Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 495

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 495
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 As of June30, 2025 and December31, 2024, re-measurement gain amounted to $ have been made to the investment in Alzheon according to the most recent transaction price which were deemed as observable price changes in orderly transactions for the identical or similar investment of the same issuer. The carrying value of the investment with Alzheon was $ as of June30, 2025 and December31, 2024.

The Group totally recorded $ impairment for two investments as of June30, 2025 and December31, 2024 since the Group considered the investees’ ability to continue as a going concern and the investment is not recoverable. The carrying value of these two investments was $nil as of December31, 2024 and 2023, respectively.

F-41

APTORUM GROUP LIMITED NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Stated in U.S. Dollars) 4. LONG-TERM INVESTMENT AND FAIR VALUE MEASUREMENT (cont.) The Group did not transfer any non -marketableinvestments into marketable securities during the six months ended June 30, 2025 and 2024. For the six months ended June 30, 2025 and year ended December 31, 2024, one of the non -marketableinvestments with initial cost of $ 2.6million and had a carrying value of $ 15.1million was pledged for a convertible note issued to a related party (Note 15). Equity method investment, fair value option In December 2021, one of the Group’s subsidiaries, Libra Sciences Limited (“Libra”, formerly known as Aptorum Pharmaceutical Development Limited), issued Class A and Class B ordinary shares to various parties in exchange of licenses or cash. Each Class A share of Libra is entitled to 1 vote while each Class B share of Libra is entitled to 10 votes.Upon the share issuance, the Group was holding 97.27% economic interest and 31.51% voting power in Libra. The Group lost the controlling interest in Libra because it was transferred to a third party, and therefore deconsolidated Libra. However, the Group still owns 97.27% economic interest and 31.51% voting power, which is deemed as having significant influence over Libra. As a result, the Group’s investment in Libra is subject to the equity method of accounting. The