Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 187

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 187
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ness is at the rate of 10% per annum. As of the date of this annual report, $0.5 million is outstanding from Libra Sciences
Limited. For the year ended December 31, 2023 and December 31, 2024, the Group has assessed that the amounts due from Libra Science
Limited and its subsidiary are potentially unrecoverable, an allowance for credit loss amounting to $0.5 million and $1,184 has been recognized
for the year ended December 31, 2023 and December 31, 2024.

Sales and Purchases of Securities

Private Placement Offering

Sale of Class A Ordinary
Shares

On May 26, 2021, the Company
entered into a private placement shares purchase agreement with Jurchen, issuing 138,793 Class A Ordinary Shares, par value $10 each,
at $28.82 per share, representing a 10% premium to the last closing price of the Company’s Class A Ordinary Shares on the NASDAQ
stock exchange on that date. The Company received aggregate gross proceeds of $4,000,000 from the purchase of these shares.

Sales of convertible notes

On December 9, 2022, the Group
entered into a securities purchase agreement with Aenco Technologies Limited (“ Aenco”). Pursuant to the securities purchase
agreement, Aenco is purchasing a convertible note in the original principal amount of $3,000,000 (the “ Dec 2022 Note”). The
Dec 2022 Note is unsecured, convertible into the Company’s restricted Class A Ordinary Shares at Aencco’s option. The Dec
2022 Notes have a maturity date of 12 months subject to the Aenco’s extension, a bullet interest rate of 7% per annum, and a conversion
price of $12.00 per Class A Ordinary share. The Company shall have an obligation to repay the principal amount and interest of the Dec
2022 Note on the maturity date in cash or in unregistered Class A Ordinary Shares or a combination of such at the Company’s discretion.
In April 2023, Aenco transferred the whole Dec 2022 Note to two external investors, and the two external investors fully converted the
Dec 2022 Note into 250,000 Class A Ordinary Shares.

On June 28, 2023, the Group
entered into a securities purchase agreement with 4 investors. Pursuant to the securities purchase agreement, the investors are purchasing
a