Petros Pharmaceuticals Enters Material Definitive Agreement

TL;DR

Petros Pharma just signed a big deal, filing an 8-K with new agreements and financials.

AI Summary

On March 21, 2024, Petros Pharmaceuticals, Inc. entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. The specific details of the agreement and the financial implications are not fully disclosed in this initial 8-K filing.

Why It Matters

This filing indicates a significant new development for Petros Pharmaceuticals, potentially impacting its business operations and financial future.

Risk Assessment

Risk Level: medium — The filing signals a material event, but the lack of specific details about the agreement introduces uncertainty.

Key Players & Entities

• Petros Pharmaceuticals, Inc. (company) — Registrant
• March 21, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share PTPI The Nasdaq Stock Marke
• $1,000 — Preferred Stock, with a stated value of $1,000 per share (the "Preferred Shares"), and

Filing Documents

• tm249589d1_8k.htm (8-K) — 24KB
• tm249589d1_ex10-1.htm (EX-10.1) — 21KB
• 0001104659-24-037906.txt ( ) — 222KB
• ptpi-20240321.xsd (EX-101.SCH) — 3KB
• ptpi-20240321_lab.xml (EX-101.LAB) — 33KB
• ptpi-20240321_pre.xml (EX-101.PRE) — 22KB
• tm249589d1_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

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) an aggregate of 15,000 shares of the Company's Series A Convertible Preferred Stock, with a stated value of $1,000 per share (the "Preferred Shares"), and (ii) warrants to acquire up to an aggregate of 6,666,668 shares of the Company's common stock, subject to adjustment (the "Warrants"). The terms of the Preferred Shares are as set forth in the Certificate of Designations filed with the Secretary of State for the State of Delaware on July 14, 2023 (the "Certificate of Designations"). On March 21, 2024, the Company entered into an Omnibus Waiver and Amendment (the "Waiver and Amendment") with the Investors, effective as of December 31, 2023. The Waiver and Amendment provides that certain equity awards granted to directors, officers, employees of the Company under the Company's 2020 Omnibus Incentive Compensation Plan are deemed to constitute "Excluded Securities" under the Transaction Documents (as such term is defined in the Purchase Agreement) and waives the applicability of certain other provisions of the Transaction Documents with respect to such grants. The Waiver and Amendment also amends certain terms of the Warrants relating to the rights of the holders of the Warrants in connection with a Fundamental Transaction (as defined in the Warrants). The foregoing description of the Waiver and Amendment is qualified in its entirety by reference to the full text of the Waiver and Amendment, a form of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Description 10.1 Form of Omnibus Waiver and Amendment, dated March 21, 2024, by and between Petros Pharmaceuticals, Inc. and the investors party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PETROS PHARMACEUTICALS, INC. Date: March 22, 2024 By: /s/ Fady Boctor Name: Fady Boctor Title: President and Chief Commercial Officer

View Full Filing

View this 8-K filing on SEC EDGAR