Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 190

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 190
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 expect that Ligand be a party to the Purchase Agreement for purposes of providing representations, warranties and indemnities regarding LNHC to equity investors. In response, Latham communicated to Sullivan that, consistent with the terms of the term sheet, Ligand would expect all representations, warranties and indemnities to be provided by the combined public company (and not Ligand).

Also on February 25, 2025, representatives of Latham, on behalf of Ligand, delivered a revised draft Merger Agreement to Channel, Sullivan, Murchinson and Kelly Drye.

On February 27, 2025, Mr. Knuettel and Mr. Gay had a follow-up conversation to discuss the status of LNHC’s audited financials, the LNHC Projections, as well as the requirements with respect to the information statement to be filed in connection with the Transactions.

On March 3, 2025, representatives of Sullivan, on behalf of Channel, delivered a due diligence request list regarding LNHC’s operations to Ligand and Latham.

On March 4, 2025, representatives of Sullivan, on behalf of Channel, provided responses to Ligand’s due diligence requests regarding Channel’s operations and granted representatives of Ligand and Latham access to the virtual data room containing certain confidential information regarding Channel. Following the exchange of initial due diligence requests and materials, the parties continued to exchange supplemental due diligence requests and responsive diligence information regarding Channel’s operations.

On March 5, 2025, representatives of Latham, on behalf of Ligand, delivered revised drafts of the Purchase Agreement and ancillary documents for the PIPE Financing to Channel, Sullivan, Murchinson and Kelly Drye.

Following the exchange of the initial drafts of the Merger Agreement and Purchase Agreement, representatives of Latham, on behalf of Ligand, delivered drafts of certain other ancillary documents, including draft lock-up agreements, non-disclosure agreements and presentation materials for the PIPE Financing, bridge financing

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promissory notes and funding commitments and LNHC Disclosure Schedules to the Merger Agreement, to Channel, Sullivan, Murchinson and Kelly Drye. Similarly, representatives of Sullivan, on behalf of Channel, delivered drafts of certain other ancillary documents, including draft Channel Disclosure Schedules to the Merger Agreement, to Ligand, Latham, Murchinson and Kelly Drye.

From February 25, 2025 to April 16, 2025, representatives of Channel