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Aptorum Group Limited's $3M Direct Offering Report: Key Highlights & Insights

$APM
Form 6-K
Filed on: 2025-01-07
Source
Aptorum Group Limited's $3M Direct Offering Report: Key Highlights & Insights

Here are the key insights extracted from the financial report (Form 6-K) of Aptorum Group Limited:

  1. Company Overview:
  • Name: Aptorum Group Limited
  • Address: 17 Hanover Square, London W1S 1BN, United Kingdom.
  • Commission File Number: 001-38764.
  1. Registered Direct Offering:
  • Date of Offering: January 2, 2025.
  • Shares Sold: 1,535,000 Class A ordinary shares.
  • Offering Price: $2.00 per share.
  • Gross Proceeds: $3,070,000 from the offering.
  1. Usage of Proceeds:
  • The proceeds from the offering will be utilized for research and development, working capital, and general corporate purposes.
  1. Standstill Agreement:
  • For 30 days following the closing of the offering (Standstill Period), the company is restricted from issuing new shares or securities convertible into shares, except for specified exceptions (e.g., filing a registration statement on Form S-8 for employee benefit plans).
  1. Placement Agent:
  • Agent: Maxim Group LLC.
  • Agent Fee: 7% of gross proceeds.
  • Reimbursement for Expenses: Up to $50,000.
  1. Closing of the Offering:
  • The offering closed on January 3, 2025, upon satisfaction of all closing conditions.
  1. Regulatory Compliance:
  • The offering was conducted under the prospectus included in the registration statement on Form F-3, which was effective as of January 19, 2023.
  • The information contained in this report is not deemed “filed” under the Securities Exchange Act of 1934 and does not incorporate by reference into any filings under the Securities Act of 1933.
  1. Additional Documents:
  • The Securities Purchase Agreement and a related press release issued on January 2, 2025, are attached as exhibits to the report.
  1. Signature:
  • Signed by Ian Huen, CEO of Aptorum Group Limited on January 7, 2025.

This report indicates a strategic move by Aptorum Group Limited to raise capital through a direct offering, which highlights their focus on funding for research and operational needs while adhering to regulatory constraints during the post-offering period.