Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 20

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 net proceeds from the IPO were approximately $5.9 million after deducting approximately $0.9 million of
underwriting discounts and commissions and offering expenses.

Stock
Split

On
February 15, 2024, the Company effected a 9-for-1 reverse stock split. All share and per share amounts have been retrospectively
adjusted for the reverse stock split, see Note 9.

On
July 1, 2025, the Company effected a 10-for-1 reverse stock split. All share and per share amounts have been retrospectively
adjusted for the reverse stock split.

2023
Plan Amendment

On
June 12, 2024, the Board authorized an amendment to the Pelthos Therapeutics Inc. 2023 Equity Incentive Plan (the “2023
Plan”) to increase the number of shares of Common Stock authorized for issuance thereunder by 150,000 from 44,444 shares
to 194,444 shares. On October 22, 2024, the 2023 Plan Amendment was approved by the affirmative vote of a majority
of the outstanding shares of Common Stock present in person, by remote communication, if applicable, or represented by proxy at
the Annual Meeting. On April 16, 2025, pursuant to a written consent of the majority of shareholders of the Company, the number
of shares authorized for issuance under the 2023 Plan was increased to 2,400,000 shares. The Company’s board of directors
approved the increase to the 2023 Plan on June 26, 2025.

Stock
Recission Agreement

On
February 10, 2024, the Company entered into a Stock Rescission Agreement with certain affiliates of A.G.P. (the “Stock Recission
Agreement”) pursuant to which the Company rescinded 11,113 shares of Common Stock held by such affiliates of A.G.P.
and agreed to refund an aggregate of $91,512 paid by such affiliates of A.G.P. in consideration therefor within 30 days of
the effective date of the Stock Rescission Agreement. At June 30, 2025 and December 31, 2024, all such amounts have been paid
pursuant to the Representative Affiliate Transactions and there are no remaining obligations thereto.

Equity
Issuances

On
June 12, 2024, the Company entered into a