Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 93

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 93
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 the completion of a merger, tender offer or other takeover attempt.

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#### Series A Preferred Stock
The following are the principal terms of the Series A Preferred Stock:

Dividends

The holders of the Series A Preferred Stock are entitled to dividends of 8.0% per annum, compounded monthly, which will be payable in cash or shares of common stock at the Company’s option, in accordance with the terms of the certificate of designation of the Series A Preferred Stock (the “Series A Certificate of Designation”). Upon the occurrence and during the continuance of a Triggering Event (as defined in the Series A Certificate of Designation), shares of Series A Preferred Stock will accrue dividends at the rate of 15.0% per annum. Upon conversion or redemption, the holders of shares of Series A Preferred Stock are also entitled to receive a dividend make-whole payment. The event of default under the Settlement Agreement and the Security Agreement existing and continuing by virtue of Metuchen’s failure to pay the Installment (as defined in the Promissory Note) that was due October 1, 2024, constitutes a Triggering Event pursuant to the terms of the Certificate of Designations. As a result, the dividend rate of the Series A Preferred Stock was automatically increased to 15% per annum beginning on December 10, 2024.

Voting Rights

On October 11, 2024, the Company entered into an Amendment Agreement with the Required Holders (as defined in the Certificate of Designations), pursuant to which, the Required Holders agreed to amend the Certificate of Designations of the Company’s Series A Preferred Stock, as described below, by filing a Certificate of Amendment to the Certificate of Designations (the “October 2024 Certificate of Amendment”) with the Secretary of State of the State of Delaware, which was filed on October 11, 2024. The October 2024 Certificate of Amendment amends the Certificate of Designations to provide that, except as required by applicable law, the holders of the Series A Preferred Stock are entitled to vote with holders of the common stock on an as converted basis, with the number of votes to which each holder of Series A Preferred Stock is entitled to be determined by dividing the Stated Value by a conversion price equal to $2.25 per share, which was the “Minimum Price” (as defined in Nasdaq Listing Rule 5635(d)) applicable immediately before the execution and delivery of the Purchase Agreement, subject to certain beneficial ownership limitations and adjustments