Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 241

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 241
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Investors”), pursuant to which we agreed to sell in a private placement to the Investors (i) an aggregate of 15,000shares of our newly-designated Series A Convertible Preferred Stock, with a par value of $ 0.0001per share and a stated value of $ 1,000per share (the “Series A Preferred Stock”), initially convertible into up to 6,666,668shares of our common stock, par value $ 0.0001per share (the “Common Stock”) at an initial conversion price of $ 2.25per share (the “Series A Preferred Shares”), and (ii) warrants to acquire up to an aggregate of 6,666,668shares of Common Stock (the “Warrants”) at an initial exercise price of $ 2.25per share (collectively, the “Private Placement”). Pursuant to the terms of the Certificate of Designations of Series A Convertible Preferred Stock (the “Certificate of Designations”) and the Warrants, each of the Conversion Price (as defined below) and the exercise price and the number of shares underlying the Warrants is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below the then-applicable Conversion Price (subject to certain exceptions). As of December 31, 2023, the Conversion Price and the exercise price of the Warrants was equal to $ 2.25per share. The Private Placement was exempt from the registration requirements of the Securities Act pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. The closing of the Private Placement occurred on July 17, 2023. The aggregate net proceeds from the Private Placement were $ 13,740,003. We intend to use the net proceeds from the Private Placement for general corporate purposes. We engaged Katalyst Securities LLC (the “Placement Agent”) to act as exclusive placement agent in connection with the Private Placement. Pursuant to an Engagement Letter with the Placement Agent, we paid to the Placement Agent or its designees (i) a cash fee equal to 8% of the gross proceeds of the Private Placement and (ii) warrants to acquire up