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

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 $50 million in capital to be raised from a group of strategic investors led by Murchinson (together, the “Proposed Transactions”).

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