Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 14

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 14
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 our Class A Ordinary Shares and trading in our Class
A Ordinary Shares could be prohibited. While our auditor is based in the U.S. and is registered with the PCAOB and subject to PCAOB inspection,
in the event it is later determined that the PCAOB is unable to inspect or investigate completely our auditor because of a position taken
by an authority in a foreign jurisdiction, then such lack of inspection could cause trading in our Ordinary Shares to be prohibited under
the HFCA Act, and ultimately result in a determination by a securities exchange to delist our Ordinary Shares. On August 26, 2022, the
PCAOB signed a Statement of Protocol (the “SOP”) Agreement with the CSRC and China’s Ministry of Finance. The SOP Agreement,
together with two protocol agreements (collectively, “SOP Agreements”), governing inspections and investigations of audit
firms based in mainland China and Hong Kong, taking the first step toward opening access for the PCAOB to inspect and investigate registered
public accounting firms headquartered in mainland China and Hong Kong. Pursuant to the fact sheet with respect to the Protocol disclosed
by the SEC, the PCAOB shall have independent discretion to select any issuer audits for inspection or investigation and has the unfettered
ability to transfer information to the SEC. On December 15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete
access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong and voted to vacate
its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise fail to facilitate the PCAOB’s
access in the future, the PCAOB Board will consider the need to issue a new determination.

The Company now focuses all
of its efforts on R&D; it no longer performs any therapeutic services. While the Company may commence therapeutic services in the
future, as of December 31, 2024 and the date hereof, it only operates in one segment.

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Recent Events

Registered Direct Offering

On January 2, 2025, the Company
entered into a certain securities purchase agreement (the “Securities Purchase Agreement”) with certain non-affiliated institutional
investors pursuant to which the Company sold 1,535,000 Class A Ordinary Shares of the Company, par value $0.00001 per share at a per share
price of $2.00 for gross proceeds of $3,070,000