Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 208

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 208
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, (iv) the fairness of any portion or aspect of the Merger Agreement to any one class or group of LNHC’s, Channel’s, or any other party’s security holders or other constituents vis-à-vis any other class or group of Channel’s or such other party’s security holders or other constituents (including, without limitation, the allocation of any consideration amongst or within such classes or groups of security holders or other constituents), (v) whether or not Channel, its security holders or any other party to the Merger Agreement is receiving or paying reasonably equivalent value in the Merger Agreement, (vi) the solvency, creditworthiness or fair value of LNHC or any other party to the Merger Agreement, or any of their respective assets, under any applicable laws relating to bankruptcy, insolvency, fraudulent conveyance or similar matters, or (vii) the fairness, financial or otherwise, of the amount, nature or any other aspect of any compensation to or consideration payable to or received by any officers, directors or employees of any party to the Merger Agreement, any class of such persons or any other party, relative to the Merger Partner Valuation or otherwise. Furthermore, no opinion, counsel or interpretation was intended in matters that require legal, regulatory, accounting, tax or other similar professional advice. M&N Sarchet assumed that such opinions, counsel or interpretations had been or will have been obtained from the appropriate professional sources. Furthermore, M&N Sarchet relied, with the consent of the Special Committee and the Channel board of directors, on the assessments by the Special Committee and the Channel board of directors, and its advisors, as to all legal, regulatory, accounting, tax and other similar matters with respect to LNHC and the Merger Agreement or otherwise.

The Fairness Opinion was provided to the Special Committee and the Channel board of directors in connection with its evaluation of the Merger and was only one of many factors considered by the Special Committee and the Channel board of directors in evaluating the Merger. Neither the Fairness Opinion nor its analyses were determinative of the Merger Partner Valuation or of the views of the Special Committee, the Channel board of directors or Channel management with respect to the Merger. The Merger Partner Valuation was determined through negotiation between Channel and LNHC, and the decision for Channel to enter into the Merger Agreement was solely that of the Channel board of directors, upon the recommendation of the Special Committee.

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