Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 188

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 188
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 convertible note in the original principal amount of $3,000,000 (the “ June 2023 Note”). The whole proceeds from the June
2023 Note was used to settle a related party loan. The June 2023 Note is unsecured, convertible into the Company’s restricted Class
A Ordinary Shares at the Note holder option. The June 2023 Notes have a maturity date of 12 months subject to the investors extension,
a bullet interest rate of 7% per annum, and a conversion price of $3.00 per Class A Ordinary share. The Company shall have an obligation
to repay the principal amount and interest of the June 2023 Note on the maturity date in cash or in unregistered Class A Ordinary Shares
or a combination of such at the Company’s discretion. Immediately following the issuance of June 2023 Note, the June 2023 Note was
fully converted into 1,000,000 Class A Ordinary Shares.

On September 11, 2023, the
Group entered into a securities purchase agreement with Jurchen Investment Corporation, the largest shareholder of the Company, pursuant
to which the Group sold a secured convertible note in the aggregate principal amount of $3,000,000 (the “ Sep 2023 Notes”).
The Sep 2023 Notes are convertible into the Company’s Class A Ordinary Shares and have a maturity date that is 24 months from the
issuance date, although upon such date the investor has the right to extend the term of the Sep 2023 Note for twelve (12) months or more
or such term subject to mutual consent. The Sep 2023 Notes have an interest rate of 6% per annum and a conversion price of $2.42 per share.
The Company has the right to repay the principal amount of the Sep 2023 Notes, but in the case of such prepayment it must be paid in cash,
unless otherwise agreed by both parties. The Sep 2023 Note is secured by a first priority lien and security interest on certain shares
that the Group owns (“ Collateral”). Upon the Group’s disposal of all or a portion of the Collateral, the investor has
the right, to request that the Group prepay the then-remaining outstanding balance of the Sep 2023 Note, in part or in full and the Group
can make that payment in cash or in shares.

On January 2, 2025, the Company
entered into a certain securities purchase agreement (the “ Securities