Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 98

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 which, upon the terms and subject to the satisfaction of the conditions contained in the CEF Purchase Agreement, Tikkun has
committed to purchase, at the Company’s direction in its sole discretion, up to an aggregate of $30,000,000 (the “Total
Commitment”) of the shares of Common Stock (the “Purchase Shares”), subject to certain limitations set forth
in the CEF Purchase Agreement, from time to time during the term of the CEF Purchase Agreement. Concurrently with the execution
of the CEF Purchase Agreement, the Company and Tikkun also entered into a Registration Rights Agreement, dated as of July 26,
2024, pursuant to which the Company agreed to file with the SEC one or more registration statements, to register under the Securities
Act, the offer and resale by Tikkun of all of the Purchase Shares that may be issued and sold by the Company to Tikkun from time
to time under the CEF Purchase Agreement. On October 2, 2024, the Company tendered 7,632 shares to Tikkun for $45,638 and on October
18, 2024, the Company tendered 7,965 shares to Tikkun for $62,890.

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Stock
Repurchase Plan

On
August 5, 2024, the Board authorized a stock repurchase plan (the “Repurchase Plan”) pursuant to which up to $250,000 of
the Company’s Common Stock may be repurchased prior to December 31, 2024, unless completed sooner or otherwise extended.
During the three and six months ended June 30, 2025, the Company repurchased 0 shares of Common Stock. Open market purchases
are intended to be conducted in accordance with applicable Securities and Exchange Commission regulations, including the guidelines
and conditions of Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
The timing and actual number of shares repurchased will depend on a variety of factors including trading price, the Company’s
financial performance, corporate and regulatory requirements and other market conditions.

Repurchase
Plan Amendment

On
October 22, 2024, the Board authorized an amendment (the “Amendment”) to the Repurchase Plan to increase the total
value of shares of Common Stock available for repurchase by the Company under the Repurchase Plan by an additional $500