Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 405

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 405
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) of the Code and that (subject to the Section 367(b) rules and the PFIC rules discussed below)
U.S. Holders of Company shares will not recognize gain or loss on the exchange of those shares for Purchaser stock. U.S. Holders should
be aware that Company has not requested and does not intend to request a ruling from the IRS with respect to the U.S. federal income tax
treatment of the Domestication. There can be no assurance that the IRS will not take a contrary position to our counsel’s opinion
or that a court will not agree with a contrary position of the IRS.

Subject to the discussions of the Section
367 rules and the PFIC rules, below, it is therefore the opinion of our counsel that the consequences of the Domestication exchange are
as follows:

A U.S. Holder of Company shares will
not recognize a gain or loss on the exchange of his Company shares for Purchaser stock.

The U.S. Holder’s tax basis in
his Purchaser stock will be the same as his adjusted basis in his Company shares.

Following the exchange, the U.S. Holder’s
holding period in his Purchaser stock will include the period of time that he held his Company shares.

U.S. Holders should note that if the
Domestication is a qualified reorganization under Section 368(a)(1)(F), then, since a U.S. Holder retains his basis in his Company shares
as his basis in his stock, the U.S. Holder will realize a gain in an amount equal to the excess (if any) of the fair market value of the
assets received by him in the DiamiR Merger over his carryover basis in his Company stock.

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Effect of Section 367 on the Domestication for U.S. Holders of Company Shares

Code section 367(b) applies
to certain non-recognition transactions involving foreign corporations, including a domestication of a foreign corporation in a transaction
that qualifies as a Section 368(a)(1) reorganization. When it applies, Section 367(b) imposes income tax on certain U.S. persons in connection
with transactions that would otherwise be tax-free. Section 367(b) will apply to certain U.S. Holders who exchange Company shares for
Purchaser Common Stock as part of the Domestication.

A. “U.S. Shareholders” of Company

A U.S. Holder who on the day
of the Domestic