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

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 25
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 to operate Company on a stand-alone                                                                     
 basis, including uncertainty regarding Company’s product development and the need to raise significant additional financing for 
 future clinical and commercial development;                                                                                     |

| ● | the low valuation of the Company on a stand-alone basis currently evidenced 
 by the trading price of Company’s Class A Ordinary Shares;                  |

| ● | the strategic alternatives to the Merger, including the discussions                                                                 
 that Company’s management and advisors previously conducted with other potential partners, and the lack of any viable alternatives; 
 and                                                                                                                                 |

| ● | the view of Company that the consideration is fair, from a                    
 financial point of view, to the holders of Company’s Class A Ordinary Shares. |

The Company’s board of directors believed that, as a result of arm’s length negotiations with DiamiR, Company and its management team negotiated the most favorable implied value and equity split for its stockholders that DiamiR was willing to agree to, and that the terms of the Merger Agreement include the most favorable terms to Company in the aggregate to which DiamiR was willing to agree. Immediately prior to signing the Merger Agreement, Company’s closing stock price was $0.94 per share, as quoted on Nasdaq on July 11, 2025. Company and DiamiR agreed that Company would have a valuation of $[ ], assuming $[ ] of net cash delivered at Merger Closing, and DiamiR would have a valuation of $[ ] in the DiamiR Merger at the time of Merger Closing. The Company board of directors also believed, after a thorough review of strategic alternatives and discussions with Company’s senior management and legal counsel, that the DiamiR Merger is more favorable to its stockholders than the potential value that might have resulted from other strategic options available to Company, which would likely be a delisting of the Company’s Class A Ordinary Shares from Nasdaq if the DiamiR Merger is not consummated]. After giving consideration to these and other factors, the Company board of directors approved the DiamiR Merger, which the Company board of directors believes better positions Company for long-term success. Management Services Agreement At the time of the execution of the Merger Agreement, Aptorum Therapeutics Limited, a wholly owned subsidiary of the Company (“Aptorum Therapeutics”), and DiamiR entered into a management services agreement pursuant to which Aptorum Therapeutics shall pay a monthly service fee and reimburse expenses to DiamiR in exchange for the officers and employees of Diami