Petros receives Nasdaq equity deficiency delisting notice; shareholders approve massive share increase and reverse split

Petros Pharmaceuticals, Inc.

Nasdaq notified Petros on Apr 8 it fails $2.5M minimum stockholders' equity requirement, adding to existing bid price deficiency.
All delisting actions stayed pending hearing before Nasdaq Hearings Panel; company intends to address concerns.
At special meeting Apr 10, stockholders approved increasing authorized common shares from 250M to 7B.
Also approved reverse stock split at ratio of 1-for-250 to 1-for-500, at Board's discretion.
Approved increase in incentive plan shares by 1B to 1,002,760,000, and issuance of shares underlying Series Warrants from Feb 2025 offering (approx 1.06B shares).

item 3.01 item 3.03 item 5.03 item 5.02 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Petros Pharmaceuticals, Inc.: Increased authorized shares of Common Stock from 250,000,000 to 7,000,000,000 and made a corresponding change to total authorized capital stock shares (effective 2025-04-11).

Change: charter amendment
Effective: 2025-04-11

Exact text from the filing

the Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Share Increase Amendment”) to increase the number of authorized shares of the Common Stock from 250,000,000 shares to 7,000,000,000

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Petros Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-034283

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