Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 444

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 444
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939 |
| Total liabilities                                   |     |        26,935 |     |      12,619 |     |      |     |        39,554 |

253

TABLE OF CONTENTS

|                                             |     |    Historical 
      LNHC Inc 
 (As Reported) |     | Transaction 
 Adjustments 
    (Note 5) |     | Note |     |      LNHC Inc 
 (As Adjusted) |
| Commitments and contingencies               |     |               |     |             |     |      |     |               |
| Parent company net investment               |     |        10,425 |     |      -9,802 |     | 5(c) |     |        -5,996 |
|                                             |     |               |     |      -6,619 |     | 5(a) |     |               |
| Total stockholders’ deficit                 |     |        10,425 |     |     -16,421 |     |      |     |        -5,996 |
| Total liabilities and stockholders’ deficit |     |       $37,360 |     |      -3,802 |     |      |     |       $33,558 |

5(a) Reflects the issuance of the Ligand Bridge Loan, which was funded through the settlement of $6.6 million of LNHC expenses directly by Ligand, which was reflected as an adjustment to parent company net investment. 5(b) Reflects the cash proceeds received from the PIPE Investor Bridge Loans as executed on April 16, 2025 with two PIPE investors. 5(c) Reflects the elimination of intangible assets as a result of the assignment of LNHC’s IP Portfolio to Ligand in the IP Assignment. The adjustments to reflect the effects of the Ligand Bridge Loan, PIPE Investor Bridge Loans and IP Assignment on LNHC’s historical audited consolidated statement of operations for the year ended December 31, 2024 are summarized as follows:

|                                            |     |    Historical 
      LNHC Inc 
 (As Reported) |     | Transaction 
 Adjustments 
    (Note 5) |     | Note |     |      LNHC Inc 
 (As Adjusted) |
| Revenues                                   |     |          $876 |     |             |     |      |     |          $876 |
| Operating expenses:                        |     |               |     |             |     |      |     |               |
| Research and development                   |