Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 30

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 30
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 of the Series B Warrants.

The Series B Warrants may be exercised by way of an alternative cashless exercise, in which case the holder would not pay a cash purchase price upon exercise, but instead would receive upon such exercise the number of shares of Series B Preferred Stock equal to the product of (i) the aggregate number of shares of Series B Preferred Stock that would be issuable upon a cash exercise rather than a cashless exercise of the Series B Warrant multiplied by (ii) 3.0. Accordingly, we will likely not receive any additional funds upon the exercise of the Series B Warrants. Accordingly, it is highly unlikely that a holder of the Series B Warrants would wish to pay an exercise price in cash to receive .001 share of Series B Preferred Stock when they could instead choose the alternative cashless exercise option and pay no cash to receive .003 shares of Series B Preferred Stock. As a result, we will likely not receive any additional funds and do not expect to receive any additional funds upon the exercise of the Series B Warrants.

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The ability of the holders to convert Series B Preferred Stock is contingent upon us obtaining the Stockholder Approval. If we do not obtain such Stockholder Approval, the Series B Preferred Stock may never become convertible.

The Series B Preferred Stock are not immediately convertible, as the holders ability to convert is contingent upon us obtaining the Stockholder Approval. The Series B Preferred Stock will become exercisable on the trading date following the Stockholder Approval. While we intend to promptly seek the Stockholder Approval, there is no guarantee that it will ever be obtained. In the event that we cannot obtain the Stockholder Approval, the Series B Preferred Stock may never become convertible. If we are unable to obtain the Stockholder Approval, the Series Warrants and the Series B Preferred Stock will have no value.

We have agreed to hold a special meeting of stockholders (which may also be at the annual meeting of shareholders) at the earliest practicable date after the date hereof, but in no event later than 60 days after the closing of the offering (the “Stockholder Meeting Deadline”), in order to obtain the Stockholder Approval. If, despite the Company’s reasonable best efforts the Stockholder Approval is not obtained on or prior to the Stockholder Meeting Deadline, the Company shall cause an additional stockholder meeting to be held on or prior to the ninetieth (90th) calendar day following the failure to obtain Stockholder Approval. If, despite the