Petros Pharmaceuticals to be Acquired by Henry Crown for $3.25 per share

 Henry Crown and Company (“HCC”) and Petros Pharmaceuticals, Inc. (“Petros”) (Nasdaq: PTPI), a leading provider of therapeutics for men’s health, today announced that the companies have entered into a definitive agreement under which HCC will acquire Petros for $3.25 per share. Under the terms of the agreement, CVF, LLC, an affiliate managing HCC’s healthcare investments, will acquire all the outstanding shares of Petros for $3.25 per share in an all-cash transaction for a total equity value of approximately $67.2 million. The board of directors of Petros has unanimously approved the transaction.

The proposed transaction includes the acquisition of Petros Pharmaceuticals’ assets including:

• Avanafil:

  • Approved in the United States (U.S.), Canada, South America and India under the trade name STENDRA® for the treatment of erectile dysfunction
    
    

• H100™:

  • A nanoparticle-based topical candidate currently pursuing the 505(B)(2) pathway for the treatment of Peyronie’s disease, a condition impacting more than 1 in 10 men in the US
    
    

• A line of leading medical devices for the treatment of erectile dysfunction

“Petros Pharmaceuticals represents a major step forward in the creation of our healthcare investment platform,” said James S. Crown, President, Henry Crown and Company. “STENDRA®, a patented and leading prescription erectile dysfunction medicine in its class, coupled with Petros’ development pipeline and industry-leading portfolio of medical devices, offers hope for patients suffering from men’s health issues worldwide. We believe our healthcare platform is uniquely positioned to help the portfolio reach its full potential given our scale and capabilities, including advancing the RX-to-OTC switch for STENDRA® and internally developing the pipeline for H100™.”

https://finance.yahoo.com/news/petros-pharmaceuticals-acquired-henry-crown-132500455.html