Petros Pharmaceuticals Announces Closing of $ 7.5 Million Offer

Investors included the company’s largest shareholder

NEW YORK, December 28, 2021 Petros Pharmaceuticals, Inc. (Nasdaq: PTPI), a leading provider of men’s health therapeutics, today announced the closing of its previously announced registered direct offering and private placement from leading investor in the company and other existing investors for gross proceeds of approximately $ 7.5 million. . Petros Pharmaceuticals intends to use the net proceeds from this offering for the expansion of its men’s health platform and for working capital and general corporate needs.

Katalyst Securities LLC acted as financial advisor to Petros Pharmaceuticals in connection with this transaction.

“This latest increase, in which we are grateful that our largest shareholder continues to participate, creates our strongest cash position in the history of the Company through 2022, which we believe to be a critical part of our strategic plans. towards leadership in the men’s health category and allows us considerable flexibility and confidence in our ability to execute this strategy, ”commented Fady Boctor, President and Chief Commercial Officer of Petros Pharmaceuticals.

ABOUT PETROS PHARMACEUTICALS

Petros Pharmaceuticals is committed to becoming a leading specialty company in the field of men’s health by identifying, developing, acquiring and commercializing innovative therapies for men’s health issues including, but not limited to, erectile dysfunction, endothelial dysfunction, psychosexual and psychosocial conditions, Peyronie’s disease, hormonal health, and substance use disorders.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected” , “Budgets”, “planned”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions, or by the use of words or phrases which state that certain actions, events or results may, could, would or could occur or be achieved. Forward-looking statements consist of statements which are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future, such as statements regarding the intended use of the proceeds of the offering. These forward-looking statements are based on the beliefs of management as well as on the assumptions made by management and the information currently available. Actual results could differ materially from those contemplated by forward-looking statements due to certain factors, including, but not limited to, the ability of Petros Pharmaceuticals to execute its business strategy, including its development and commercialization plans. its product candidates; the ability of Petros Pharmaceuticals to comply with its obligations as a public information company; the ability of Petros Pharmaceuticals to implement quickly and efficiently the controls and procedures required by Section 404 of the Sarbanes-Oxley Act of 2002; the risk that the financial performance of Petros Pharmaceuticals will not be that anticipated by the merger operations leading to the creation of Petros Pharmaceuticals; risks resulting from Petros Pharmaceuticals’ status as an emerging growth company, including the fact that reduced disclosure requirements may make Petros Pharmaceuticals common stock less attractive to investors; risks associated with Petros Pharmaceuticals’ history of material losses; the risks associated with Petros Pharmaceuticals’ dependence on the marketing of a single product, Stendra®, and of a single distributor thereof; risks relating to the ability of Petros Pharmaceuticals to obtain sufficient quantities of Stendra® on a timely basis or on commercially viable terms; risks relating to Petros Pharmaceuticals’ ability to obtain regulatory approvals or market acceptance for any of its product or product candidates; and the expected or potential impact of the novel coronavirus pandemic, including the emergence of new variants, such as the Delta variant, and related responses from governments, consumers, customers, suppliers, employees and Petros Pharmaceuticals, on the business and operations of Petros Pharmaceuticals, employees, financial condition and results of operations. A discussion of these and other factors, including the risks and uncertainties regarding Petros Pharmaceuticals, and other factors described in the most recent Petros Pharmaceuticals Annual Report on Form 10-K, Quarterly Reports on Form 10 -Q and current reports on Form 8 -K filed with the Securities and Exchange Commission, which can be viewed at www.sec.gov. Petros Pharmaceuticals disclaims any intention or obligation to revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Cision

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SOURCE Petros Pharmaceuticals, Inc.

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