Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 391

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 391
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 U.S. Holder’s particular circumstances, including state and local
tax consequences, non-U.S. tax consequences, federal estate or gift tax consequences, alternative minimum tax consequences, the potential
application of the provisions of the Code known as the Medicare Contribution Tax, and tax consequences applicable to U.S. Holders subject
to special rules, such as:

| ● | banks and other financial institutions; |

| ● | insurance companies;                                                                |
| ● | dealers or traders in securities who use a mark-to-market method of tax accounting; |

| ● | persons holding Class A Ordinary Shares as part of a hedging transaction, “straddle,” wash sale, conversion transaction or integrated transaction or persons entering into a constructive sale with respect to the Class A Ordinary Shares; |

| ● | persons whose “functional currency” for U.S. federal income tax purposes is not the U.S. dollar; |

| ● | tax exempt entities, including “individual retirement accounts” and “Roth IRAs”; |

| ● | former citizens or long-term residents of the United States; |

| ● | entities or arrangements classified as partnerships for U.S. federal income tax purposes; |

| ● | regulated investment companies or real estate investment trusts; |

| ● | persons who acquired our Class A Ordinary Shares pursuant to the exercise of an employee share option or otherwise as compensation; |

| ● | persons that own or are deemed to own ten percent or more of our shares; and |

| ● | persons holding Class A Ordinary Shares in connection with a trade or business conducted outside the United States. |

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If an entity or arrangement
that is classified as a partnership for U.S. federal income tax purposes holds Class A Ordinary Shares, the U.S. federal income tax treatment
of such partnership and each partner thereof will generally depend on the status of the partner and the activities of the partnership.
Partnerships holding Class A Ordinary Shares and partners in such partnerships are encouraged to consult their tax advisors as to the
particular U.S. federal income tax consequences of purchasing, holding and disposing of Class A Ordinary Shares.

The discussion is based on
the Internal Revenue Code of 1986, as amended (the “Code”), the Treasury Regulations issued thereunder, and administrative
and judicial interpretations thereof, all as in effect on the date hereof and all of which are subject to change, possibly with retroactive
effect, or to different interpretation. Such change could materially and adversely affect the tax consequences described below.

For