Company: PTPI
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021794
Chunk: 27

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 27
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 on Form 8-K filed by the Company on February 21, 2025. Our security holders entitled to vote on the Issuance Proposal should carefully review the terms and provisions of the form of Series B Warrant for a complete description of the terms and conditions of the Series B Warrants.

Duration and Exercise Price

Each Series B Warrant is exercisable for one share of Common Stock,
has an exercise price equal to $0.48 per share, will become exercisable on the Initial Exercise Date and will expire on the one (1) year
anniversary of the Initial Exercise Date. The exercise price and number of shares of Common Stock issuable upon exercise of the Series B
Warrants is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting
our Common Stock and the exercise price. The Series B Warrants were issued separately from the Common Stock and/or Pre-Funded Warrants
and may be transferred separately immediately thereafter.

Exercise Price Adjustments

The exercise of the Series B Warrants can be reduced by operation
of Share Combination Event Adjustment provision, subject to a floor price of $0.1465 prior to the Stockholder Approval Date and a floor
price of $0.0586 on the Stockholder Approval Date (such floor price then in effect, the “Series B Floor Price”).

Cashless Exercise and Alternative Cashless Exercise

If, at the time a holder exercises its Series B Warrants, a registration
statement registering the issuance of the shares of Common Stock underlying the Series B Warrants under the Securities Act is not
then effective or the prospectus contained therein is not available for the issuance of such shares, then the Series B Warrant may
be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the holder shall be entitled to
receive a number of shares equal of our Common Stock in accordance with the formula set forth in the Series B Warrant.

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Holders may also effect an “alternative cashless exercise”
at any time while the Series B Warrants are outstanding following the Initial Exercise Date. Under the alternative cashless exercise
option, a holder of a Series B Warrant, has the right to receive an aggregate number of shares equal to the product of (i) the
aggregate number of shares of Common Stock that would be issuable upon a cash rather than a cashless exercise of the Series B Warrant
and