Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 197

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 197
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 issuance of common stock, including shares issued pursuant to an earn -outprovision or similar type of provision, or securities convertible into or exercisable for common stock, such securities are not issued in a public offering for cash and (A) have, or will have upon issuance, voting power equal to or in excess of 20% of the voting power outstanding before the issuance of common stock (or securities convertible into or exercisable for common stock); or (B) the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities, in either case at a price less than the greater of book or market value of the common stock. Upon the consummation of the Merger, Aptorum Delaware expects to issue, in exchange for DiamiR common stock, [] shares of Aptorum Delaware common stock, which will exceed 20% of the outstanding shares of Aptorum Delaware common stock prior to such issuance and may be at a price less than the greater of book or market value of Aptorum Delaware’s common stock at such time. Therefore, to ensure compliance with Nasdaq Rule 5635(d), Aptorum is seeking shareholder approval of the issuance. Vote Required for Approval The approval of the Nasdaq Stock Issuance Proposal requires an ordinary resolution under Cayman Islands law, being the affirmative vote of a simple majority of the votes cast by the holders of Aptorum Class A ordinary shares and Aptorum Class B ordinary shares, voting as a class, present in person or represented by proxy at the Special Meeting and entitled to vote, is required to approve the Nasdaq Stock Issuance Proposal. Abstentions and broker -nonvotes, if any, will have no effect on the Nasdaq Stock Issuance Proposal. However, as described elsewhere, Ian Huen, Aptorum’s Chairman and Chief Executive Officer, who beneficially owns 87.05% of Aptorum’s total voting power as of October3, 2025, signed a voting agreement simultaneously with the execution of the Merger Agreement, pursuant to which he agreed to vote in favor of the Proposals. Accordingly, the Nasdaq Stock Issuance Proposal will be approved after Mr. Huen casts his vote; no other vote will be needed to approve this proposal. The approval of the Nasdaq Stock Issuance Proposal is a condition to the closing under the Merger Agreement. If the Nasdaq Stock Issuance Proposal