Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 591

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 591
---
 TBC Lease. The TBC Landlord has agreed to provide the Company with a tenant improvement allowance in an amount not to exceed $130 per rentable square foot, totaling approximately $2,450, per the primary lease, inclusive of the first amendment, and $115 per rentable square foot, totaling $419, per the second amendment to the TBC Lease. Pursuant to the terms of the TBC Lease, the Company delivered to the TBC Landlord a letter of credit in the amount of $583, as amended, as collateral for the full performance by the Company of all of its obligations under the TBC Lease and for all losses and damages the TBC Landlord may suffer as a result of any default by the Company under the TBC Lease. Successor’s rent expense was $695 and $174 for the year ended December 31, 2024 and for the period from September 28, 2023 to December 31, 2023, respectively. Predecessor’s rent expense was $301 for the period from January 1, 2023 to September 27, 2023. Cash paid for amounts included in the measurement of operating lease liabilities was $626 and $154, respectively, for the year ended December 31, 2024 and for the period from September 28, 2023 to December 31, 2023. Cash paid for amounts included in the measurement of operating lease liabilities was $454 for the period from January 1, 2023 to September 27, 2023. The weighted average remaining lease term for the TBC Lease and weighted average discount rate for the TBC Lease are 7.1 years and 8.4%, respectively, as of December 31, 2024.

F-86

TABLE OF CONTENTS

Future minimum lease payments as of December 31, 2024, were as follows:

| Maturity of Lease Liabilities            |     | Operating 
    Leases |
| 2025                                     |     |      $645 |
| 2026                                     |     |       665 |
| 2027                                     |     |       685 |
| 2028                                     |     |       705 |
| 2029                                     |     |       726 |
| 2030 and beyond                          |     |     1,583 |
| Total future undiscounted lease payments |     |     5,009 |
| Less: imputed interest                   |     |    -