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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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Pelthos Therapeutics Inc.: Company effected a reverse stock split at a 1:10 ratio effective July 1, 2025 (effective 2025-07-01).

Effective: 2025-07-01

Exact text from the filing

the Company effected the Reverse Stock Split pursuant to the Reverse Stock Split Certificate of Amendment.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Pelthos Therapeutics Inc.: Company changed name from Channel Therapeutics Corporation to Pelthos Therapeutics, Inc.

Change: charter amendment

Exact text from the filing

the Company changed its name from “Channel Therapeutics Corporation” to “Pelthos Therapeutics, Inc.” pursuant to the Name Change Certificate of Amendment.

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13 governance changes filed in the last 30 days. Browse all governance changes →

Pelthos Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001753926-25-001055

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