Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 111

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 111
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 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 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 Class B Ordinary Shares may also be dilutive
to the holders of Class A Ordinary Shares. As a result, the market price of our Class A Ordinary Shares could be adversely affected.

Shareholders who hold shares
of 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 Class A Ordinary Shares, the holders of our Class
B Ordinary Shares will collectively continue to control a majority of the combined voting power of our Ordinary Shares and therefore be
able to control all matters submitted to our shareholders for approval, so long as the Class B Ordinary Shares represent at least 1.0%
of all outstanding shares of our Ordinary Shares.

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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