Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 284

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 284
---
ended and Restated 2023 Plan, the number of shares of Channel common stock underlying outstanding awards (including RSAs and RSUs), and other terms of outstanding awards issued pursuant to the Amended and Restated 2023 Plan to equitably reflect the effects of the Reverse Stock Split. Based upon the Reverse Stock Split ratio determined by the Channel board of directors, proportionate adjustments are also generally required to be made to the per share exercise or conversion prices, as applicable, and the number of shares of Channel common stock issuable upon the exercise or conversion, as applicable, of outstanding convertible or exchangeable securities that may entitle the holders thereof to purchase, exchange for, or convert into, shares of Channel common stock. This would result in approximately the same aggregate price being required to be paid under such outstanding convertible or exchangeable securities upon exercise or conversion, as applicable, and approximately the same value of shares of Channel common stock being delivered upon such exercise, exchange or conversion, immediately following the Reverse Stock Split as was the case immediately preceding the Reverse Stock Split. The number of shares of Channel common stock subject to RSAs and RSUs will be similarly adjusted, subject to Channel’s treatment of fractional shares of Channel common stock. The number of shares of Channel common stock reserved for issuance pursuant to these securities and the Amended and Restated 2023 Plan will be adjusted proportionately based upon the Reverse Stock Split ratio determined by the Channel board of directors, subject to Channel’s treatment of fractional shares of Channel common stock.

Effect on Certain Warrants. With respect to Channel’s outstanding common stock purchase warrants, dated February 21, 2024 (the “February 2024 Warrants”), the exercise price of such warrants may be adjusted upon the occurrence of any reverse stock split involving the shares of Channel common stock (including the Reverse Stock Split). The Exercise Price (as defined in the February 2024 Warrants”) shall be multiplied by a fraction of which the numerator shall be the number of shares of Channel common stock outstanding immediately before the Reverse Stock Split and of which the denominator shall be the number of shares of Channel common stock outstanding immediately after the Reverse Stock Split. The adjustment to the Exercise Price of the February 2024 Warrants will become effective immediately after the effective date of the Reverse Stock Split.

Listing. Shares of Channel common stock currently trade on The NYSE American. The Reverse Stock Split will directly affect the listing of Channel common stock on The NYSE American, and Channel believes that the Reverse Stock Split could potentially increase Channel’s