Petros subsidiary defaults on $7.25M note; Vivus forecloses on collateral for $2M partial satisfaction

Petros Pharmaceuticals, Inc.

Metuchen failed to pay installment due Oct 1, 2024; all obligations accelerated.
Outstanding principal $7,246,634.90 plus interest $237,300.35 at default rate of 9%.
Secured party Vivus LLC proposed acceptance of foreclosed collateral in partial satisfaction of $2M obligations.
Metuchen agreed to foreclosure on Dec 13, 2024; remaining obligations continue.
Collateral excludes a Specified License Agreement; no other terms disclosed.

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