together
with interest. The May Bridge Note bears interest on the outstanding principal amount at an annual rate equal to 6.0%. The May
Bridge Note may be prepaid by the Company without penalty, in whole or in part, upon two days’ prior written notice to the
Holder. All unpaid principal, together with any then unpaid and accrued interest and other amounts payable under the May Bridge
Note, will otherwise be due and payable on the earliest of: (i) September 30, 2025, (ii) the consummation of a Corporate Event
(as defined in the May Bridge Note), or (iii) when, upon or after the occurrence of an Event of Default (as defined in the Note),
such amounts are declared due and payable by the Holder or made automatically due and payable in accordance with the terms of
the May Bridge Note.

On
June 23, 2025, the Company issued an unsecured promissory note in the aggregate principal amount of $162,500 (the “June
Bridge Note”) to the Holder, for a purchase price of $125,000, pursuant to which the Company promises to pay the Holder
or its registered assigns the principal sum of $162,500 or such amount equal to the outstanding principal amount of the June Note
together with interest. The June Bridge Note bears interest on the outstanding principal amount at an annual rate equal to 6.0%.
The June Bridge Note may be prepaid by the Company without penalty, in whole or in part, upon