---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-080765"
form_type: "8-K"
ticker: "PTPI"
cik: "0001815903"
company_name: "Petros Pharmaceuticals, Inc."
filed_at: "2023-07-13T23:59:59+00:00"
generated_at: "2026-06-13T08:51:35.831014+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Petros Pharmaceuticals raises $15M via private placement to advance OTC STENDRA

## Summary
- Issued 15,000 Series A Convertible Preferred shares (stated value $1,000 each) and warrants for up to 6,666,668 common shares at $2.25.
- Gross proceeds of $15M; cash on hand $8.3M (March 31, 2023); expect funding through end of 2024.
- Proceeds to support OTC switch program for STENDRA (erectile dysfunction) including FDA engagements and pivotal Label Comprehension Study.
- Placement led by largest existing shareholders; directors/officers holding ~29% of common stock agree to vote for Nasdaq approval.
- Closing expected July 17, 2023; Katalyst Securities served as placement agent (8% cash fee + warrants).

## SEC filing metadata
- accession: 0001104659-23-080765
- form_type: 8-K
- ticker: PTPI
- cik: 0001815903
- company_name: Petros Pharmaceuticals, Inc.
- filed_at: 2023-07-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1815903/000110465923080765/0001104659-23-080765-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1815903/000110465923080765/tm2321191d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-080765
- JSON: https://secwatch.observer/filing/0001104659-23-080765.json
- Plain text: https://secwatch.observer/filing/0001104659-23-080765.txt

## Key facts
- Material Agreements
  Petros Pharmaceuticals, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at $15 million (effective 2023-07-13).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain accredited investors
  - Value: $15 million
  - Effective: 2023-07-13
  source text: 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 newly-designated Series A Convertible Preferred Stock, with a par value of $0.0001 per share and a stated value of $1,000 per share, initially convertible into up to 6,666,668 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a conversion price of $2.25 per share (the “Preferred Shares”), and (ii) warrants to acquire up to an aggregate of 6,666,668 shares of Common Stock (the “Warrants”) at an exercise price of $2.25 per share (collectively, the “Private Placement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1815903/000110465923080765/0001104659-23-080765-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.