Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 336

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 336
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 take advantage of these provisions for up to five years or such earlier time that Channel no longer qualifies as an emerging growth company. Channel would cease to be an emerging growth company upon the earliest of:

| • | the last day of the fiscal year on which Channel has $1.235 billion or more in annual revenue, |

| • | the date on which Channel becomes a “large accelerated filer” (i.e., as of its fiscal year end, the total market value of its common equity securities held by non-affiliates is $700 million or more as of June 30), |

| • | the date on which Channel issues more than $1.0 billion of non-convertible debt over a three-year period, or |

| • | the last day of its fiscal year following the fifth anniversary of the date of the completion of its IPO. |

Channel may choose to take advantage of some but not all of these reduced reporting burdens. In addition, under the JOBS Act, emerging growth companies can take advantage of an extended transition period and delay adopting new or revised accounting standards until such time as those standards apply to private companies. Channel has elected to use this extended transition period and, as a result, Channel will adopt new or

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revised accounting standards on the relevant dates on which adoption of such standards is required for private companies. If Channel was to subsequently elect instead to comply with public company effective dates, such election would be irrevocable pursuant to the JOBS Act.

Also, Channel is a “smaller reporting company” (and may continue to qualify as such even after Channel no longer qualifies as an emerging growth company). For as long as Channel qualifies as a “smaller reporting company,” Channel may provide reduced disclosure in the public filings that Channel makes with the U.S. Securities and Exchange Commission (the “SEC”) than larger public companies, such as the inclusion of only two years of audited financial statements and only two years of management’s discussion and analysis of financial condition and results of operations disclosure.

As a result of qualifying as an emerging growth company and a smaller reporting company, to the extent Channel takes advantage of the allowable reduced reporting burdens, the information that Channel provides to its stockholders may be different than what you might receive from other public reporting companies in which you hold equity interests.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF CHANNEL You