Company: PTPI
Filing Date: 2025-05-21
Form Type: 8-K
Source: 0001104659-25-051336
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Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-05-21
Form: 8-K
Item: Item 3.01
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Item 3.01. Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 20, 2025, Petros Pharmaceuticals, Inc.
(the “ Company”) received a letter (the “ Letter”) from the Nasdaq Hearings Panel (the “ Panel”) indicating
that the Panel has determined to delist the Company’s securities from The Nasdaq Stock Market LLC (“ Nasdaq”) as a result
of (i) the Company’s failure to maintain compliance with the minimum stockholders’ equity requirement under Nasdaq Listing
Rule 5550(b)(1), (ii) the Company’s failure to meet the minimum bid price of $1.00 per share pursuant to Nasdaq Listing Rule 5550(a)(2),
(iii) the Company’s low bid price pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii), and (iv) Nasdaq’s public interest concerns
regarding the Company’s public offering of securities that closed on February 19, 2025, pursuant to Nasdaq Listing Rule 5810(d).

Pursuant to the Letter, the Panel has determined
to deny the Company’s request to continue its listing on Nasdaq and that the Company’s common stock, par value $0.0001 per
share (“ Common Stock”), will be suspended at the open of trading on May 22, 2025. Following the suspension of trading on Nasdaq,
the Company expects that its Common Stock will trade publicly on the OTC Markets under its existing symbol “ PTPI” beginning
on May 22, 2025.

Pursuant to the Letter, the Company has a period
of 15 days from the date of the Letter to submit a written request for a review of the Panel’s delisting determination by the Nasdaq
Listing and Hearing Review Council (the “ Listing Council”). Unless the Company submits a timely request for the Listing Council’s
review of the Panel’s delisting determination, the Company expects that a Form 25 will be filed with the U. S. Securities and Exchange
Commission (the “ SEC”), which would remove the Company’s securities from listing and registration on Nasdaq. The Company
has determined it will request an appeal of the delisting determination by the Listing Council. Requesting such a review will stay the
filing of the Form 25 pending the Listing Council’s review, but will not stay the suspension of trading in the Company’s Common
Stock