Petros Pharmaceuticals prices 40M shares at 24c in public offering

Petros Pharmaceuticals (PTPI) announces the pricing of a public offering of approximately 40,000,000 shares of the Company’s common stock, par value $0.0001 per share, with each share of Common Stock accompanied by a Series A Warrant to purchase 0.25 share of Common Stock at an exercise price of $0.48 per 0.25 share and a Series B Warrant to purchase one share of Common Stock at an exercise price of $0.48 per share. The combined public offering price of each share of Common Stock together with the accompanying Series A Warrant and Series B Warrant is $0.24, and the combined public offering price of each pre-funded warrant together with the accompanying Series A Warrant and Series B Warrant is $0.2399, which represents the per share offering price for the Common Stock less the $0.0001 per share exercise price for each pre-funded warrant. The closing of the public offering is expected to occur on or about February 19, 2025, subject to the satisfaction of customary closing conditions. Dawson James Securities is acting as the exclusive placement agent for the public offering. The gross proceeds of the public offering are expected to be approximately $9.6 million before deducting estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.