Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 257

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 257
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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 of6% per annum and a conversion price of $2.42per 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 preferred shares that the
Group owns (“ Collateral”) (Note 5). 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.

16. ORDINARY SHARES

On March 26, 2021, the Company entered into an
at-the-market offering agreement (the “ Sales Agreement”), with H. C. Wainwright & Co., LLC, acting as its sales agent
(the “ Sales Agent”), relating to the sale of its Class A Ordinary Shares (such offering, the “ ATM Offering”, or
“ At The Market Offering”). In accordance with the terms of the Sales Agreement, the Company may offer and sell shares of its
Class A Ordinary Shares having an aggregate offering price of up to $15,000,000from time to time through the Sales Agent under such prospectus
supplement and the accompanying prospectus. For the year ended December 31, 2023, the Company has issued215,959Class A Ordinary Shares
at average issuance price of $7.53per share pursuant to the ATM Offering with gross proceeds of $1.6million, less transaction costs
of $50,183.

F-28

APTORUM GROUP LIMITED

NOTES TO CONSOLIDATED FIN