Company: PTHS
Filing Date: 2025-04-17
Form Type: 8-K
Source: 0001753926-25-000652
Chunk: 8

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-04-17
Form: 8-K
Item: Item 1.01
Chunk 8
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 8-K and which are incorporated
herein by reference. The Merger Agreement, the Securities Purchase Agreement, the form of Lock-Up Agreements, the form of Certificate
of Designations, and the form of Registration Rights Agreement have been attached as exhibits to this Current Report on Form 8-K
to provide investors and securityholders with information regarding their respective terms. They are not intended to provide any
other factual information about LNHC or Channel or to modify or supplement any factual disclosures about Channel in its public
reports filed with the SEC. The Transaction Agreements include representations, warranties and covenants of Channel, LNHC and Merger
Sub made solely for the purpose of the Transaction Agreements and solely for the benefit of the parties thereto in connection with
the negotiated terms of the Transaction Agreements. Investors should not rely on the representations, warranties and covenants
in the Transaction Agreements or any descriptions thereof as characterizations of the actual state of facts or conditions of Channel,
LNHC or any of their respective affiliates. Moreover, certain of those representations and warranties may be subject to a contractual
standard of materiality different from those generally applicable to SEC filings or may have been used for purposes of allocating
risk among the parties to the Transaction Agreements, rather than establishing matters of fact.

Item 3.02. Unregistered Sales of Equity
Securities.

The securities to be issued in the Merger
and sold to the PIPE Investors will not be registered under the Securities Act, and will be issued and sold in reliance on the
exemption from registration requirements thereof provided by Section 4(a)(2) of the Securities Act as a transaction by an issuer
not involving a public offering. The disclosure set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated
by reference into this Item 3.02.

Item 4.01. Changes in Registrant’s Certifying Accountant.

Based on information provided by Marcum
LLP (“ Marcum”), the independent registered public accounting firm of Channel, on November 1, 2024, CBIZ CPAs
P. C. (“ CBIZ”) acquired the attest business of Marcum, and substantially all of the partners and staff that provided
attestation services with Marcum joined CBIZ. On April 11, 2025, Channel was notified by Marcum that Marcum resigned as Channel’s
independent registered public accounting firm. On April 11, 2025, with