Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 122

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 122
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 Company and their interests may not be aligned with the interests of our other shareholders.

We have a dual-class voting
structure consisting of Aptorum Class A ordinary shares and Aptorum Class B ordinary shares. Under this structure, holders of
Aptorum Class A ordinary shares are entitled to one vote per share, and holders of Aptorum Class B ordinary shares are entitled
to one hundred votes per share, which can cause the holders of Aptorum Class B ordinary shares to have an unbalanced, higher concentration
of voting power. Ian Huen, Aptorum’s current Chairman and Chief Executive Officer, through his ownership of Jurchen, beneficially
owning over 1.6 million Aptorum Class B ordinary shares, owns approximately 86.7% voting power in Aptorum. As a
result, until such time as his voting power is below 50%, he has substantial influence over our business, including decisions regarding
mergers, consolidations and the sale of all or substantially all of our assets, election of directors and other significant corporate
actions. He may take actions that are not in the best interests of us or our other shareholders. These corporate actions may be taken
even if they are opposed by our other shareholders. Further, concentration of ownership of our Aptorum Class B ordinary shares may
discourage, prevent or delay the consummation of change of control transactions that shareholders may consider favorable, including transactions
in which shareholders might otherwise receive a premium for their shares. Future issuances of Aptorum Class B ordinary shares may
also be dilutive to the holders of Aptorum Class A ordinary shares. As a result, the market price of Aptorum Class A ordinary
shares could be adversely affected.

Shareholders who hold shares
of Aptorum Class B ordinary shares, including our executive officers and their affiliates, hold approximately 97% of the voting power
of our outstanding ordinary shares. Because of the one hundred-to-one voting ratio between our Class B and Aptorum Class A ordinary
shares, the holders of our Aptorum Class B ordinary shares will collectively continue to control a majority of the combined voting
power of Aptorum’s ordinary shares and therefore be able to control all matters submitted to our shareholders for approval, so long
as the Aptorum Class B ordinary shares represent at least 1.0% of all outstanding shares of Aptorum’s 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