Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 437

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 437
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, and should be read in conjunction with:

LNHC (as adjusted) in the unaudited pro forma condensed combined balance sheet as of December 31, 2024 is derived from the pro forma balance sheet information, as presented in Note 5, which reflects the historical balance sheet of LNHC, inclusive of the Ligand Bridge Loan, PIPE Investor Bridge Loans and IP Assignment, on a pro forma basis as if the transactions had been consummated on December 31, 2024. Similarly, LNHC (as adjusted) in the unaudited pro forma condensed combined statements of operations for the year ended December 31, 2024 are derived from the pro forma statement of operation information, as presented in Note 5, which reflects the historical statement of operations of LNHC, inclusive of the Ligand Bridge Loan, PIPE Investor Bridge Loans and IP Assignment, on a pro forma basis as if the transactions had been consummated on January 1, 2024. Assumptions and estimates underlying the unaudited pro forma adjustments included in the unaudited pro forma condensed combined financial statements are described in the accompanying notes. The unaudited pro forma

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adjustments are based on available preliminary information and certain assumptions that management believes are reasonable under the circumstances. The unaudited pro forma condensed combined financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results and financial position that would have been achieved had the Merger and PIPE Financing occurred on the dates indicated. The actual financial position and results of operations may differ materially from the information presented in these unaudited pro forma condensed combined financial statements as a result of changes in the fair value per share of Channel Series A Preferred Stock, the timing of the closing of the Merger, and other changes in LNHC assets and liabilities that occur prior to the completion of the Merger. The unaudited pro forma condensed combined financial statements, including the notes thereto, should be read in conjunction with the separate Channel and LNHC historical financial statements included elsewhere or incorporated by reference in this information statement. Note 2 – Accounting Policies and Reclassifications During the preparation of the unaudited pro forma condensed combined financial statements, Channel performed a preliminary analysis to identify differences in LNHC’s and Channel’s historical financial statement presentation and significant accounting policies. Based on its initial analysis, Channel did not identify any differences in accounting policies that would have a material impact on the unaudited pro forma condensed combined financial information.