Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 118

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 118
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of Libra and have to consolidate them into our consolidated financial statements, Libra and such entity’s financial results were
negative, this could have a corresponding negative impact on our operating results. This could be because Libra is indebted to us and
its operational performance or inability to generate sufficient cash flows. The Company’s maximum exposure to loss resulting from
its involvement with Libra is nil for the six months ended June 30, 2025 and the year ended December 31, 2024 and $961 for the year
ended December 31, 2023 which was the amount due from Libra.

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The economic substance legislation of the Cayman Islands may adversely impact us or our operations.

The Company is subject to Cayman
Islands economic substance legislation (“ESA”) requiring that where the Company carries on a relevant activity (as defined
in the ESA) it must maintain economic substance within the Cayman Islands, including adequate premises and employees within the Cayman
Islands. As an entity subject to the ESA, the Company is required to assess its operations to determine the required compliance (if any)
with the ESA, to file an annual notification with the Cayman Islands Registrar of Companies disclosing whether the Company is carrying
out any relevant activities within the meaning of the ESA and an annual return with the Department of International Tax Co-Operation.
Where applicable, the Company must establish that its operations satisfy the economic substance requirements of the ESA. The Company
is required to monitor its operations to ensure it remains in compliance with all requirements under the ESA. Failure to satisfy
these requirements may subject the Company to penalties under the ESA.

Risks Related to Aptorum’s Securities

If we fail to comply with the continued listing requirements of Nasdaq Capital Market, we would face possible delisting, which would result in a limited public market for our shares and make obtaining future debt or equity financing more difficult for us.

On July 31, 2023, the
Company requested to transfer its Aptorum Class A ordinary shares from the Nasdaq Global Market to the Nasdaq Capital Market. On
August 8, 2023, the Company received an approval letter (the “Nasdaq Approval Letter”) from the Nasdaq Listing Qualifications
Department indicating that the staff has approved the Company’s application to transfer its Aptorum Class A ordinary shares
to the Nasdaq Capital Market. The Company’s securities have been transferred to the Nasdaq Capital Market at the opening of business