---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-25-001055"
form_type: "8-K"
ticker: "PTHS"
cik: "0001919246"
company_name: "Pelthos Therapeutics Inc."
filed_at: "2025-07-02T23:59:59+00:00"
generated_at: "2026-05-18T09:42:21.828423+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001753926-25-001055
- form_type: 8-K
- ticker: PTHS
- cik: 0001919246
- company_name: Pelthos Therapeutics Inc.
- filed_at: 2025-07-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1919246/000175392625001055/0001753926-25-001055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1919246/000175392625001055/g084856_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-25-001055
- JSON: https://secwatch.observer/filing/0001753926-25-001055.json
- Plain text: https://secwatch.observer/filing/0001753926-25-001055.txt

## Key facts
- Governance Changes
  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
  source text: the Company effected the Reverse Stock Split pursuant to the Reverse Stock Split Certificate of Amendment.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1919246/000175392625001055/0001753926-25-001055-index.htm
- Governance Changes
  Pelthos Therapeutics Inc.: Company changed name from Channel Therapeutics Corporation to Pelthos Therapeutics, Inc.
  - Change: charter amendment
  source text: the Company changed its name from “Channel Therapeutics Corporation” to “Pelthos Therapeutics, Inc.” pursuant to the Name Change Certificate of Amendment.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1919246/000175392625001055/0001753926-25-001055-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.