Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 439

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 439
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 |         $39,815 |
| 10% increase |     |           $1,386 |     |         $43,797 |
| 10% decrease |     |           $1,134 |     |         $35,834 |

Any change to the estimated total merger consideration is expected to be assigned primarily to goodwill. Preliminary Purchase Price Allocation Under the acquisition method of accounting in accordance with ASC 805, LNHC’s identifiable assets acquired and liabilities assumed by Channel are expected to be recorded at their acquisition-date fair value and combined with the assets and liabilities of Channel. The pro forma purchase price allocation is preliminary and the estimated fair value of the assets acquired and liabilities assumed are based upon available information and certain assumptions, which Channel believes are reasonable to illustrate the estimated effects of the merger. The fair value of certain assets and liabilities are estimated to approximate their book values, thus no adjustments are reflected. The final determination of the purchase price allocation will be completed as soon as practicable after the completion of the merger and will be based on the fair value of the assets acquired and liabilities assumed as of the closing date. Accordingly, the pro forma purchase price allocation is subject to further adjustment as additional information becomes available and as additional analyses and final valuations are completed. There can be no assurances that these additional analyses and final valuations will not result in material changes to the estimates of fair value set forth below. The following table sets forth a preliminary allocation of the estimated merger consideration to LNHC’s identifiable tangible and intangible assets expected to be acquired and liabilities expected to be assumed by Channel, as if the Merger had been completed on December 31, 2024 (in thousands):

| Estimated total consideration transferred                        |     | $​39,815 |
| Estimated fair value of assets acquired and liabilities assumed: |     |          |
| Cash and cash equivalents                                        |     |    6,000 |
| Inventory                                                        |     |   16,683 |
| Prepaid expenses and other current assets                        |     |      798 |
| Intangible assets                                                |     |   31,450 |
| Property and equipment                                           |     |   11,483 |
| Operating lease right-of-use assets                              |     |    3,734 |
| Other assets                                                     |     |      501 |
| Accounts payable and accrued expenses                            |     |   -3,753 |
| Operating lease liabilities, current portion                     |     |     -617 |
| Deferred revenue, current portion                                |     |