Pelthos Therapeutics Inc. (PTHS) Form SCHEDULE 13D/A — Nov 3, 2026
Ligand Pharmaceuticals filed Amendment No. 2 to its Schedule 13D on Pelthos Therapeutics, disclosing a $33.75 million agreement to buy 33,750 shares of Series B Convertible Preferred (conversion price $19.67) plus penny warrants on 291,688 shares, as part of Pelthos' $57.5 million-plus Concurrent Financing. Concurrently, Pelthos signed a Merger Agreement to acquire Castle Creek Biosciences, whose holders will receive 5.2 million shares (~32.5% of Pelthos fully diluted pre-financing) plus contingent cash, FDA milestone shares for D-Fi, and 80% of any priority review voucher proceeds.
Key figures
- Deal Value Usd
- 33750000
- Shares Outstanding
- 3931829
- Outside Date
- 2027-02-01
- Warrant Shares
- 291688
- Board Size Change
- 8 to 10
- Common Percent Owned
- 38.2%
- Ligand Percent Owned
- 49.9%
- Series BStated Value
- 1000
- Bridge Note Principal
- 3675000
- Series APercent Owned
- 66.6%
- Warrant Exercise Price
- 0.0001
- Series BConversion Price
- 19.67
- Series BShares Purchased
- 33750
- Cash Portion Of Investment
- 30075000
- Castle Creek Merger Shares
- 5200000
- Existing Stake Post Merger
- 67.5%
- Ligand Common Shares Owned
- 1500000
- Convertible Note Principal
- 9000000
- Minimum Financing Proceeds
- 57500000
- Castle Creek Fully Diluted Stake
- 32.5%
- Series BVoting Conversion Price
- 16.54
- Notes Permitted Credit Facility Increase
- $50.0M to $80.0M
AI analysis
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