Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Pelthos Therapeutics Inc. incurred convertible notes of $18.0 million with Investors, including Ligand Pharmaceuticals Incorporated at 8.5% per annum (increases to 18.0% in the event of default) maturing November 6, 2027.
- Instrument
- convertible notes
- Principal
- $18.0 million
- Counterparty
- Investors, including Ligand Pharmaceuticals Incorporated
- Rate
- 8.5% per annum (increases to 18.0% in the event of default)
- Maturity
- November 6, 2027
- Event
- incurrence
Exact text from the filing
On November 6, 2025, Pelthos Therapeutics Inc., a Nevada corporation (the “ Company ”), entered into a securities purchase agreement (the “ Securities Purchase Agreement ”) with certain investors, including Ligand Pharmaceuticals Incorporated, a Delaware corporation (“ Ligand ”) (collectively, the “ Investors ”), pursuant to which, among other things, on the Closing Date, the Investors purchased for cash, and the Company issued and sold to the Investors, senior secured convertible notes of the Company (the “ Convertible Notes ”) in the aggregate original principal amount of $18.0 million, which are convertible into shares of the Company’s common stock, par value $0.0001 per share (the “ Common Stock ”) (such transaction, the “ Convertible Note Financing ”).
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.98
Pelthos Therapeutics Inc. issued $18.0 million aggregate original principal amount of senior secured convertible notes convertible into shares of common stock at $34.442 per share of convertible note to certain investors including Ligand Pharmaceuticals Incorporated for cash gross proceeds of approximately $18.0 million, plus a 5.0% royalty on net sales of Xepi and the right to receive Sato Payments.
- Security
- convertible note
- Shares
- $18.0 million aggregate original principal amount of senior secured convertible notes convertible into shares of common stock at $34.442 per share
- Purchaser
- certain investors including Ligand Pharmaceuticals Incorporated
- Consideration
- cash gross proceeds of approximately $18.0 million, plus a 5.0% royalty on net sales of Xepi and the right to receive Sato Payments
Exact text from the filing
On November 6, 2025, Pelthos Therapeutics Inc., a Nevada corporation (the “ Company ”), entered into a securities purchase agreement (the “ Securities Purchase Agreement ”) with certain investors, including Ligand Pharmaceuticals Incorporated, a Delaware corporation (“ Ligand ”) (collectively, the “ Investors ”), pursuant to which, among other things, on the Closing Date, the Investors purchased for cash, and the Company issued and sold to the Investors, senior secured convertible notes of the Company (the “ Convertible Notes ”) in the aggregate original principal amount of $18.0 million, which are convertible into shares of the Company’s common stock, par value $0.0001 per share (the “ Common Stock ”) (such transaction, the “ Convertible Note Financing ”).
View on SEC.gov