Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 289

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 289
---
 Split shares of Channel common stock surrendered.

#### Accounting Consequences
Following the Reverse Stock Split Effective Date, if any, the net income or loss and net book value per share of Channel common stock will be increased because there will be fewer shares of Channel common stock outstanding. Channel does not anticipate that any other accounting consequences would arise as a result of the Reverse Stock Split.

#### Exchange of Stock Certificates
As of the Reverse Stock Split Effective Date, each certificate representing shares of Channel common stock outstanding before the Reverse Stock Split will be deemed, for all corporate purposes, to evidence ownership of the reduced number of shares of Channel common stock resulting from the Reverse Stock Split. All shares of Channel common stock underlying options, warrants, preferred stock and other securities exchangeable or exercisable for or convertible into Channel common stock also automatically will be adjusted on the Reverse Stock Split Effective Date.

Our transfer agent, Nevada Agency and Transfer Company, will act as the exchange agent for purposes of exchanging stock certificates subsequent to the Reverse Stock Split. Shortly after the Reverse Stock Split Effective Date, stockholders of record will receive written instructions requesting them to complete and return a letter of transmittal and surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the Reverse Stock Split. Certificates representing shares of Channel common stock issued in connection with the Reverse Stock Split will continue to bear the same restrictive legends, if any, that were borne by the surrendered certificates representing the shares of Channel common stock outstanding prior to the Reverse Stock Split. No new certificates will be issued until such stockholder has surrendered any outstanding certificates, together

<div align='center'>160</div>

TABLE OF CONTENTS

with the properly completed and executed letter of transmittal, to the exchange agent. Until surrendered, each certificate representing shares of Channel common stock outstanding before the Reverse Stock Split would continue to be valid and would represent the adjusted number of shares of Channel common stock, based on the ratio of the Reverse Stock Split. Any stockholder whose stock certificates are lost, destroyed or stolen will be entitled to a new certificate or certificates representing post-Reverse Stock Split shares of Channel common stock upon compliance with the requirements that Channel and its transfer agent customarily apply in connection with lost, destroyed or stolen certificates. Instructions as to lost, destroyed or stolen certificates will be included in the letter of instructions from the exchange agent. Upon the Reverse Stock Split, Channel intends to treat stockholders holding Channel common stock in “street name,” through a bank, broker or other nominee, in the same