Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 30

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 common stock at a ratio of 1 to 100, the fair value estimate of the Company’s Series
                                         A Preferred Stock is calculated as the closing Company common stock price on June 30,
                                         2025 multiplied by 100.

The preliminary purchase price is subject to further adjustments
based on the final determination of purchase price adjustments, if any. 

The
Company has made a preliminary allocation of the consideration transferred to the tangible and intangible assets acquired and liabilities
assumed of LNHC based on their estimated fair value as follows:

Schedule of Business Acquisition Purchase Price Allocation 

    Cash and cash equivalents 
    $2,761 

    Accounts receivable 
     48 

    Inventory 
     26,203 

    Prepaid expenses and other current assets 
     1,189 

    Intangible assets 
     33,200 

    Property and equipment 
     10,633 

    Operating lease right-of-use assets 
     3,595 

    Other assets 
     65 

    Accounts payable 
     (1,562)

    Accrued liabilities 
     (9,201)

    Short-term Bridge loan 
     (18,785)

    Deferred revenue, current portion 
     (1,072)

    Operating lease liabilities, current portion 
     (625)

    Deferred revenue, long-term portion 
     (1,763)

    Operating lease liabilities, long-term portion 
     (2,970)

    Deferred tax liability 
     (13,331)

    Other long-term liabilities 
     (19,600)

    Fair value of net assets acquired 
     8,785 

    Goodwill 
     30,625 

    Consideration transferred 
    $39,410 

The Company has estimated the preliminary
fair value of assets acquired and liabilities assumed based on information currently available and will continue to adjust those
estimates as additional information pertaining to events or circumstances present at the Merger Closing Date becomes available
and final appraisals and analysis are completed. The Company will reflect measurement period adjustments, in the period in which
the adjustments occur, and the Company will finalize its accounting for the acquisition within one year from July 1, 2025. A change
in the fair value of the net assets may change the amount recognized to goodwill. If the final fair value estimates and tax adjustments
related to the net assets acquired decrease from their preliminary estimates