Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 51

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 51
---
 Company’s assets, as well as prohibitions on its ability to create liens, pay dividends, redeem its stock or make investments. In addition, if the Combined Company raises additional funds through licensing, partnering or other strategic arrangements, it may be necessary to relinquish rights to some of the Combined Company’s technologies or product candidates and proprietary rights, or grant licenses on terms that are not favorable to the Combined Company. The Combined Company’s failure to raise capital as and when needed would have a negative effect on its financial condition and its ability to develop and commercialize its pipeline and otherwise pursue the Combined Company’s business strategy and the Combined Company may be unable to continue as a going concern. 26 Anti-takeover provisions in the Proposed Charter and the Proposed Bylaws and under Delaware law could make an acquisition of the Combined Company, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove the Combined Company’s management. The Proposed Charter and the Proposed Bylaws, each of which will be in effect upon completion of the Merger, and the DGCL contains provisions that could make it more difficult for a third party to acquire the Combined Company, even if doing so might be beneficial to the Combined Company’s stockholders. Among other things, these provisions include:

| ● | allow the Combined Company Board to authorize the issuance                                                                                 
 of undesignated preferred stock, the terms of which may be established and the shares of which may be issued without stockholder approval, 
 and which may include supermajority voting, special approval, dividend, or other rights or preferences superior to the rights of other     
 stockholders;                                                                                                                              |

| ● | provide that, at any time, directors may only be removed for                                                                          
 cause, and only by the affirmative vote of holders of at least 66 2/3% in voting power of all the then-outstanding shares of Combined 
 Company Common Stock entitled to vote thereon, voting together as a single class;                                                     |

| ● | prohibit stockholder action by written consent; |

| ● | provide that special meetings may only be called by or at                                                               
 the direction of the Chairman of the Combined Company Board, the Combined Company Board or the Chief Executive Officer; |

| ● | provide that any alteration, amendment or repeal, in whole                                                                        
 or in part, of any provision of the Proposed Bylaws by Combined Company’s stockholders will require the affirmative vote of the   
 holders of at least 66⅔% in voting power of all