Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 256

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 256
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,407  
  Less: Current portion of operating lease liabilities                        ( 102,225  
  Non-current portion of operating lease liabilities        $                    14,182  

15. CONVERTIBLE NOTE

On December 9, 2022, the Group entered into a
securities purchase agreement with Aenco Technologies Limited (“ Aenco”). Pursuant to the securities purchase agreement, Aenco
is purchasing a convertible note in the original principal amount of $3,000,000(the “ Dec 2022 Note”). The Dec 2022 Note is
unsecured, convertible into the Company’s restricted Class A Ordinary Shares at Aencco’s option. The Dec 2022 Notes have a
maturity date of 12 months subject to the Aenco’s extension, a bullet interest rate of7% per annum, and a conversion price of $12.00per Class A Ordinary share. The Company shall have an obligation to repay the principal amount and interest of the Dec 2022 Note on the
maturity date in cash or in unregistered Class A Ordinary Shares or a combination of such at the Company’s discretion. In April
2023, Aenco transferred the whole Dec 2022 Note to two external investors, and the two external investors fully converted the Dec 2022
Note into250,000Class A Ordinary Shares.

On June 28, 2023, the Group entered into a securities
purchase agreement with 4 investors. Pursuant to the securities purchase agreement, the investors are purchasing a 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 holders’ option. The June 2023 Notes have a maturity date of 12 months subject to the investors extension, a bullet
interest rate of7% per annum, and a conversion price of $3.00per 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
into1,000,000Class A Ordinary Shares.

On September 11,