Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 778

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 778
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 related thereto and contemplated thereby and the other transactions contemplated by the Merger Agreement and the Financing Documents; |

| (iv) | recommended the adoption and approval of the Merger Agreement, Financing Documents, the Series A Certificate of Designations, any Reverse Stock Split the Share Issuances, the Amended and Restated 2023 Plan and the Certificate of Amendment by the Company Stockholders upon the terms and conditions set forth in the Merger Agreement and the Financing Documents; and |

| (v) | approved, under Section 2.10 of the Bylaws, the approval and adoption of the Merger Agreement, the Financing Documents, any Reverse Stock Split, the Share Issuances the Series A Certificate of Designations, the Amended and Restated 2023 Plan and the Certificate of Amendment by written consent and without a meeting; |

WHEREAS , the Company has previously entered into that certain Promissory Note, dated as of May 10, 2024, between the Company and Camden Capital LLC (“Camden ”) in the aggregate principal amount of $131,867.81 (the “Camden Note ”); WHEREAS , the Consenting Stockholders, upon the recommendation of the Board, deem it advisable and in the best interests of the Company and the Company Stockholders to offer to Camden the right to convert $100,000 of the unpaid principal amount of the Camden Note into Series A Preferred Shares as part of the Financing, subject to Camden entering into each of the Financing Documents (the “Camden Note Conversion ”); WHEREAS , pursuant to Section 92A.120 of the NRS, the Merger Agreement must be adopted by the holders of a majority of the issued and outstanding Common Stock, voting together as a single class representing a majority of all votes entitled to be cast on such matter;

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WHEREAS , as of the date hereof, the Consenting Stockholders collectively beneficially own and have sole (or share only with another Consenting Stockholder) voting power over 3,996,296 shares of Company Common Stock (prior to giving effect to any Reverse Stock Split), representing approximately 65.47% of the aggregate voting power of the issued and outstanding shares of Company Common Stock (prior to giving effect to any Reverse Stock Split), as set forth on Exhibit G ; and

WHEREAS , pursuant to Section 78.320 of the NRS and Section 2.10 of the Bylaws the Company Stockholders may act by