Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 539

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 539
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3, respectively. Predecessor’s rent expense was $301 for the period from January 1, 2023 to September 27, 2023. Cash paid for amounts included in the measurement of operating lease liabilities was $626 and $154, respectively, for the year ended December 31, 2024 and for the period from September 28, 2023 to December 31, 2023. Cash paid for amounts included in the measurement of operating lease liabilities was $454 for the period from January 1, 2023 to September 27, 2023. The weighted average remaining lease term for the TBC Lease and weighted average discount rate for the TBC Lease are 7.1 years and 8.4%, respectively, as of December 31, 2024.

F-47

TABLE OF CONTENTS

Future minimum lease payments as of December 31, 2024, were as follows:

| Maturity of Lease Liabilities            |     | Operating 
    Leases |
| 2025                                     |     |      $645 |
| 2026                                     |     |       665 |
| 2027                                     |     |       685 |
| 2028                                     |     |       705 |
| 2029                                     |     |       726 |
| 2030 and beyond                          |     |     1,583 |
| Total future undiscounted lease payments |     |     5,009 |
| Less: imputed interest                   |     |    -1,275 |
| Total reported lease liability           |     |    $3,734 |

9. Income Taxes For Federal and State tax reporting purposes, LNHC is a member of Ligand and Novan consolidated reporting group during the Successor and Predecessor reporting period, respectively. The basis of presentation for these financial statements is on a separate standalone basis as if the LNHC was not a member of a consolidated group and operating as an independent entity. Settlements of tax balances that differ from the separate entity computations are treated as either increases or decreases in equity. There were no settlements of tax balances between the entity and the parent during the periods presented. A reconciliation of income tax benefit to the amount computed by applying the statutory federal income tax rate to the net loss is summarized as follows (in thousands):

|                                                 |     |         2024 |     |            2023 |     |              |
|                                                 |     |    Successor |     |       Successor