Company: DERM
Filing Date: 2025-08-28
Form Type: 424B3
Source: 0001104659-25-084876
Chunk: 36

Company: Journey Medical Corp
Filing Date: 2025-08-28
Form: 424B3
Chunk 36
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 the Class A Common Stock immediately prior to such reorganization, recapitalization, reclassification,
consolidation or merger would have been entitled to receive pursuant to such transaction.

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Blank-Check Preferred Stock; Authorized but Unissued Common Stock. Our Board is authorized to issue, without shareholder approval, preferred
stock, the rights of which will be determined at the discretion of our Board and that, if issued, could operate as a “poison pill”
to dilute the stock ownership of a potential hostile acquirer to prevent an acquisition that our Board does not approve. Further, the
existence of authorized but unissued shares of common stock and preferred stock could render more difficult or discourage an attempt to
obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

Anti-Takeover Provisions

Our Third Amended and Restated Certificate of
Incorporation and bylaws contain provisions that could delay or prevent a change in control of our Company. These provisions could also
make it difficult for stockholders to elect directors that are not nominated by the current members of our board of directors or take
other corporate actions, including effecting changes in our management. These provisions include certain provisions that:

| · | permit the board of directors to establish the number of directors and fill any vacancies and newly created 
 directorships;                                                                                              |

| · | provide that, after a removal for cause, vacancies on our board of directors             
 may be filled by a majority of directors then in office, even though less than a quorum; |

| · | prohibit cumulative voting in the election of directors; |

| · | require majority voting to amend our certificate of incorporation and bylaws; |

| · | authorize the issuance of “blank check” preferred stock that our board of directors could 
 use to implement a stockholder rights plan;                                               |

| · | restrict the forum for certain litigation against us to Delaware or federal courts; |

| · | establish advance notice requirements for nominations for election to our board of directors or for proposing 
 matters that can be acted upon by stockholders at annual stockholder meetings; and                            |

| · | bestow majority control of the stockholder vote to Fortress by virtue of their exclusive ownership of 
 our Class A Common Stock.                                                                             |

In addition, our credit facility
includes, and other debt instruments we may enter into in the future may include, provisions entitling the lenders to demand immediate
repayment of all borrowings upon