Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 270

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 270
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, respectively. On October 1, 2024, the Company failed to make the required payment due pursuant to the Note and related Security Agreement with Vivus in the amount of $ 0.5million, constituting an Event of Default (as defined in the Note) under the Note and Security Agreement. As a result of the Event of Default, the Company accrued an additional $ 50,000of interest expense.

F-44

Future minimum principal payments of the Note are as follows:

| ​                                       | ​ | ​ |          ​ |
|:----------------------------------------|:--|:--|-----------:|
| 2024 (remaining 3 months)               |   | $ |    391,271 |
| 2025                                    | ​ | ​ |  2,720,940 |
| 2026                                    | ​ | ​ |  3,264,351 |
| 2027                                    | ​ | ​ |    872,073 |
| Total                                   | ​ | $ |  7,248,635 |
| Less: current portion                   | ​ | ​ | -2,326,050 |
| Promissory note, net of current portion | ​ | $ |  4,922,585 |

9) Stockholders’ Equity On December 21, 2023, the Company approved and accrued for the issuance of $ 200,000of common stock, payable in twoequal installments, with the first installment to be paid upon approval by the Board and the second installment six months after the first installment, to CorProminence, LLC (“CoreIR”) for services rendered pursuant to a Marketing and Consulting Agreement. The first installment of 70,922shares was issued on February 29, 2024. The second installment of 245,158shares was issued on June 21, 2024. On January 5, 2024, the Company executed an advisory agreement (“Maxim Agreement”) with Maxim Group LLC (“Maxim”) that included the issuance of $ 10,000of the Company’s restricted common stock per month and issued every six months starting upon the execution of the agreement. The first installment of 6,906shares was issued on January 5, 2024. The second installment of 136,986shares was issued on August 13, 2024. On August 20, 2024, the Company delivered written notice of termination of the Maxim Agreement, effective September 30, 2024.