Company: PTPI
Filing Date: 2025-02-10
Form Type: S-1/A
Source: 0001410578-25-000108
Chunk: 97

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-10
Form: S-1/A
Chunk 97
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 (“DGCL”) may also affect the terms of these securities. The summary below is qualified in its entirety by reference to our Articles of Incorporation and By-Laws, each as in effect at the time of any offering of securities under this prospectus.

As of February 6, 2025, our authorized capital stock consists of 250,000,000 shares of common stock, par value $0.0001 per share, of which 11,319,039 shares were issued and outstanding, and 50,000,000 shares of preferred stock, par value $0.0001 per share, of which 567.85 shares of Series A Preferred Stock were issued and outstanding. In addition, as of February 6, 2025, there were 420,133 shares of common stock issuable upon exercise of options outstanding, 8,106,821 shares of common stock issuable upon exercise of warrants outstanding and 47,658 shares of common stock reserved for future grant or issuance, which, in each case, does not give effect to the issuance of the Stock Awards in the amount of 2,200,000 shares of restricted shares of common stock to be issued to certain directors and officers of the Company, subject to the closing of this offering. The authorized and unissued shares of common stock and preferred stock are available for issuance without further action by our stockholders.

Common Stock

We have never declared or paid any cash dividends on our common stock. So long as any shares of Series A Preferred Stock are outstanding, as they are at this time, we are not able to declare or pay any cash dividend or distribution on any of our capital stock (other than as required by the Certificate of Designations) without the prior written consent of the Required Holders (as defined in the Certificate of Designations). We currently anticipate that we will retain future earnings to fund development and growth of our business, and we do not anticipate paying cash dividends on our common stock in the foreseeable future. The decision to pay dividends is at the discretion of our Board and depends upon our ability to obtain a waiver of the restriction on paying dividends contained in our credit facility, and on our financial condition, results of operations, capital requirements, and other factors that our Board deems relevant. Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders. There is no cumulative voting of the election of directors then standing for election. Our common stock is not entitled to pre-