Petros subsidiary settles VIVUS disputes, issues $10.2M promissory note at 6% through 2027

Petros Pharmaceuticals, Inc.

Metuchen settles with VIVUS, forgives $9.6M in liabilities and retains ~$7.3M of API inventory.
Issues $10,201,758 promissory note at 6% interest, payable quarterly from Apr 2022 to Jan 2027.
License amended: VIVUS gets co-exclusive rights to Stendra but forbears from exercising unless default.
Metuchen must pay $900k toward note and $1.54M for 2021 purchase order to release inventory.
VIVUS granted right of first refusal on future debt/convertible equity financings until note paid in full.

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