Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 392

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 392
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 condensed combined financial statements:

| (a) | Gives                                                                                                                                       
 pro forma effect to the closing of the Offering and, accordingly, reflects the issuance of 1,000,000 Class A ordinary shares and 2,000,000  
 Investor Warrants for gross proceeds of $2,000,000. The Company determined that the Investor Warrants are classified as warrant liabilities 
 and, accordingly, allocated the proceeds between the Investor Warrants, which had an estimated fair value of $1,260,000,                    
 with the balance of $740,000 allocated to the Class A ordinary shares.                                                                      |

| (b) | The Company recognized the issuance costs                                                                                                  
 attributable to the Offering, which included cash costs of $284,001 and non-cash costs associated with the fair value of the Placement     
 Agent Warrants of $37,312 which are classified as warrant liabilities, by allocating to the Class A ordinary shares and Investor Warrants. 
 Issuance costs allocated to the Class A ordinary shares of $118,885 were recognized as a reduction of additional paid-in capital and       
 issuance costs allocated to the Investor Warrants of $202,428 were recognized as expense and included in general and administrative fees   
 during the year ended December 31, 2024.                                                                                                   |

| (c) | Convertible notes due to shareholders in                                                                                                   
 the amount of $4,286,162 are to be converted into 1,338,223 shares of common stock in connection with the consummation of the Acquisition. |

| (d) | The Acquisition is considered as a business combination and is accounted for using the acquisition method in accordance with ASC 805, “Business Combinations” as the directors of the Company believe that the Target acquired constitutes a business in accordance with ASC 805. The Acquisition will enable the Group to further its business strategies. |

Upon completion of the Acquisition, Aptorum would hold 100% of the Target Company’s equity interest and obtain control over the Target Company. Accordingly, the Target Company would become a subsidiary of the Company. For the purpose of preparing the unaudited pro forma condensed combined financial information, the directors of the Company had assumed that with the exception of intangible assets (details set out below), the pro forma fair value of the identifiable assets and liabilities of the Target Group as at June 30, 2025 are substantially the same as their respective carrying amounts as at June 30, 2025. The Group has applied the acquisition method in accordance with ASC