Pelthos secures up to $50M senior secured term loan from Horizon; $30M drawn at close

Pelthos Therapeutics Inc.

Up to $50M senior secured term loan facility from Horizon Technology Finance; $30M funded at closing on Jan 12, 2026.
Remaining $20M available upon achieving milestones; interest rate prime +3.75% (currently 10.50%) with 6.75% floor.
Proceeds to commercialize ZELSUVMI, launch Xepi and Xeglyze, and for working capital.
Issued warrants for 65,488 shares at $27.49 per share to Horizon; loan matures Jan 31, 2031.
As of Sept 30, 2025, cash and investments $14.2M; augmented by $18M convertible notes in Nov 2025.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Pelthos Therapeutics Inc. entered into Venture Loan and Security Agreement with Horizon Technology Finance Corporation valued at aggregate principal amount of up to $50.0 million (effective 2026-01-12).

Action: entry
Agreement: credit facility
Counterparty: Horizon Technology Finance Corporation
Value: aggregate principal amount of up to $50.0 million
Effective: 2026-01-12

Exact text from the filing

On January 12, 2026 (the “ Closing Date ”), Pelthos Therapeutics Inc., a Nevada corporation (the “ Company ”), LNHC, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“ LNHC ”) and Channel Pharmaceutical Corporation, a Nevada corporation and a wholly subsidiary of the Company (“ Channel ”), as co-borrowers (together with the Company, the “ Borrowers ”), entered into a Venture Loan and Security Agreement (the “ Loan Agreement ”) by and among the Borrowers and Horizon Technology Finance Corporation, a Delaware corporation, as lender and collateral agent (the “ Lender ”).

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Pelthos Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001753926-26-000097

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