Ligand Pharmaceuticals Inc - Nov 6, 2025 Form 4 Insider Report for Pelthos Therapeutics Inc. (PTHS)

Role
Director, 10%+ Owner
Signature
/s/ Octavio Espinoza, Chief Financial Officer of Ligand Pharmaceuticals Incorporated
Stock symbol
PTHS
Transactions as of
Nov 6, 2025
Transactions value $
$9,000,000
Form type
4
Date filed
11/10/2025, 04:43 PM
Previous filing
Jul 3, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
LIGAND PHARMACEUTICALS INC Director, 10%+ Owner 555 HERITAGE DRIVE, SUITE 200, JUPITER /s/ Octavio Espinoza, Chief Financial Officer of Ligand Pharmaceuticals Incorporated 2025-11-10 0000886163

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PTHS Senior Secured Convertible Note Award $9M $9M Nov 6, 2025 Common Stock 261K $34.44 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 6, 2025, Pelthos Therapeutics Inc. (the "Issuer") entered into a Securities Purchase Agreement with the reporting person and certain other investors, pursuant to which the Issuer issued a senior secured convertible note (the "Convertible Note") in the aggregate principal amount of $9 million to the reporting person on November 6, 2025. The Convertible Note may be converted into Common Stock at a conversion price of $34.442 per share. The Note includes a beneficial ownership limitation of 49.9% with respect to the reporting person.

Remarks:

The reporting person may be deemed to be a director by deputization by virtue of the fact that each of Todd Davis, Chief Executive Officer of the reporting person, and Richard Baxter, Senior Vice President of Investment Operations of the reporting person, serves on the board of directors of the Issuer.