Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 252

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 252
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 leases requested by a lessor thereunder to the extent such guaranty is conditioned on the occurrence of the closing of the Merger and effective at or after the Effective Time; and |

| • | Subject to the terms hereof, Channel and LNHC shall, and shall cause their respective subsidiaries to negotiate in good faith and agree on (i) the final form of ZELSUVMI Royalty Agreement between LNHC and Nomis Bay, (ii) the final form of a CHRO Ligand Legacy Product Royalty Agreement between Channel and Ligand, (iii) the final form of a CHRO Nomis Bay Legacy Product Royalty Agreement between Channel and Nomis Bay, and (iv) the final form of a CHRO Management Legacy Product Royalty Agreement between Channel and those other persons signatory thereto, in each case in substantially the form attached to the Purchase Agreement with such modifications as Channel, LNHC and the other parties thereto may mutually agree, in order to satisfy the conditions to consummation of the PIPE Financing as set forth in the Purchase Agreement. |

Pursuant to the Merger Agreement, Channel and LNHC have further agreed that:

| • | Channel will use its commercially reasonable efforts, and shall take all reasonably necessary actions, to continue the listing of Channel common stock on The NYSE American during the term of the Merger Agreement (through and until the Effective Time) and to cause the shares of Channel common stock being issued in the Merger to be approved for listing, subject to official notice of issuance, on The NYSE American at or prior to the Effective Time; and |

| • | LNHC will cooperate with Channel with respect to the listing application for the Channel common stock and promptly furnish to Channel all information concerning LNHC and its officers, directors and equityholders and such other matters that may be required or reasonably requested in connection with The NYSE American listing. |

Conditions to the Completion of the Merger The following contains a description of the material conditions to the completion of the Merger. Each party’s obligation to complete the Merger is subject to the satisfaction or waiver by each of the parties (to the extent permitted by law), at or prior to the closing, of various conditions, which include the following:

| • | the adoption of the Merger Agreement having been approved by means of written consents by the requisite consent of Ligand under applicable law and LNHC’s certificate of incorporation. The share issuance and the amendment to Channel’s articles of incorporation to change the name of Channel