Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 36

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 36
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 could decline and you could lose part or all of your investment.

RISKS RELATED TO THE MERGER

If the Merger Agreement with DiamiR is not consummated, Aptorum’s share price could decline.

The
consummation of the Merger with DiamiR is subject to a number of closing conditions, including the completion of the Domestication, conversion
of all outstanding convertible debt of ours and DiamiR’s, approval by our shareholders, completion of review by Nasdaq of Aptorum’s
listing of additional securities application of the shares of common stock of the combined company to be issued in connection with the
closing of the Merger, and other customary closing conditions. In addition, at the closing date of the Merger, Aptorum should maintain
an aggregate amount of unrestricted cash and cash equivalents of not less than $2,260,000, and an amount of Working Capital (as defined
in the Merger Agreement) of not less than $1,644,000.The Company is targeting a closing of the transaction in the fourth quarter of 2025.

If
the DiamiR Merger is not consummated, Aptorum may be subject to a number of material risks, and its share price could be adversely affected,
as follows:

| ● | Aptorum                                                                                                                                
 has incurred and expects to continue to incur significant expenses related to the Merger with DiamiR, even if the DiamiR Merger is not 
 consummated.                                                                                                                           |

| ● | The                                                                                                                                         
 Merger Agreement contains covenants restricting Aptorum’s solicitation of competing acquisition proposals and the conduct of Aptorum’s      
 business between the date of signing the Merger Agreement and the closing of the Merger. As a result, significant business decisions        
 and transactions before the closing of the Merger require the consent of DiamiR. Accordingly, Aptorum may be unable to pursue business      
 opportunities that would otherwise be in its best interest as a standalone company. Aptorum has invested significant time and resources     
 in the transaction process and if the Merger Agreement is terminated Aptorum will have a limited ability to continue its current operations 
 without obtaining additional financing.                                                                                                     |

| ● | Aptorum’s                                                                                                                                    
 collaborators and other business partners and investors in general may view the failure to consummate the DiamiR Merger as a poor reflection 
 on its business or prospects.                                                                                                                |

| ● | Some                                                                                                                                
 of Aptorum’s collaborators and other business partners may seek to change or terminate their