Pelthos Therapeutics closes merger with LNHC, raises $50.1M PIPE

Pelthos Therapeutics Inc.

Closed merger with LNHC (Ligand subsidiary) on July 1, 2025; LNHC shareholders own ~55.8% on fully diluted basis.
Raised ~$50.1M in PIPE financing via Series A Preferred Stock at $1,000/share; Ligand participated.
Effected 1-for-10 reverse stock split and changed name to Pelthos Therapeutics; ticker changes to PTHS on NYSE American.
Appointed Scott Plesha as CEO/President; Francis Knuettel remains CFO; added four new directors to board.
Entered royalty sale agreements for ZELSUVMI and other products with Nomis, Ligand, and Madison.

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