Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 362

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 362
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 | entities or arrangements classified as partnerships for U.S. federal income tax purposes; |

| ● | regulated investment companies or real estate investment trusts; |

| ● | persons who acquired our Class A Ordinary Shares pursuant to the exercise of an employee share option or otherwise as compensation; |

| ● | persons that own or are deemed to own ten percent or more of our shares; and |

| ● | persons holding Class A Ordinary Shares in connection with a trade or business conducted outside the United States. |

226 If an entity or arrangement that is classified as a partnership for U.S. federal income tax purposes holds Class A Ordinary Shares, the U.S. federal income tax treatment of such partnership and each partner thereof will generally depend on the status of the partner and the activities of the partnership. Partnerships holding Class A Ordinary Shares and partners in such partnerships are encouraged to consult their tax advisors as to the particular U.S. federal income tax consequences of purchasing, holding and disposing of Class A Ordinary Shares. The discussion is based on the Internal Revenue Code of 1986, as amended (the “Code”), the Treasury Regulations issued thereunder, and administrative and judicial interpretations thereof, all as in effect on the date hereof and all of which are subject to change, possibly with retroactive effect, or to different interpretation. Such change could materially and adversely affect the tax consequences described below. For purposes of this brief discussion, a “U.S. Holder” is a holder who, for U.S. federal income tax purposes, is a beneficial owner of Class A Ordinary Shares or warrants and that is:

| (1) | an individual citizen or resident of the United States;                                                                                                                                                                                                                                                                                 |
| (2) | a corporation, or other entity taxable as a corporation, created or organized in or under the laws of the United States, any state therein or the District of Columbia;                                                                                                                                                                 |
| (3) | an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or                                                                                                                                                                                                                                  |
| (4) | a trust, (i) if a court within the United States is able to exercise primary supervision over its administration and one or more “U.S. persons” (within the meaning of the Code) have the authority to control all of its substantial decisions, or (ii) if a valid election is in effect for the trust to be treated as a U.S. person. |

U.S. Holders are encouraged to consult their tax advisors concerning the U.S. federal, state,