Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 47

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 47
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 the Merger that are different from yours, including, among others, the continued service as an officer or director of the Combined Company, continued indemnification and the potential ability to sell an increased number of shares of the Combined Company in accordance with Rule 144 under the Securities Act. These interests, among others, may influence the officers and directors of Aptorum and DiamiR to support or approve the Merger. No fairness opinion was obtained in connection with the Merger. In connection with determination of consideration of the Merger, Aptorum did not request any independent investment banker or other professional to provide a fairness opinion. The consideration to be received by the holders of DiamiR securities in the Merger was reached through negotiation by Aptorum and DiamiR, and was found to be fair to the stockholders of Aptorum by Aptorum’s board of directors. In determining whether to obtain a fairness opinion in connection with consideration of the merger, Aptorum’s board considered the cost of such an opinion as well as, among other factors, the extensive negotiations with DiamiR by Aptorum and DiamiR, the board’s assessment of the prospects for DiamiR based on its evaluation of its intellectual property and the valuation of DiamiR implicit in its prior financings, when compared to and in light of Aptorum’s current market value and its financial position. The market price of the Combined Company’s shares may decline as a result of the Merger. The market price of the Combined Company’s shares may decline as a result of the Merger for a number of reasons, including if:

| ● | the Combined Company does not achieve the perceived benefits                             
 of the Merger as rapidly or to the extent anticipated by financial or industry analysts; |

| ● | the effect of the Merger on the Combined Company’s business                                 
 and prospects is not consistent with the expectations of financial or industry analysts; or |

| ● | investors react negatively to the effect on the Combined Company’s 
 business and prospects from the Merger.                            |

24 Aptorum and DiamiR shareholders may not realize a benefit from the Merger commensurate with the ownership dilution they will experience in connection with the Merger. If the Combined Company is unable to realize the strategic and financial benefits currently anticipated from the Merger, Aptorum shareholders will have experienced substantial dilution of their ownership interest without receiving any commensurate benefit. Significant management attention and resources will be required to operate the two companies. Delays in this process could adversely affect the Combined Company’s