Company: APM
Filing Date: 2025-10-14
Form Type: 424B5
Source: 0001213900-25-098635
Chunk: 59

Company: Aptorum Group Ltd
Filing Date: 2025-10-14
Form: 424B5
Chunk 59
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 Wainwright and the placement agent in the registered direct offering closed on February 28, 2020, upon exercise of the warrants issued on October 2, 2020; |
| ● | 54,054 Class A Ordinary Shares issuable to Jurchen Investment Corporation, the largest shareholder of the Company, upon exercise of warrants issued on February 28, 2020; and                                     |
| ● | 1,301,033 Class A Ordinary Shares issuable to Jurchen Investment Corporation upon exercise of convertible bonds issued on September 11, 2023.                                                                     |

<div align='center'>S-33

RISK FACTORS</div>

Investing in our securities
involves a high degree of risk. You should carefully consider the risk factors set forth under “Risk Factors” described in
our most recent annual report on Form 20-F, filed on April 30, 2025, as supplemented and updated by subsequent current reports on Form
6-K that we have filed with the SEC, and any applicable prospectus supplement and in any related free writing prospectus in connection
with a specific offering, before making an investment decision. Each of the risk factors could materially and adversely affect our business,
operating results, financial condition, and prospects, as well as the value of an investment in our securities, and the occurrence of
any of these risks might cause you to lose all or part of your investment.

In addition to the risk factors
referenced above, we want to disclose the additional risk factors below.

Risks Related to This Offering

We have broad discretion in the use of the net proceeds of this offering and may not use them effectively.

We intend to use the net proceeds of this offering for general corporate purposes and working capital. We may also use a portion of the net proceeds of this offering to acquire other products or businesses, although we are not currently a party to an agreement regarding any such acquisition. However, our management will have broad discretion in the application of the net proceeds from this offering and will have the right to use the net proceeds for purposes that differ substantially from our current plans. Management may spend the net proceeds in ways that do not improve our results of operations or enhance the value of our Class A Ordinary Shares. The failure by management to apply these funds effectively could result in financial losses that could have a material and adverse effect on our business and cause the price of our Class A Ordinary Shares to decline.

Existing shareholders will experience immediate and substantial dilution in the net tangible