Company: PTPI
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001410578-25-000047
Chunk: 26

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 26
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 is contingent upon us obtaining the Warrant Stockholder Approval. The Series Warrants will become exercisable on the trading date following the Warrant Stockholder Approval and will expire on the five-year anniversary of such date with respect to the Series A Warrants, and on the two and one-half year anniversary of such date with respect to the Series B Warrants. While we intend to promptly seek the Warrant Stockholder Approval for these mechanisms, there is no guarantee that it will ever be obtained. In the event that we cannot obtain the Warrant Stockholder Approval, the Series Warrants may never become exercisable. If we are unable to obtain the Warrant Stockholder Approval, the Series Warrants will have no value.

We have agreed to hold a special meeting of stockholders (which may also be at the annual meeting of shareholders) at the earliest practicable date after the date hereof, but in no event later than days after the closing of the offering (the “Stockholder Meeting Deadline”), in order to obtain the Warrant Stockholder Approval. If, despite the Company’s reasonable best efforts the Warrant Stockholder Approval is not obtained on or prior to the Stockholder Meeting Deadline, the Company shall cause an additional stockholder meeting to be held on or prior to the ninetieth (90th) calendar day following the failure to obtain Warrant Stockholder Approval. If, despite the Company’s reasonable best efforts the Stockholder Approval is not obtained after such subsequent stockholder meetings, the Company shall cause an additional stockholder meeting to be held every ninety days thereafter until (i) such Warrant Stockholder Approval is obtained, or (ii) December 31, 2025, whichever is sooner. There is no guarantee we will be able to hold a special meeting within this timeframe, or at all.

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Risks Related to Petros’ Capital Requirements and Financing Our consolidated financial statements have been prepared on a going concern basis; we must raise additional capital to fund our operations in order to continue as a going concern. In its report dated April 1, 2024, Marcum LLP, our independent registered public accounting firm, expressed substantial doubt about our ability to continue as a going concern as we have suffered recurring losses from operations and have insufficient liquidity to fund our future operations. If we are unable to improve our liquidity position, we may not be able to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result if we are unable to continue as