Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 68

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 68
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 regain compliance with the specified
rule.

If the Company fails to regain compliance with this rule or any other
listing rules when required in the future, we could be subject to suspension and delisting proceedings. If our securities lose their status
on the Nasdaq Capital Market, our securities would likely trade in the over-the-counter market. If our securities were to trade on the
over-the-counter market, selling our securities could be more difficult because smaller quantities of securities would likely be bought
and sold, transactions could be delayed, and security analysts’ coverage of us may be reduced. In addition, in the event our securities
are delisted, broker-dealers have certain regulatory burdens imposed upon them, which may discourage broker-dealers from effecting transactions
in our securities, further limiting the liquidity of our securities. These factors could result in lower prices and larger spreads in
the bid and ask prices for our securities. Such delisting from the NASDAQ Capital Market and continued or further declines in our share
price could also greatly impair our ability to raise additional necessary capital through equity or debt financing, and could significantly
increase the ownership dilution to shareholders caused by our issuing equity in financing or other transactions.

Class A Ordinary Shares eligible for future
sale may adversely affect the market price of our Class A Ordinary Shares if the shares are successfully listed on NASDAQ or other stock
markets, as the future sale of a substantial amount of outstanding Class A Ordinary Shares in the public marketplace could reduce the
price of our Class A Ordinary Shares.

The market price of our Class
A Ordinary Shares could decline as a result of sales of substantial amounts of our Class A Ordinary Shares in the public market, or the
perception that these sales could occur. In addition, these factors could make it more difficult for us to raise funds through future
offerings of our Class A Ordinary Shares. An aggregate of 5,346,823 Class A Ordinary Shares are outstanding as of the issuance date of
this annual report. 4,950,322 of the Class A Ordinary Shares are freely transferable without restriction or further registration under
the Securities Act. The remaining Class A Ordinary Shares will be “restricted securities” as defined in Rule 144. These Class
A Ordinary Shares may be sold without registration under the Securities Act to the extent permitted by Rule 144 or other exemptions under
the Securities Act.

A sale or perceived sale of a substantial
number of our Ordinary Shares may cause the price of our Class A Ordinary Shares to decline.

If our shareholders