Company: PTPI
Filing Date: 2025-02-14
Form Type: S-1/A
Source: 0001410578-25-000137
Chunk: 242

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-14
Form: S-1/A
Chunk 242
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1%. As of December 31, 2023, the Company has notified the investors of its intention to redeem the upcoming installments due in cash and recorded a liability of $ 2,047,582representing the cash payable to investors which includes $ 1,726,352of the stated value of the Series A Preferred Shares, $ 187,277of accrued dividends payable, and $ 133,955for the cash premium which was recognized as a deemed dividend. As of December 31, 2023, the Company has redeemed an aggregate 2,930Series A Preferred Shares for cash of $ 1,998,901and issued 822,112shares of Common Stock, elected pursuant to the terms of the Certificate of Designations, worth $ 1,195,745in relief of the accrued Series A Preferred Stock payments payable. As of December 31, 2023, the Company has recognized $ 821,456of preferred dividends which is comprised of $ 556,733of preferred dividends at the stated dividend rate and $ 264,723of deemed dividends for cash premium for installment redemptions. We are subject to certain affirmative and negative covenants regarding the incurrence of indebtedness, the existence of liens, the repayment of indebtedness, the payment of cash in respect of dividends (other than dividends pursuant to the Certificate of Designations), distributions or redemptions, and the transfer of assets, among other matters. There is no established public trading market for the Series A Preferred Shares and we do not intend to list the Series A Preferred Shares on any national securities exchange or nationally recognized trading system. Warrants The Warrants became exercisable for shares of Common Stock (the “Warrant Shares”) immediately upon issuance, at an initial exercise price of $ 2.25per share (the “Exercise Price”) and expire five yearsfrom the date of issuance. The Exercise Price is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment, on a “full ratchet” basis, in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below the then-applicable Exercise Price (subject to certain exceptions). Upon any such price-based adjustment, the number of Warrant Shares issuable upon exercise of the Warrants will be increased proportionately. There is no established public trading market for the Warrants and we do not intend to list the W