Company: PTPI
Filing Date: 2025-01-24
Form Type: 8-K
Source: 0001104659-25-005980
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Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-01-24
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive
Agreement

As previously disclosed, on July 13, 2023, Petros
Pharmaceuticals, Inc. (the “ Company”) entered into a Securities Purchase Agreement (the “ Purchase Agreement”)
with certain accredited investors (the “ Investors”) pursuant to which it agreed to sell to the Investors (i) shares of the
Company’s newly-designated Series A Convertible Preferred Stock (the “ Series A Preferred Stock”), with a par value of
$0.0001 per share and a stated value of $1,000 per share (the “ Stated Value”), and (ii) warrants (the “ Warrants”)
to acquire shares of the Company’s common stock, par value $0.0001 per share (“ Common Stock”). The terms of the Series
A Preferred Stock are as set forth in the Certificate of Designations of Series A Convertible Preferred Stock (as amended, the “ Certificate
of Designations”) filed with the Secretary of State of the State of Delaware (the “ Secretary of State”) on July 14,
2023.

On January 23, 2025, 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 (i) amend the Certificate of Designations, as described below, by filing a Certificate of Amendment to the Certificate of Designations
with the Secretary of State (the “ Certificate of Amendment”), (ii) defer any payment amounts that have accrued and that are
unpaid as of January 23, 2025 pursuant to the Certificate of Designations, to February 15, 2025, and (iii) waive any breach or violation
of the Purchase Agreement, the Certificate of Designations, or the Warrants resulting from the Company’s failure to pay such outstanding
amounts.

The Certificate of Amendment amends the
Certificate of Designations to (i) extend the maturity date to February 15, 2025, (ii) modify the schedule of Installment Dates (as
defined in the Certificate of Designations), (iii) amend the restrictive covenant of the Certificate of Designations such that the
Company is required from January 15, 2025 until February 15, 2025, to maintain unencumbered, unrestricted cash and cash equivalents
on hand in amount equal to at least $500,000, and (iv