Channel Therapeutics Announces Reverse Common Stock Split in Conjunction with the Close of the Merger with Pelthos Therapeutics and Concurrent $50.1 Million Private Placement
Channel Therapeutics (NYSE American: CHRO), a non-opioid pain treatment therapeutics company, announced a 10-for-1 reverse stock split effective July 1, 2025. The split coincides with the company's merger with LNHC and a $50.1 million private placement led by Murchinson.
The reverse split will reduce outstanding shares from approximately 6.48 million to 648,501. Following the merger, the company will be renamed to Pelthos Therapeutics and trade under the symbol "PTHS". The move aims to increase the stock price and meet NYSE American listing requirements.
Channel Therapeutics (NYSE American: CHRO), un'azienda specializzata in terapie per il trattamento del dolore non oppioide, ha annunciato un raggruppamento azionario inverso 10-per-1 con effetto dal 1° luglio 2025. Questa operazione coincide con la fusione della società con LNHC e un collocamento privato da 50,1 milioni di dollari guidato da Murchinson.
Il raggruppamento ridurrà le azioni in circolazione da circa 6,48 milioni a 648.501. Dopo la fusione, la società cambierà nome in Pelthos Therapeutics e sarà quotata con il simbolo "PTHS". L’obiettivo è aumentare il prezzo delle azioni e soddisfare i requisiti di quotazione di NYSE American.
Channel Therapeutics (NYSE American: CHRO), una empresa dedicada a terapias para el tratamiento del dolor no opioide, anunció una consolidación inversa de acciones 10 a 1 que entrará en vigor el 1 de julio de 2025. Esta operación coincide con la fusión de la compañía con LNHC y una colocación privada de 50,1 millones de dólares liderada por Murchinson.
La consolidación reducirá las acciones en circulación de aproximadamente 6,48 millones a 648,501. Tras la fusión, la empresa cambiará su nombre a Pelthos Therapeutics y cotizará bajo el símbolo "PTHS". La medida busca aumentar el precio de las acciones y cumplir con los requisitos de cotización de NYSE American.
Channel Therapeutics (NYSE American: CHRO)는 비오피오이드 진통 치료제 전문 기업으로, 2025년 7월 1일부터 10대 1 역병합 주식 분할을 실시한다고 발표했습니다. 이번 분할은 LNHC와의 합병 및 Murchinson이 주도하는 5,010만 달러 규모의 사모 배정과 동시에 진행됩니다.
역병합으로 인해 발행 주식 수는 약 648만 1,000주에서 64만 8,501주로 줄어듭니다. 합병 후 회사명은 Pelthos Therapeutics로 변경되며, 거래 심볼은 "PTHS"가 됩니다. 이번 조치는 주가 상승과 NYSE American 상장 요건 충족을 목표로 합니다.
Channel Therapeutics (NYSE American : CHRO), une société spécialisée dans les traitements non opioïdes de la douleur, a annoncé un regroupement d'actions inversé de 10 pour 1 effectif à partir du 1er juillet 2025. Cette opération coïncide avec la fusion de la société avec LNHC et un placement privé de 50,1 millions de dollars mené par Murchinson.
Le regroupement réduira le nombre d'actions en circulation d'environ 6,48 millions à 648 501. Après la fusion, la société sera renommée Pelthos Therapeutics et cotera sous le symbole "PTHS". Cette démarche vise à augmenter le cours de l'action et à satisfaire aux exigences de cotation du NYSE American.
Channel Therapeutics (NYSE American: CHRO), ein Unternehmen für nicht-opioide Schmerztherapien, gab eine 10-zu-1 Reverse-Aktienzusammenlegung bekannt, die am 1. Juli 2025 wirksam wird. Die Zusammenlegung erfolgt zeitgleich mit der Fusion des Unternehmens mit LNHC und einer privaten Platzierung in Höhe von 50,1 Millionen US-Dollar, angeführt von Murchinson.
Durch die Reverse-Split wird die Anzahl der ausstehenden Aktien von etwa 6,48 Millionen auf 648.501 reduziert. Nach der Fusion wird das Unternehmen in Pelthos Therapeutics umbenannt und unter dem Symbol "PTHS" gehandelt. Ziel ist es, den Aktienkurs zu erhöhen und die Anforderungen der NYSE American-Börse zu erfüllen.
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Insights
Channel Therapeutics executing 10:1 reverse split before NYSE American listing, merger with Pelthos, and $50.1M capital raise.
Channel Therapeutics has announced a 10-for-1 reverse stock split designed to boost its share price ahead of its NYSE American listing requirements. This financial maneuver comes as the company prepares to close its merger with LNHC (Pelthos Therapeutics) and secure a substantial
The reverse split will dramatically reduce Channel's outstanding shares from approximately 6,485,007 to 648,501, effective July 1, 2025. While this consolidation changes the nominal share count and price, it's important to understand that shareholders' percentage ownership remains unchanged - this is purely a technical adjustment that doesn't alter the company's underlying fundamentals or market capitalization.
Following the merger's completion, Channel will begin trading under a new name (Pelthos Therapeutics) and ticker symbol (PTHS) on July 2. This transformation represents a strategic pivot for Channel, which describes itself as "an emerging leader in non-opioid pain treatment therapeutics."
The
FREEHOLD, N.J., June 27, 2025 (GLOBE NEWSWIRE) -- Channel Therapeutics Corporation, (“Channel” or the “Company”), (NYSE American: CHRO), an emerging leader in the development of non-opioid pain treatment therapeutics, today announced a 10-for-one reverse split (the “Reverse Stock Split”) of the Company’s common stock (the “Common Stock”). The Reverse Stock Split is intended to increase the market price per share of the Company’s Common Stock and help the Company satisfy the initial listing requirements of the NYSE American (the “NYSE American”) in connection with the anticipated closing of the previously announced merger of CHRO Merger Sub, Inc., a wholly owned subsidiary of the Company, with and into LNHC, Inc. and the related approximately
On April 16, 2025, the Company’s stockholders approved a reverse stock split of the Company’s Common Stock at a ratio in the range of 5-for-one to 25-for-one, with such ratio to be determined by the Company’s Board of Directors. The Reverse Stock Split is expected to be effective before market open on July 1, 2025 (the “Effective Time”) and the Company’s Common Stock will begin trading on a split-adjusted basis on the NYSE American under the name “Pelthos Therapeutics Inc.” at the market open on July 2, 2025.
At the Effective Time, every 10 issued and outstanding shares of the Company’s Common Stock will be converted into one share of the Company’s Common Stock. Once effective, the Reverse Stock Split will reduce the number of issued and outstanding shares of Common Stock from approximately 6,485,007 to approximately 648,501 shares, notwithstanding reconciliation of fractional shares.
Each stockholder’s percentage ownership interest in the Company will remain unchanged as a result of the Reverse Stock Split. No fractional shares shall be issued in connection with the Reverse Stock Split, and any fractional shares resulting from the Reverse Stock Split will be rounded up at the participant level with The Depository Trust Company. Each certificate that immediately prior to the Effective Time represented shares of Common Stock shall thereafter represent that number of shares of Common Stock into which the shares of Common Stock represented by the certificate shall have been combined, subject to the elimination of fractional share interests as described above. Holders of the Company’s Common Stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the Reverse Stock Split. Stockholders of record will be receiving information from Nevada Agency and Transfer Company (“NATCO”), the Company’s transfer agent, regarding their stock ownership following the Reverse Stock Split. NATCO may be reached for questions at (775) 322-0626.
The Reverse Stock Split will not modify any rights or preferences of the Company’s Common Stock. The trading symbol for the Company’s Common Stock will remain “CHRO”. Upon the consummation of the Proposed Transactions, the trading symbol for the Company’s Common Stock will be “PTHS”. The new CUSIP number for the Company’s Common Stock following the Reverse Stock Split will be 171126 204.
Additional information about the Reverse Stock Split can be found in the Company’s Definitive Information Statement filed with the Securities and Exchange Commission (the “SEC”) on May 27, 2025, a copy of which is also available at www.sec.gov or at www.channeltherapeutics.com under the “SEC Filings” tab.
About Channel
Channel Therapeutics Corporation is a clinical-stage biotechnology company focused on developing and commercializing novel, non-opioid, non-addictive therapeutics to alleviate pain. The Company’s initial clinical focus is to selectively target the sodium ion-channel known as NaV1.7 for the treatment of various types of systemic chronic pain, acute and chronic eye pain and post-surgical nerve blocks. For company updates and to learn more about Channel, visit www.channeltherapeutics.com or follow us on social media.
Important Information About the Proposed Transactions and Where to Find It
This press release relates to the previously announced Proposed Transaction. For additional information on the Proposed Transaction, see the Company’s Current Report on Form 8-K, filed on April 17, 2025. In connection with the Proposed Transaction, the Company has filed relevant materials with the SEC, including an information statement on Schedule 14C. The Company’s stockholders and other interested persons are advised to read the information statement and documents incorporated by reference therein filed in connection with the Proposed Transaction on May 27, 2025, as these materials contain important information about LNHC, the Company and the Proposed Transaction. The Company has mailed the definitive information statement to each stockholder entitled to consent to the approval of the Proposed Transaction and the other items set forth in the information statement. The documents filed by the Company with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov, or by directing a request to the Company at 4400 Route 9 South, Suite 1000, Freehold, New Jersey 07728.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company’s current expectations. These forward-looking statements include, without limitation, references to the Company’s expectations regarding the Reverse Stock Split’s increasing the market price per share of the Company’s Common Stock and helping the Company satisfy the initial listing requirements of the NYSE American. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those set forth in such forward-looking statements include, but are not limited to, risks and uncertainties related to whether the combined company will satisfy the initial listing requirements of the NYSE American or will continue to meet the NYSE American listing standards in the future and uncertainty relating to the timing and consummation of the Proposed Transaction between the Company and LNHC. These and other risks and uncertainties are described more fully in in our filings with the U.S. Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and we undertake no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law.
Channel Media and Investor Inquires:
For Investor Inquiries:
Mike Moyer
Managing Director, LifeSci Advisors, LLC
mmoyer@lifesciadvisors.com
