Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 34

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 34
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 a total of 300,000,000
shares of capital stock, consisting of 250,000,000 shares of Common Stock and 50,000,000 shares of preferred stock, par value $0.0001
per share (the “Preferred Stock”).

On May 15, 2024, we
received a letter from Nasdaq indicating that, based upon the closing bid price of our Common Stock for 30 consecutive business day period
between April 3, 2024, through May 14, 2024, the Company did not meet the minimum bid price of $1.00 per share required for
continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Nasdaq Minimum Bid Price Rule”).
We were provided a period of 180 calendar days, or until November 11, 2024 (the “Compliance Period”), in which to regain
compliance with the Nasdaq Minimum Bid Price Rule. On November 12, 2024, the Company received notice from the Staff granting the
Company’s request for a 180-day extension to regain compliance with the Nasdaq Minimum Bid Price Rule, or, until May 12, 2025
(the “Compliance Period”). In order to regain compliance with the Nasdaq Minimum Bid Price Rule, the Company’s Common
Stock must maintain a minimum closing bid price of $1.00 for at least ten consecutive business days during the Compliance Period. However,
if it appears to Nasdaq that the Company will be unable to cure the deficiency Nasdaq will provide notice that the Company’s Common
Stock will be subject to delisting. There can be no assurance that the Nasdaq staff would grant the Company’s request for continued
listing subsequent to any delisting notification. In the event of such a notification, the Company may appeal the Nasdaq staff’s
determination to delist its securities.

On March 7, 2025, subject
to stockholder approval, the Board approved an amendment to our Charter to, at the discretion of the Board, effect the Reverse Stock Split
of the Common Stock at a ratio of 1-for-250 to 1-for-50, including shares held by the Company as treasury shares, with the exact ratio
within such range to be determined by the Board of the Company at its discretion. The primary goal of the Reverse Stock Split is to increase
the per share market price of our Common Stock to meet the