Company: PTPI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001410578-25-000579
Chunk: 5

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13C
Chunk 5
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ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Transactions with Related Persons

SEC rules require us to disclose any transaction or currently proposed transaction in which we are a participant and in which any related person has or will have a direct or indirect material interest involving an amount that exceeds the lesser of $120,000 or one percent (1%) of the average of the Company’s total assets as of the end of last two completed fiscal years. A related person is any executive officer, director, nominee for director, or holder of 5% or more of the Company’s Common Stock, or an immediate family member of any of those persons.

In connection with the Private Placement, in July 2023, we issued to Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B (“Alto”) 1,000 shares of our Series A Preferred Stock and Warrants to purchase up to 444,444 shares of Common Stock, which beneficially owned more than 5% of our voting securities, for aggregate gross proceeds of $1 million. For more information about the Private Placement, our Series A Preferred Stock, and the Warrants, see the section titled “MD&A - Liquidity and Capital Resources - July 2023 Private Placement.”

Relationship with Juggernaut Partners III GP, L.P.

JCP III AIV and METP, are prior holders of 5% or more of the issued and outstanding shares of Common Stock of the Company, collectively. JCP III GP is the sole general partner of JCP III AIV, METP and Juggernaut Capital Partners III, L.P (“JCP III”). JCP III GP Ltd is the sole general partner of JCP III GP. John D. Shulman is the sole director of JCP III GP Ltd. Mr. Shulman was a previous director of the Company and resigned from his role as director of the Company, effective as of October 1, 2024.

On November 28, 2023, the Board approved a payment to JCP III AIV of $125,000 in recognition of various management and advisory services previously provided to the Company by JCP III AIV.

Public Offering

On February 17, 2025, the Company entered into the Public Offering Purchase Agreement with certain institutional and accredited investors, including Five Narrow Lane LP (“Five Narrow”), 3i, LP (“3i), Iroquois Master Fund