Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 2

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 2
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Our Class A Ordinary Shares
is listed on the Nasdaq Capital Market under the symbol “APM.” The last reported sale price of the Class A Ordinary Shares
on December 4, 2025 was US$1.40 per Class A Ordinary Share.

We are aware that in recent years, the Chinese
government initiated a series of regulatory actions and statements to regulate business operations in China with little advance notice,
including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas
using variable interest entity (“VIE”) structure, adopting new measures to extend the scope of cybersecurity reviews,
and expanding the efforts in anti-monopoly enforcement. Since these regulatory actions and statements are new, it is highly uncertain
how soon legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed
implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified or new laws and regulations
will have on our business operations in Hong Kong, the ability to accept foreign investments and list on a U.S. or other foreign exchange.
Although currently our business is not affected under these regulatory actions, if the legislative or administrative regulation making
bodies change their focus to the sector which we operate in, it may impact our ability to conduct our business, accept foreign investments,
or list on a U.S. or other foreign exchange.

As of the date of this prospectus, we are also aware that the China
Security Regulatory Commission, or CSRC, promulgated the Trial Administrative Measures of Overseas Securities Offering and Listing by
Domestic Companies, or the Trial Measures, and five supporting guidelines thereto, which came into effect on March 31, 2023 and request
that the domestic companies that seek to offer or list securities overseas, both directly and indirectly, shall complete filing procedures
with the CSRC within three working days following its submission of confidential or public registration statement for initial public offerings
or listing. As of the date hereof, we maintain a contractual arrangement with one variable interest entity (the “VIE”): Libra
Sciences Limited, which is incorporated under the laws of the Cayman Islands, and although Aptorum holds a 97.27% economic interest and
31.51% voting power in Libra, in accordance with ASC 810, we previously concluded that we are not the primary beneficiary of Libra and
therefore we do not consolidate its financial statements into ours. Previously, we determined that