Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 71

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 71
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 our Ordinary Shares.

Raising additional capital may cause dilution
to our shareholders, restrict our operations or require us to relinquish rights to our technology or drug and diagnostics technology candidates.

We may seek additional funding
through a combination of equity offerings, debt financings, collaborations, licensing arrangements, strategic alliances and marketing
or distribution arrangements. To the extent that we raise additional capital through the sale of equity or convertible debt securities,
your ownership interest will be diluted, and the terms may include liquidation or other preferences that adversely affect your rights
as a holder of our Class A Ordinary Shares. The incurrence of additional indebtedness or the issuance of certain equity securities could
result in increased fixed payment obligations, and could also result in certain additional restrictive covenants, such as limitations
on our ability to incur additional debt or issue additional equity, limitations on our ability to acquire or license IP rights and other
operating restrictions that could adversely impact our ability to conduct our business. In addition, issuance of additional equity securities,
or the possibility of such issuance, may cause the market price of our Class A Ordinary Shares to decline. In the event that we enter
into collaborations or licensing arrangements to raise capital, we may be required to accept unfavorable terms, including relinquishing
or licensing to another party on unfavorable terms our rights to technology or drug and diagnostics technology candidates that we otherwise
would seek to develop or commercialize ourselves or potentially reserve for future potential arrangements when we might be able to achieve
more favorable terms.

Since we are a Cayman Islands exempted company,
the rights of our shareholders may be more limited than those of shareholders of a company organized in the United States.

Our corporate affairs are
governed by our Third Amended and Restated Memorandum and Articles of Association (as may be amended from time to time) (“ Memorandum
and Articles”), the Companies Act (As Revised) of the Cayman Islands (the “ Companies Law”) and the common law of the
Cayman Islands. The rights of shareholders to take action against the directors, actions by minority shareholders and the fiduciary
responsibilities of our directors are to a large extent governed by the common law of the Cayman Islands. This common law is derived in
part from comparatively limited judicial precedent in the Cayman Islands as well as from English common law, which has persuasive, but
not binding, authority on a court in the Cayman Islands. Under the laws of some jurisdictions in the United States, majority and
controlling shareholders generally