Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 31

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 31
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 Listing Rules, including Nasdaq Listing Rule 5635(d).
Nasdaq Listing Rule 5635(d) requires stockholder approval of transactions, other than public offerings, resulting in the issuance of greater
than 20% of the outstanding Common Stock at a price less than the “Minimum Price.” Because (i) no additional consideration
was paid for the Series Warrants, and (ii) the exercise in full of the Series Warrants (including shares of Common Stock issuable in connection
with certain anti-dilution and adjustment provisions contained in the Series Warrants, as applicable, including without limitation, the
Dilutive Issuance Provision, the Share Combination Event Adjustment provision, the floor price reset upon receipt of Stockholder Approval,
and the Zero Exercise Price provision), taken together with the sale of the shares of Common Stock and Pre-Funded Warrants in the Offering,
would have resulted in the issuance of more than 20% of our outstanding shares of Common Stock, Nasdaq Listing Rule 5635(d) is implicated
by the issuance of the Series Warrants. Accordingly, in order to comply with Nasdaq Listing Rule 5635(d), the Series Warrants include
a provision under which they may not be exercised until we have obtained Stockholder Approval. The Company has agreed to use its reasonable
best efforts to obtain such Stockholder Approval within 60 days from the closing of the Offering, and agreed to cause an additional stockholder
meeting to be held every 90 days thereafter until such Stockholder Approval is obtained. Accordingly, we are seeking stockholder approval
pursuant to Nasdaq Listing Rule 5635(d) to permit the issuance of the maximum number of Series Warrant Shares issuable pursuant to the
terms of the Series Warrants.

If the Company does not obtain
Stockholder Approval at the Special Meeting, the Company will not be able to issue to the holders of the Series Warrants the number
of shares to which they would otherwise be entitled upon full exercise of the Series Warrants, which could require the Company to
pay substantial cash amounts in lieu of delivering those shares.

Purchasers of shares of Common Stock and/or Pre-Funded Warrants exercisable
for shares of Common Stock sold in the Offering are not entitled to vote such shares of Common Stock or shares of Common Stock issuable
upon exercise of such Pre-Funded Warrants on the Issuance Proposal.

Potential Adverse Effects of Approving the Issuance Proposal

Following the Stockholder
Approval