Petros Pharmaceuticals enters General Assignment for Benefit of Creditors, ceases operations

Petros Pharmaceuticals, Inc.

On September 30, 2026, Petros Pharmaceuticals entered a General Assignment for the Benefit of Creditors, assigning assets to PT Liquidation, LLC.
The assignment is a liquidation event; the company ceased substantially all business operations and no longer has ability to continue as a going concern.
Item 2.04: Assignment triggered defaults/obligations, may make outstanding obligations immediately due and requires immediate redemption of all Series A Convertible Preferred Stock.
Board resignations effective Sept 30, 2026: Joshua N. Silverman, Bruce T. Bernstein, Wayne R. Walker; Fady Boctor terminated as President/CCO; Robert Weinstein resigned as CAO/PFO/PAO.
The Company said resignations/termination were not due to disagreement with the Company on operations, policies, or practices.

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