Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 108

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 108
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2023, the Company
received an approval letter (the “Nasdaq Approval Letter”) from the Nasdaq Listing Qualifications Department indicating that
the staff has approved the Company’s application to transfer its Class A Ordinary Shares to the Nasdaq Capital Market. The Company’s
securities have been transferred to the Nasdaq Capital Market at the opening of business on August 10, 2023, and the trading activities
of its Class A Ordinary Shares have not been affected. The transfer became effective on August 10, 2023, thereby closing the prior deficiencies
on the Nasdaq Global Market.

On April 15, 2025, the
Company received a notification from the Staff advising the Company that it did not comply with the minimum bid price requirement of
$1 per share, as per Nasdaq Listing Rule 5550(a)(2). The notification does not immediately affect the listing or trading of the
Company’s shares on Nasdaq. The Company has been granted a 180-calendar-day grace period, until October 14, 2025, to regain
compliance with the continued listing requirements. There is no guarantee that the Company will achieve the minimum bid price and
regain compliance with the specified rule.

If the Company fails to regain
compliance with this rule or any other listing rules when required in the future, we could be subject to suspension and delisting proceedings.
If our securities lose their status on the Nasdaq Capital Market, our securities would likely trade in the over-the-counter market. If
our securities were to trade on the over-the-counter market, selling our securities could be more difficult because smaller quantities
of securities would likely be bought and sold, transactions could be delayed, and security analysts’ coverage of us may be reduced.
In addition, in the event our securities are delisted, broker-dealers have certain regulatory burdens imposed upon them, which may discourage
broker-dealers from effecting transactions in our securities, further limiting the liquidity of our securities. These factors could result
in lower prices and larger spreads in the bid and ask prices for our securities. Such delisting from the Nasdaq Capital Market and continued
or further declines in our share price could also greatly impair our ability to raise additional necessary capital through equity or debt
financing, and could significantly increase the ownership dilution to shareholders caused by our issuing equity in financing or other
transactions.

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Class A Ordinary Shares eligible for future sale may adversely affect the market price of our