Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 101

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 101
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 can become convertible, we are required to receive stockholder approval of the Charter Amendment to our Charter to sufficiently increase our authorized shares of common stock to cover the conversion of all outstanding shares of Series B Preferred Stock into common stock.

In addition to the Charter Amendment, the Company is required to obtain stockholder approval as may be required by the applicable rules and regulations of The Nasdaq Stock Market LLC (or any successor entity), but not limited to, with respect to (i) the issuance of all of the shares of common stock issuable upon conversion of the Series Warrant Shares upon the exercise the Series Warrants in accordance with their terms (including adjustment provisions set forth therein), and (ii) to consent to any adjustment to the exercise price or number of shares of Series B Preferred Stock underlying the Series Warrants in the event of a Share Combination Event, Dilutive Issuance and Reset Date (as defined in the Series B Warrants) (collectively, the “Stockholder Approval”). We have agreed to use our reasonable best efforts to obtain such approval within 60 days from the closing of this offering, and agreed to cause an additional stockholder meeting to be held every ninety days thereafter until (i) such Stockholder Approval is obtained, or (ii) December 31, 2025, whichever is sooner. We cannot assure you that we will be able to obtain requisite Stockholder Approval.

Common Stock

We have never declared or paid any cash dividends on our common stock. So long as any shares of Series A Preferred Stock are outstanding, as they are at this time, we are not able to declare or pay any cash dividend or distribution on any of our capital stock (other than as required by the Certificate of Designations) without the prior written consent of the Required Holders (as defined in the Certificate of Designations). We currently anticipate that we will retain future earnings to fund development and growth of our business, and we do not anticipate paying cash dividends on our common stock in the foreseeable future. The decision to pay dividends is at the discretion of our Board and depends upon our ability to obtain a waiver of the restriction on paying dividends contained in our credit facility, and on our financial condition, results of operations, capital requirements, and other factors that our Board deems relevant. Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders. There is no cumulative voting of the election of directors then standing for election. Our common stock is not entitled to pre-empt