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Petros Pharmaceuticals, Inc. a leading provider of therapeutics for men’s health, today announced the closing of its previously announced registered direct offering and private placement with the company’s largest investor and other existing investors for gross proceeds of approximately 10.0 million. Petros Pharmaceuticals intends to use the net proceeds from this offering for expansion of its men’s health platform and for working capital and general corporate purposes.
Katalyst Securities LLC acted as financial advisor to Petros Pharmaceuticals with respect to this transaction.
“This additional raise, in which our largest stockholder continues to participate, strongly positions us into the new year as we continue to drive forward our mission to expand the availability of STENDRA as well as to strategically expand our men’s health portfolio. This generous cash position will be instrumental in helping us to complete our plans toward becoming a leader in the men’s health category,” commented Fady Boctor, Petros Pharmaceuticals’ President and Chief Commercial Officer.
ABOUT PETROS PHARMACEUTICALS
Petros Pharmaceuticals is committed to the goal of becoming a world-leading specialized men’s health company by identifying, developing, acquiring, and commercializing innovative therapeutics for men’s health issues including, but not limited to erectile dysfunction, endothelial dysfunction, psychosexual and psychosocial ailments, Peyronie’s disease, hormone health and substance use disorders.
