Company: PTHS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001753926-25-001764
Chunk: 15

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 funding provided to the Company as of the Merger Closing Date as part of the PIPE
Financing. In addition, on April 16, 2025, LNHC entered into a bridge loan agreement with two third-party lenders, part of the
group of strategic investors who participated in the PIPE Financing, for an aggregate amount, including interest, of $6,053. This
loan reduced their funding commitment with respect to the Merger transaction. In addition, as part of the Merger closing a settlement
of a related party note of $100 also occurred.

    10

The
following are details of the Merger and PIPE Financing as it relates to Series A Preferred Stock and proceeds from the PIPE Financing:

Schedule
of Series A Preferred Stock and Proceeds from PIPE Financing 

    Series A Preferred Shares Issued  
    Allocated Gross Proceeds  
    Notes Settlement  
    Payables Settlement and Expenses  
    Net Proceeds 

    Beginning Balance as of July 1, 2025 
     —  
    $—  
    $—  
    $—  
    $— 

    Preferred Stock (Series A) Issued - Merger 
     31,278  
     —  
     —  
     —  
     — 

    Preferred Stock (Series A) Issued - PIPE Financing 
     50,100  
     50,100  
     (20,340) 
     (2,376) 
     27,384 

    Preferred Stock (Series A) Converted to Common Stock 
     (23,810) 
     —  
     —  
     —  
     — 

    Ending Balance as of July 1, 2025 
     57,568  
    $50,100  
    $(20,340) 
    $(2,376) 
    $27,384 

NOTE
2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted
accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the
rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of the Company’s
management, the accompanying unaudited condensed