Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 32

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 32
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 need to raise significant additional financing for 
 future clinical and commercial development;                                                                                     |

| ● | the low valuation of the Company on a stand-alone basis currently    
 evidenced by the trading price of Company’s Class A ordinary shares; |

| ● | the strategic alternatives to the Merger, including the discussions                                                                 
 that Company’s management and advisors previously conducted with other potential partners, and the lack of any viable alternatives; 
 and                                                                                                                                 |

| ● | the view of Company that the consideration is fair, from a                    
 financial point of view, to the holders of Company’s Class A ordinary shares. |

The Company’s board of directors believed that, as a result of arm’s length negotiations with DiamiR, Company and its management team negotiated the most favorable implied value and equity split for its stockholders that DiamiR was willing to agree to, and that the terms of the Merger Agreement include the most favorable terms to Company in the aggregate to which DiamiR was willing to agree. Immediately prior to signing the Merger Agreement, Company’s stock price was $0.94 per share, as quoted on Nasdaq on July 11, 2025. Aptorum and DiamiR agreed that DiamiR would have a valuation of $18.7 million at the time of closing of the Merger.

11

The Company board of directors also believed, after a thorough review of strategic alternatives and discussions with Company’s senior management and legal counsel, that the Merger is more favorable to its stockholders than the potential value that might have resulted from other strategic options available to Company, which would likely be a delisting of the Company’s Class A ordinary shares from Nasdaq if the Merger is not consummated. After giving consideration to these and other factors, the Company board of directors approved the Merger, which the Company board of directors believes better positions Company for long-term success. DiamiR’s Reasons for the Merger DiamiR’s decision to proceed with the strategic combination with Aptorum Group, is based on the following considerations:

| ● | DiamiR Biosciences has experience in microRNA (miRNA) biomarker                                                                         
 discovery and validation and experience in miRNA testing, characterization and quantification; DiamiR’s prospective biopharma services  
 partners and customers are life sciences companies developing therapeutic treatments; Aptorum has accumulated significant knowledgebase 
 in drug development processes and appreciates the importance of biomarkers as tools to quantify drug response, progression and target   
 engagement;                                                                                                                             |

| ● |