Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 453

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 453
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TABLE OF CONTENTS

COMPARISON OF RIGHTS OF HOLDERS OF CHANNEL CAPITAL STOCK AND LNHC CAPITAL STOCK The Channel articles of incorporation differs in several respects from the certificate of incorporation of LNHC. Set forth below is a table summarizing certain material differences in the rights of LNHC under Delaware law as compared with the rights of Channel stockholders under Nevada law, and under the respective charters and bylaws. This chart does not attempt to address each difference, but instead focuses on those differences which we believe are most relevant and material to LNHC. This chart is qualified in its entirety by reference to the NRS, the Channel articles of incorporation (the “Nevada Articles of Incorporation”), the Channel bylaws (the “Nevada Bylaws”), the DGCL, the LNHC certificate of incorporation (the “Delaware Certificate of Incorporation”) and the LNHC bylaws (the “Delaware Bylaws”).

| Provisions                                                             |     | Nevada                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     | Delaware                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Corporate Name                                                         |     | Channel Therapeutics Corporation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |     | LNHC, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Charter regarding increase and/or decrease of authorized capital stock |     | The Nevada Articles of Incorporation provide that, subject to the rights of the holders of any series of Channel preferred stock pursuant to a certificate of designation currently in effect establishing such series of preferred stock in accordance with the NRS and any provision of the NRS requiring otherwise, the number of authorized shares of any of the Channel capital stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the vote required by the holders of such Channel capital stock pursuant to the Nevada Bylaws.                                                                             |     | The Delaware Certificate of Incorporation does not expressly condition the increase or decrease or the number of authorized shares by the holders of LNHC capital stock.                                                                                                                                                                                                                                                                                                                                                                                      |
| Charter regarding voting                                               |     | The Nevada Articles of Incorporation provide that holders of shares of Channel common stock will not be entitled to vote on any amendment to the Nevada Articles of Incorporation (including any certificate of designation for any Channel preferred stock) that relates solely to the terms of one or more outstanding series of Channel preferred stock if the holders of such affected series are entitled, either separately or together as a class with the holders of one or more other such series, to vote thereon pursuant to the Nevada Articles of Incorporation (including any certificate of designation for any