Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 110

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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 (i) 30 calendar days following the closing of the PIPE Financing
and (ii) fifteen (15) calendar days after the Company’s next periodic report required pursuant to Section 13 of the Exchange
Act. The Company is obligated to use reasonable best efforts to cause this registration statement to be declared effective by
the SEC within 120 calendar days following the closing of the PIPE Financing (or within 150 calendar days following the closing
of the PIPE Financing if the SEC reviews the registration statement).

The
Company will, among other things, indemnify the PIPE Investors, their directors, officers, shareholders, members, partners, employees,
agents, advisors and representatives of the foregoing and each person who controls the PIPE Investors (a) under the registration
statement, including from certain liabilities and fees and expenses (excluding underwriting discounts and selling commissions
and all legal fees and expenses of legal counsel for any selling holder) and (b) under the Securities Purchase Agreement, including
with respect to breaches of the Company’s representations, warranties, and covenants under the Securities Purchase Agreement.

Contribution
Agreement and IP Assignment and Assumption Agreement

On
July 1, 2025 (the “Contribution Date”), the Company entered into a Contribution Agreement (the “Contribution
Agreement”) with Channel Pharmaceutical Corporation, a Nevada corporation (“Pharmaceutical Sub”) - a newly formed,
wholly-owned subsidiary of the Company. Pursuant to the terms of the Contribution Agreement, the Company contributed to Pharmaceutical
Sub certain assets associated with non-opioid, non-addictive therapeutics to alleviate pain, and owns certain patents and “Know
How” (as defined in the Contribution Agreement) and other technology relating to the sodium ion-channel known as NaV1.7
for the treatment of various types of systemic chronic pain, acute and chronic eye pain and post-surgical nerve blocks (collectively,
the “Intellectual Property Rights”) and certain other assets related thereto (collectively, the “Transferred
Assets”).

Pharmaceutical
Sub accepted the Transferred Assets as of the Contribution Date. In exchange for the Transferred Assets, Pharmaceutical Sub issued
to the Company 100 shares of Pharmaceutical Sub’s common stock. After the above contribution, Pharmaceutical Sub may engage
in licensing, developing and commercializing the Intellectual Property Rights.

In
connection with the Contribution Agreement, on July 1, 2025, the Company, as assignor, entered into an Intellectual Property Assignment
and Assumption Agreement