Company: PTPI
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021794
Chunk: 29

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 29
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 liquidity of the Series B Warrants will be extremely limited.

Right as a Stockholder

Except as otherwise provided in the Series B Warrants or by virtue
of such holder’s ownership of our shares of Common Stock, the holder of a Series B Warrant does not have the rights or privileges
of a holder of our Common Stock, including any voting rights, until the holder exercises the Series B Warrant.

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Waivers and Amendments

The Series B Warrants may be modified or amended, or the provisions
thereof waived with the written consent of the Company and the respective holder.

Approval of the Issuance Proposal

Our Common Stock is
listed on The Nasdaq Capital Market, and as a result, we are subject to Nasdaq’s Listing Rules, including Nasdaq Listing
Rule 5635(d). Nasdaq Listing Rule 5635(d) requires stockholder approval of transactions, other than public offerings,
resulting in the issuance of greater than 20% of the outstanding Common Stock at a price less than the “Minimum Price.”
Because (i) no additional consideration was paid for the Series Warrants, and (ii) the exercise in full of the
Series Warrants (including shares of Common Stock issuable in connection with certain anti-dilution and adjustment provisions
contained in the Series Warrants, as applicable, including without limitation, the Dilutive Issuance Provision, the Share
Combination Event Adjustment provision, the floor price reset upon receipt of Stockholder Approval, and the Alternative Cashless
Exercise provision), taken together with the sale of the shares of Common Stock and Pre-Funded Warrants in the Offering, would have
resulted in the issuance of more than 20% of our outstanding shares of Common Stock, Nasdaq Listing Rule 5635(d) is
implicated by the issuance of the Series Warrants. Accordingly, in order to comply with Nasdaq Listing Rule 5635(d), the
Series Warrants include a provision under which they may not be exercised until we have obtained Stockholder Approval. The
Company has agreed to use its reasonable best efforts to obtain such Stockholder Approval within 60 days from the closing of the
Offering, and agreed to cause an additional stockholder meeting to be held every 90 days thereafter until such Stockholder Approval
is obtained. Accordingly, we are seeking stockholder approval pursuant to Nasdaq Listing Rule 5635(d) to permit the
issuance of the maximum number of