Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 46

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 46
---
 Market under the symbol APM. |

<div align='center'>22

RISK FACTORS</div>

Investing in the Company’s securities involves a high degree of risk. You should carefully consider the following risks and all other information contained in this prospectus, including the Company’s financial statements, consolidated financial statements and the related notes, before making an investment decision regarding the Company’s securities. The risks and uncertainties described below are those significant risk factors, currently known and specific to the Company that it believes are relevant to an investment in its securities. If any of these risks materialize, the Company’s business, financial condition or results of operations could suffer, the price of our Class A Ordinary Shares 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. As of June 30, 2025, Aptorum has approximately $2.8 million in cash and a current assets
of approximately $3.0 million. We intend to address any shortfall through the execution of a public or private financing. 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