Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 153

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 153
---
 “ Offering”).

The Company agreed in the
Securities Purchase Agreement that, subject to certain exceptions, for thirty (30) calendar days following the closing of the Offering
(the “ Standstill Period”), it would not (i) issue, or enter into any agreement to issue or announce the issuance or proposed
issuance of any Ordinary Shares, or any securities of the Company or its subsidiaries which would entitle the holder thereof to acquire
at any time Ordinary Shares (the “ Ordinary Share Equivalents”), or (ii) file any registration statement or amendment or supplement
thereto, other than the Prospectus Supplement contemplated in the Securities Purchase Agreement and the filing of a registration statement
on Form S-8 in connection with any employee benefit plan. In addition, during the Standstill Period, subject to certain exceptions, the
Company is prohibited from effecting or entering into an agreement to effect any issuance by the Company or any of its subsidiaries of
Ordinary Shares or Ordinary Share Equivalents (or a combination of units thereof) involving a Variable Rate Transaction (as defined in
the Securities Purchase Agreement).

Private Placement Offerings

Sales of convertible notes

On December 9, 2022, the Company entered into a securities purchase
agreement with Aenco Technologies Limited (“ Aenco”). Pursuant to the securities purchase agreement, Aenco is purchasing a
convertible note in the original principal amount of $3,000,000 (the “ Dec 2022 Note”). The Dec 2022 Note is unsecured, convertible
into the Company’s restricted Class A Ordinary Shares at Aenco’s option. The Dec 2022 Notes have a maturity date of 12 months
subject to the Aenco’s extension, a bullet interest rate of 7% per annum, and a conversion price of $12.00 per Class A Ordinary
share. The Company shall have an obligation to repay the principal amount and interest of the Dec 2022 Note on the maturity date in cash
or in unregistered Class A Ordinary Shares or a combination of such at the Company’s discretion. In April 2023, Aenco transferred
the whole Dec 2022 Note to two external investors, and the two external investors fully converted the Dec 2022 Note into 250,000 Class
A Ordinary Shares.

On June 28, 2023, the Company entered into a securities purchase agreement
with 4 investors. Pursuant to the securities purchase agreement, the investors are purchasing a convertible note in the original