Company: PTHS
Filing Date: 2025-09-29
Form Type: 424B3
Source: 0001753926-25-001561
Chunk: 69

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-09-29
Form: 424B3
Chunk 69
---
 unless the combination or purchase is approved by the board of directors before the interested stockholder acquired such shares. Generally, if approval is not obtained, then after the expiration of the two-year period, the business combination may be consummated with the approval of the board of directors before the person became an interested stockholder or a majority of the voting power held by disinterested stockholders, or if the consideration to be received per share by disinterested stockholders is at least equal to the highest of:

| ● | the                                                                                                                                  
 highest price per share paid by the interested stockholder within the three years immediately preceding the date of the announcement 
 of the combination or within three years immediately before, or in, the transaction in which he, she or it became an interested      
 stockholder, whichever is higher;                                                                                                    |

| ● | the                                                                                                                            
 market value per share on the date of announcement of the combination or the date the person became an interested stockholder, 
 whichever is higher; or                                                                                                        |

| ● | if                                                                                                       
 higher for the holders of preferred stock, the highest liquidation value of the preferred stock, if any. |

Generally, these provisions define an interested stockholder as a person who is the beneficial owner, directly or indirectly of 10% or more of the voting power of the outstanding voting shares of a corporation, and define combination to include any merger or consolidation with an interested stockholder, or any sale, lease, exchange, mortgage, pledge, transfer or other disposition, in one transaction or a series of transactions with an interested stockholder of assets of the corporation:

| ● | having                                                                                                        
 an aggregate market value equal to 5% or more of the aggregate market value of the assets of the corporation; |

| ● | having                                                                                                                       
 an aggregate market value equal to 5% or more of the aggregate market value of all outstanding shares of the corporation; or |

| ● | representing                                                       
 10% or more of the earning power or net income of the corporation. |

Pelthos’ articles of incorporation expressly include a provision by which the combined company elects to opt out of these provisions if and when Pelthos becomes a “resident domestic corporation” (as defined in NRS Section 78.427).

<div align='center'>41</div>

Anti-Takeover Effects of Certain Provisions of our Charter and Bylaws

Pelthos’ articles of incorporation provide that directors may be removed by the stockholders with or without cause upon the vote of a majority of the