Company: PTHS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001753926-25-000790
Chunk: 81

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 81
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ii) the issuance of the Common
Stock and the amendment to the Company’s articles of incorporation to change the name of the Company to “Pelthos Therapeutics
Inc.” having been approved and ratified, respectively, by means of the written consent by the requisite consent of the Company
stockholders under applicable law and the NYSE American regulations, (iii) no governmental entity of competent jurisdiction having
enacted, issued, promulgated, enforced or entered any order, executive order, stay, decree, judgment or injunction (preliminary
or permanent) or statute, rule or regulation which is in effect and which has the effect of making the Merger illegal or otherwise
prohibiting consummation of the Merger, (iv) the approval of the listing of the additional shares of Common Stock issuable upon
conversion of the Series A Preferred Stock on the NYSE American having been obtained and the shares of Common Stock issuable upon
conversion of the Series A Preferred Stock to be issued in the Merger pursuant to the Merger Agreement having been approved for
listing, subject to official notice of issuance, on the NYSE American; (v) entry into the Royalty Agreements (as defined in therein),
and (vi) the PIPE Financing having been consummated or being consummated concurrently with the closing of the Merger or immediately
before the closing of the Merger in accordance with the terms of the Securities Purchase Agreement (as defined below). Each party’s
obligation to consummate the Merger is also subject to other specified customary conditions, including the representations and
warranties of the other party being true and correct as of the date of the Merger Agreement and as of the closing date of the
Merger, generally subject to an overall material adverse effect qualification, the performance in all material respects by the
other party of its obligations under the Merger Agreement required to be performed on or prior to the date of the closing of the
Merger, and the absence of any material adverse effect affecting the other party that is continuing on the closing date.

The
Merger Agreement contains certain termination rights of each of the Company and LNHC, including, subject to compliance with the
applicable terms of the Merger Agreement, the right of each party to terminate the Merger Agreement if the other party exercises
its “fiduciary out” prior to receiving the requisite stockholder consent. All fees and expenses incurred in connection
with the Merger Agreement and the other transactions contemplated