Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 166

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 166
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 This exemption, however, creates some uncertainty as to which loans could be deemed as incidental to LNHC’s business. In addition, there is another exemption that would allow a person without a CFL finance lenders license to make a single commercial loan with a California nexus in a 12-month period.

### Other Risks and Uncertainties Affecting LNHC’s Business
**The occurrence of a catastrophic disaster could disrupt LNHC’s business, damage its facilities beyond insurance limits, increase its costs and expenses, or it could lose key data which could cause it to curtail or cease operations.

LNHC is vulnerable to damage, business disruptions and/or loss of vital data from natural or man-made disasters, such as earthquakes, tornadoes, severe weather conditions, power loss, fire, floods and similar events, as well as from accidental loss or destruction. If any disaster were to occur, LNHC’s ability to operate its business could be seriously impaired. LNHC’s parent, Ligand, has property, liability, and business interruption insurance which may not be adequate to cover LNHC’s losses resulting from disasters or other similar significant business interruptions, and Ligand does not plan to purchase additional insurance to cover such losses due to the cost of obtaining such coverage. Any significant losses that are not recoverable under Ligand’s insurance policies could seriously impair LNHC’s business, financial condition and prospects.

Impairment charges pertaining to goodwill, identifiable intangible assets or other long-lived assets from LNHC’s mergers and acquisitions could have an adverse impact on LNHC’s results of operations and the market value of it.

The total purchase price pertaining to transactions that result in the fair valuing of assets and liabilities, may be allocated to net tangible assets, identifiable intangible assets, in-process research and development and goodwill. To the extent the value of goodwill or identifiable intangible assets or other long-lived assets become impaired, LNHC will be required to incur material charges relating to the impairment. Any impairment charges could have a material adverse impact on LNHC’s results of operations and the market value of LNHC.

LNHC’s results of operations and liquidity needs could be materially negatively affected by market fluctuations and economic downturn.

LNHC’s results of operations could be materially negatively affected by economic conditions generally, both in the United States and elsewhere around the world. Concerns over inflation, energy costs, geopolitical issues, military conflicts, including the wars between Russia and Ukraine and Israel and Hamas, terrorism, public health emergencies or pandemics, the availability and cost of credit, and the