UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE
ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For the month of July
2025
Commission File Number: 001-38764
Aptorum Group Limited
17 Hanover Square
London W1S 1BN, United Kingdom
(Address of principal executive office)
Indicate by check mark
whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Merger with DiamiR Biosciences Corp.
Aptorum Group Limited, a Cayman Islands exempted company with
limited liability (“Aptorum”, “APM,” “Aptorum Group” or the “Company”) and DiamiR Biosciences
Corp., a Delaware corporation (“DiamiR”), entered into an Agreement and Plan of Merger on July 14, 2025, (the “Merger
Agreement”), pursuant to which, among other matters, Aptorum will form a direct, wholly owned subsidiary in the state of Delaware
(“Merger Sub”), which will merge with and into DiamR, with DiamiR surviving as a wholly owned subsidiary of Aptorum , and
the surviving corporation of the merger with the Merger Sub (the “Merger”). Aptorum following the Merger is referred to herein
as the “Combined Company.”
Concurrently with the execution
of the Merger Agreement, DiamiR and Aptorum Therapeutics Limited, a wholly owned subsidiary of the Company (“Aptorum Therapeutics”),
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 DiamiR providing services to Aptorum Therapeutics to develop a diagnostic test
for early detection and monitoring of progression of glioblastoma until the earlier of the closing of the Merger or December 31, 2025.
In addition, concurrently with the execution of the Merger Agreement, DiamiR, DiamiR LLC, a wholly owned subsidiary of DiamiR, the Company
and Aptorum Therapeutics entered into an intellectual property license agreement (“Licensing Agreement”), pursuant to which
DiamiR and DiamiR LLC shall license on a non-exclusive basis their respective intellectual properties to Aptorum Therapeutics in exchange
for upfront and periodic payments and royalties until the earlier of the closing of the Merger or December 31, 2025.
Immediately prior to the closing of the Merger, Aptorum will transfer
by way of continuation to and domesticate as a Delaware corporation (the “Domestication”; the Company immediately following
the Domestication and prior to the closing of Merger, “Aptorum Delaware”). In connection with the Domestication, each then
issued and outstanding Class A ordinary share of Aptorum will convert automatically, on a one-for-one basis, into a share of common
stock of Aptorum Delaware, and each then issued and outstanding Class B ordinary share of Aptorum will convert automatically into
a share of common stock of Aptorum Delaware and a share of non-voting and non-convertible Series A preferred stock of Aptorum Delaware.
At the effective time of the
Merger (the “Effective Time”), each then-outstanding share of DiamiR’s common stock, other than dissenting shares, will
be converted into a number of shares of Aptorum Delaware common stock equal to the Conversion Ratio described in more detail in the section
titled “The Merger Agreement-Conversion Ratio” (the “Conversion Ratio”). Immediately following the closing of
the Merger, stockholders of DiamiR and existing Aptorum shareholders will own approximately 70% and 30%, respectively, of the outstanding
shares of the Combined Company.
About DiamiR
DiamiR was incorporated in Delaware on June 16, 2014, and primarily
operates through its wholly owned subsidiary, DiamiR, LLC, which was incorporated as a limited liability company in Delaware on September 17,
2009. DiamiR is a molecular diagnostics company focused on developing and commercializing minimally invasive tests for early detection
and monitoring of neurodegenerative diseases, such as mild cognitive impairment and Alzheimer’s disease, rare neurodevelopmental
diseases, such as Rett syndrome, other brain health disorders, and cancer. The proprietary platform technology developed at DiamiR and
protected by over 50 issued patents is based on quantitative analysis of organ-enriched microRNAs detectable in blood plasma. In addition
to blood-based microRNA panels, as part of its biopharma services DiamiR‘s CLIA/CAP-certified
laboratory offers protein and genetic biomarker analyses for screening, patient stratification, disease and treatment monitoring.
Merger Consideration
At the Effective Time, each
then-outstanding share of DiamiR’s common stock, other than dissenting shares, will be converted into a number of shares of Aptorum
Delaware common stock, to the extent that, immediately following the closing of the Merger, stockholders of DiamiR and existing Aptorum’s
shareholders will own approximately 70% and 30%, respectively, of the outstanding shares of the Combined Company.
Representations and Warranties in the Merger
Agreement
The Merger Agreement contains customary representations and warranties
of the parties thereto with respect to, among other things, the following as applicable to each party: (i) due authorization; (ii) no
conflicts; (iii) governmental authorities and consents; (iv) capitalization; (v) financial statements and absence of changes; (vi) undisclosed
liabilities; (vii) litigation and proceedings; (viii) compliance with laws; (ix) contracts and no defaults; (x) labor matters; (xi) tax
matters; (xii) real property; (xiii) intellectual property, privacy and data security; (xiv) brokers’ fees; (xv) related party transactions;
(xvi) information supplied; (xvii) insurance; (xviii) U.S. business; and (xix) absence of a material adverse effect.
Covenants in the Merger Agreement
Each of Aptorum and DiamiR
has agreed to certain covenants in the Merger Agreement governing the conduct of its respective business between the date of the Merger
Agreement and the Closing or the earlier termination of the Merger Agreement. In general, from the date of the Merger Agreement until
the earlier of the Closing and the termination of the Merger Agreement, except as required by applicable law, as set forth in the Merger
Agreement or other transaction documents, each party must and must cause each of its subsidiaries to conduct its business in the ordinary
course of business in all material respects.
In addition, except as otherwise
specifically contemplated by the Merger Agreement, disclosure schedules, or other transaction documents, as may be required by law, or
unless the otherwise consented by Aptorum in writing, DiamiR must not and must cause each of its subsidiaries not to:
| ● | amend its Certificate of Incorporation or other organizational documents,
except in the case of any of DiamiR‘s subsidiaries only (excluding DiamiR itself), any such amendment which is not material to the
business of DiamiR and its subsidiaries, taken as a whole; |
| ● | liquidate, dissolve, reorganize or otherwise wind-up its
business and operations, or propose or adopt a plan of complete or partial liquidation or dissolution, restructuring, recapitalization,
reclassification or similar change in capitalization or other reorganization; |
| ● | issue or grant any options, warrants or other rights to purchase
or obtain any equity securities of DiamiR or any of its subsidiaries; |
| ● | sell, assign, transfer, convey, lease, license, grant other rights
under, abandon, allow to lapse or expire, fail to maintain, subject to or grant any Lien (other than Permitted Liens (as defined in the
Merger Agreement included hereto as Exhibit 2.1)) on, or otherwise dispose of, any material assets, rights or properties (including material
intellectual property), in each case in an amount exceeding US$3,000,000 and other than (i) the sale or license of goods and services
to customers in the ordinary course of business, (ii) the sale or other disposition of inventory, tangible assets or equipment deemed
by DiamiR in its reasonable business judgment to be obsolete or otherwise warranted in the ordinary course of business, (iii) grants
of licenses of intellectual property in the ordinary course of business, (iv) as already contracted by DiamiR or any of its subsidiaries,
(v) disclosure of any confidential information of DiamiR and its subsidiaries to any person pursuant to valid and enforceable agreements
to protect confidentiality, or (vi) transactions among DiamiR and its subsidiaries or among its subsidiaries; |
| ● | except for entries, modifications, amendments, waivers, or terminations
in the ordinary course of business, enter into, materially modify, materially amend, waive any material right under or terminate, any
Specified Contract (as defined in the Merger Agreement included hereto as Exhibit 2.1); |
| ● | directly or indirectly, acquire by merging or consolidating with, or
by purchasing a substantial portion of the assets of, or by purchasing all of or a substantial equity interest in, or by any other manner,
any business or any corporation, partnership, limited liability company, joint venture, association or other entity or person or division
thereof, in each case in an amount exceeding US$3,000,000; |
| ● | settle any action if such settlement would require payment by DiamiR
in an amount greater than US$5,000,000; |
| ● | other than in the ordinary course of business, (i) incur, create
or assume any Indebtedness (as defined in the Merger Agreement included hereto as Exhibit 2.1) in an amount exceeding US$3,000,000, other
than (x) ordinary course trade payables, (y) between DiamiR and any of its wholly owned subsidiaries or between any of such
wholly owned subsidiaries or (z) in connection with borrowings, extensions of credit and other financial accommodations under DiamiR’s
and its subsidiaries’ existing credit facilities, notes and other existing Indebtedness as of the date of this Agreement and, in
each case, any refinancings thereof, (ii) modify, in any material respect, the terms of any Indebtedness in an amount exceeding US$3,000,000,
or (iii) guarantee the obligations of any person for indebtedness for borrowed money in an amount exceeding US$3,000,000; |
| ● | make any loans or advance any money to any person in an amount exceeding
US$3,000,000, except for (i) advances in the ordinary course of business to employees, officers or directors of DiamiR or any of
its subsidiaries for expenses, (ii) prepayments and deposits paid to suppliers, consultants and contractors of DiamiR or any of its
subsidiaries in the ordinary course of business, (iii) trade credit extended to customers of DiamiR or any of its subsidiaries in
the ordinary course of business and (iv) advances or other payments among DiamiR and its subsidiaries; |
| ● | make any capital expenditures that in the aggregate exceed
US$3,000,000, other than any capital expenditure (or series of related capital expenditures) in the ordinary course of business; |
| ● | make any material change in accounting principles or methods of financial
accounting materially affecting the reported consolidated assets, liabilities, or results of operations of DiamiR and its subsidiaries,
other than as may be required by applicable accounting standards or applicable Law; |
| ● | make, change or revoke any material Tax election in a manner inconsistent
with past practice; change or revoke any material accounting method with respect to Taxes resulting in a material amount of additional
Tax or filing of any amended Tax Return which will result in a material amount of additional Tax; file any material Tax Return in a manner
inconsistent with past practice which will result in a material amount of additional Tax; settle or compromise any material Tax claim
or Tax liability; enter into any material closing agreement with respect to any Tax; or surrender any right to claim a material refund
of Taxes; or knowingly take any action or knowingly fail to take any action, which action or failure to act would reasonably be expected
to prevent, impair, or impede the Merger from qualifying for the Intended Tax Treatment (as defined in the Merger Agreement included hereto
as Exhibit 2.1), in each case except in the ordinary course of business consistent with its past practice; or |
| ● | enter into any contract that would conflict with the requirement to
continue to operate its business in the ordinary course. |
In addition, except as otherwise
specifically contemplated by the Merger Agreement, disclosure schedules, or other transaction documents, as may be required by law, or
unless the otherwise consented by DiamiR in writing, Aptorum must not and must cause each of its subsidiaries not to:
| ● | change or amend its organizational documents except as expressly contemplated
by the Transaction Agreements (as defined in the Merger Agreement included hereto as Exhibit 2.1); |
| ● | (A) declare, set aside, establish a record date for,
make or pay any dividend or other distribution, payable in cash, shares, property or otherwise in respect of any outstanding equity securities;
(B) except for (i) the conversion of Aptorum Class B Ordinary Shares into Aptorum Class A ordinary Shares that is
initiated by shareholder(s) of Aptorum, issue, sell, grant, or offer to issue, sell, grant any equity securities and (ii) the
issuance of shares of Aptorum Common Stock following the Domestication issue, sell, grant, or offer to issue, sell, grant any equity
securities, provided, however, each of Aptorum and the DiamiR agree to cooperate to raise additional capital of Aptorum through the sale
and issuance of equity securities of Aptorum, provided, further however, the parties agree that any such sale of equity securities of
Aptorum following the date of the merger agreement shall dilute each of Aptorum and the DiamiR by 30% and 70%, respectively, so that
the Conversion Ratio shall be adjusted to reflect such issuances and dilutions as set forth in this provision. Additionally, any issuances
of equity securities under this provision requires the affirmative approval in writing be each of DiamiR and Aptorum; (C) split,
subdivide, combine, or reclassify any equity securities, or amend any terms of any equity securities; or (D) repurchase, redeem or
otherwise acquire, or offer to repurchase, redeem or otherwise acquire, any equity securities; |
| ● | (A) other than the Domestication, fail to maintain its existence
or merge, consolidate, combine or amalgamate with any person, (B) purchase or otherwise acquire (whether by merging or consolidating
with, purchasing any equity security in or a substantial portion of the assets of, or by any other manner) any business or any corporation,
partnership, limited liability company, joint venture, association or other entity or person or division thereof or (C) effect or
commence any liquidation, dissolution, scheme of arrangement, merger, consolidation, amalgamation, restructuring, recapitalization, reorganization,
public offering or similar transaction (other than the Transactions (as defined in the Merger Agreement included hereto as Exhibit 2.1)); |
| ● | other than the sale or dissolution of subsidiaries of Aptorum, as requested
by DiamiR in writing, sell, assign, transfer, convey, lease, license, grant other rights under, abandon, allow to lapse or expire, fail
to maintain, subject to or grant any Lien (other than Permitted Liens) on, or otherwise dispose of, any material assets, rights or properties
(including material intellectual property), and other than (i) the sale or license of goods and services to customers in the ordinary
course of business, (ii) the sale or other disposition of inventory, tangible assets or equipment deemed by the Aptorum in its reasonable
business judgment to be obsolete or otherwise warranted in the ordinary course of business, (iii) grants of licenses of intellectual
property in the ordinary course of business, (iv) as already contracted by any Aptorum “Group Company” (as defined in
the Merger Agreement included hereto as Exhibit 2.1), (v) disclosure of any confidential information of any Aptorum Group Company
(as defined in the Merger Agreement included hereto as Exhibit 2.1) to any person pursuant to valid and enforceable agreements to protect
confidentiality, or (vi) transactions within Aptorum Group Companies; |
| ● | authorize, make, or make any commitment with respect to, any
capital expenditure, other than any capital expenditure (or series of related capital expenditures) in the ordinary course of business; |
| ● | make any loans, advances in, any other person (including to any of
its officers, directors, agents, or consultants), make any change in its existing borrowing or lending arrangements for or on behalf of
such persons, or enter into any “keep well” or similar agreement to maintain the financial condition of any other person; |
| ● | make, change, or revoke any material Tax election; change or revoke
any material accounting method with respect to Taxes resulting in a material amount of additional Tax or filing of any amended Tax Return;
settle or compromise any material Tax claim or Tax liability; file any Tax Return in a manner materially inconsistent with past practice;
or surrender any right to claim a material refund of Taxes; or knowingly take any action or knowingly fail to take any action, which action
or failure to act would reasonably be expected to prevent, impair, or impede the Merger from qualifying for the Intended Tax Treatment,
in each case except in the ordinary course of business consistent with its past practice; |
| ● | enter into, renew or amend, in any material aspect, the terms of any
transaction or contract with a related party of Aptorum without the Company’s prior written consent; |
| ● | settle any pending or threatened Action; |
| ● | incur, assume, guarantee or otherwise become liable for (whether directly,
contingently or otherwise) or modify the terms of any Indebtedness, other than (x) ordinary course trade payables, (y) between
Aptorum and any of its wholly owned subsidiaries or between any of such wholly owned subsidiaries or (z) in connection with borrowings,
extensions of credit and other financial accommodations under the Aptorum’s and its subsidiaries’ existing credit facilities,
notes and other existing Indebtedness as of the date of this Agreement and, in each case, any refinancings thereof; |
| ● | issue, offer, deliver, grant, sell, transfer, pledge or dispose
of, or place any Lien on, or authorize or propose to issue, offer, deliver, grant, sell, transfer, pledge or dispose of, or place any
Lien on, any equity securities or any options, warrants or other rights to purchase or obtain any equity securities, in each case other
than the creation of any Lien on the Aptorum’s equity securities by any third party that is not a Aptorum Group Company; |
| ● | engage in any transaction, activities or business, or enter into any
contract or arrangement, other than transactions, activities, business, contracts or arrangements (A) in connection with or incident
or related to its continuing corporate existence, (B) contemplated by, or incident or related to, the merger agreement, any other
transaction agreement, the performance of covenants or agreements hereunder or thereunder or the consummation of the Transactions or (C) those
that are administrative or ministerial, in each case, which are immaterial in nature; |
| ● | change any accounting principles, policies, procedures, or methods
(including changes affecting the reported consolidated assets, liabilities, or results of operations) other than as required by applicable
accounting standards or applicable Law; |
| ● | other than in the ordinary course of business consistent with past
practice, amend, modify, consent to the termination of, or waive any material rights under, any material Aptorum Contract (as defined
in the Merger Agreement included hereto as Exhibit 2.1); |
| ● | fail to make in a timely manner any filings or registrations
with the SEC required under the Securities Act or the Exchange Act or the rules and regulations promulgated thereunder; |
| ● | engage in the conduct of any new line of business; |
| ● | enter into any contract with any broker, finder, investment banker
or other person under which such person is or will be entitled to any brokerage fee, finders’ fee or other commission in connection
with the Transactions; or |
| ● | enter into any contract that would conflict with the requirement to
continue to operate its business in the ordinary course. |
Conditions to Closing of the Merger
The obligations of the parties
to consummate the Merger are subject to the satisfaction or (to the extent permitted by applicable law) waiver by each of the parties
to the Merger Agreement of the following conditions at or prior to the Closing:
| ● | the approval of the Domestication Proposal and the completion
of the Domestication; |
| ● | the approval of the Nasdaq Stock Issuance Proposal; |
| ● | the conversion of all outstanding convertible debt of Aptorum
and of DiamiR; |
| ● | the completion of review by Nasdaq of Aptorum’s listing
of additional securities application for the shares to be issued in connection with the Merger, and the continuous listing of Aptorum’s
shares on Nasdaq; |
| ● | the declaration by the SEC of the effectiveness of a registration
statement on Form S-4 registering the shares of Aptorum Delaware common stock issuable pursuant to the Merger Agreement; |
| ● | the composition of the board of directors of the Combined
Company is as agreed between DiamiR and Aptorum and the post-merger officers and directors shall have entered into employment agreements
with Aptorum; |
| ● | Aptorum maintaining a certain amount of cash balance and
working capital as required at closing; the execution and
delivery by each counterparty to the Stockholders Agreement; and |
| ● | the lack of any order issued by any governmental authority
of competent jurisdiction preventing the consummation of the Merger being in effect, and no applicable law having been enacted, entered,
promulgated or enforced by any governmental authority or otherwise being in effect that prohibits or makes illegal the consummation of
the Merger. |
In addition, Aptorum’s
obligation to complete the Merger is subject to the satisfaction or (to the extent permitted by applicable law) waiver by Aptorum at or
prior to the closing of the following conditions:
| ● | the truth and accuracy of certain representations and warranties
of DiamiR set forth in the Merger Agreement as of the date of the Merger Agreement and as of the closing (unless any such representation
or warranty is made only as of a specific date, in which event such representation or warranty will be true, complete and correct as
of such specific date), in each case, subject to certain specified materiality standards; |
| ● | the performance in all material respects of all obligations
required to be performed by DiamiR, and the compliance in all material respects of all agreements and covenants required to be complied
with by DiamiR, in each case, under the Merger Agreement at or prior to the closing; |
| ● | the receipt by Aptorum of a certificate signed on behalf
of DiamiR by an executive officer of DiamiR to the effect that the conditions set forth in the two immediately preceding items have been
satisfied; and |
| ● | the absence of any event, circumstance, development, occurrence,
change or effect since the date of the Merger Agreement that has had, or would, individually or in the aggregate, reasonably be expected
to have, a material adverse effect on DiamiR. |
In addition, DiamiR’s
obligation to complete the Merger is subject to the satisfaction or (to the extent permitted by applicable law) waiver by DiamiR at or
prior to the closing of the following conditions:
| ● | the truth and accuracy of certain representations and warranties
of Aptorum set forth in the Merger Agreement as of the date of the Merger Agreement and as of the closing (unless any such representation
or warranty is made only as of a specific date, in which event such representation or warranty will be true, complete and correct as
of such specific date), in each case, subject to certain specified materiality standards; |
| ● | the performance in all material respects of all obligations
required to be performed by Aptorum, and the compliance in all material respects of all agreements and covenants required to be complied
with by Aptorum under the Merger Agreement at or prior to the closing; |
| ● | the receipt by DiamiR of a certificate signed on behalf of
Aptorum by an executive officer of Aptorum to the effect that the conditions set forth in the two immediately preceding items have been
satisfied; and |
| ● | the absence of any event, circumstance, development, occurrence,
change or effect since the date of the Merger Agreement that has had, or would, individually or in the aggregate, reasonably be expected
to have, a material adverse effect on Aptorum. |
Termination of the Merger Agreement
The Merger Agreement may be
terminated at any time prior to the closing, whether before or after receipt of the requisite shareholder approvals, under the following
circumstances:
| ● | by mutual written agreement of Aptorum and DiamiR; |
| ● | by written notice from DiamiR or Aptorum to the other, if
there shall be in effect any (i) applicable laws or (ii) governmental order (other than, for the avoidance of doubt, a temporary
restraining order), that (x) in the case of each of clauses (i) and (ii), permanently restrains, enjoins, makes illegal or
otherwise prohibits the consummation of the Merger, and (y) in the case of clause (ii) such governmental order shall have become
final and non-appealable; |
| ● | by written notice from Aptorum to DiamiR, if DiamiR has breached
or failed to perform any of its representations, warranties, or covenants or other agreements, which breach or failure to perform (i) would
result in the failure of any of the closing conditions to be satisfied and (ii) is not capable of being cured by the Termination
Date or, if capable of being cured by the Termination Date, is not cured by DiamiR before the 30th day following receipt
of written notice from Aptorum of such breach or failure to perform, provided that Aptorum shall not have the right to terminate if it
is then in material breach of any of its representations, warranties, covenants or other agreements; |
| ● | by written notice from DiamiR, if Aptorum or Merger Sub has
breached or failed to perform any of its representations, warranties, covenants or other agreements, which breach or failure to perform
(i) would result in the failure of any closing conditions to be satisfied and (ii) is not capable of being cured by the Termination
Date or, if capable of being cured by the Termination Date, is not cured by Aptorum or Merger Sub before the 30th day
following receipt of written notice from DiamiR of such breach or failure to perform; provided that DiamiR shall not have the right to
terminate if it is then in material breach of any of its representations, warranties, covenants or other agreements; |
| ● | by written notice from Aptorum to DiamiR, if DiamiR fails
to obtain its stockholders approval; |
| ● | by written notice from DiamiR to Aptorum, if Aptorum fails to obtain
its shareholders approval upon vote taken thereon at a duly convened Special Meeting (or at a meeting of its shareholders following any
adjournment or postponement thereof); |
| ● | by written notice from Aptorum or DiamiR to the other, if
the closing shall not have been consummated on or prior to the Termination Date; |
For purposes of the Merger
Agreement, “Termination Date” means December 31, 2025; provided that the Termination Date may be extended if expressly
so agreed in writing by Aptorum and DiamiR.
In the event that, the Merger Agreement is terminated for reasons other
than DiamiR’s breach or failure to perform, and that Aptorum has raised capital by issuance of its equity securities during the
Interim Period (as defined in the Merger Agreement included hereto as Exhibit 2.1), Aptorum agrees to pay in cash to DiamiR, a fee in
the amount equal to the higher of (i) 70% of cash that Aptorum has as of the date of Termination, and (ii) $2,000,000 (the “Termination
Fee”). In the event that the Merger Agreement is terminated and that Aptorum has not raised capital by issuance of its equity securities
during the Interim Period, each party agrees to bear its own expenses incurred with the Merger and the related transactions.
Management Services Agreement
At the time of the execution
of the Merger Agreement, 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 DiamiR providing services
to Aptorum Therapeutics to develop a diagnostic test for early detection and monitoring of progression of glioblastoma until the earlier
of the closing of the Merger or December 31, 2025 in the following positions, subject to change as set forth in the agreement: Alidad
Mireskandari, President or CEO; Gary Anthony, Comptroller or CFO; Gyanendra Kumar, V.P. of Assay Development; Kenny Ablordeppey,
Director of Assay Development; Jacob Goldman, Data Scientist; and Sydney Finkelstein, Medical Director.
Intellectual Property License Agreement
At the time of the execution of
the Merger Agreement, DiamiR, DiamiR LLC, the Company and Aptorum Therapeutics entered into the Licensing Agreement, pursuant to which
DiamiR and DiamiR LLC shall license on a non-exclusive basis their respective intellectual properties to Aptorum Therapeutics in exchange
for upfront and periodic payments and royalties until the earlier of the closing of the Merger or December 31, 2025.
Voting and Support Agreement
Ian
Huen, our Chairman and CEO, who beneficially owns 87.17% of the Company’s total voting power as of the date of the Merger Agreement,
signed a voting and support agreement simultaneously with the execution of the Merger Agreement, pursuant to which he agreed to vote in
favor of the transactions contemplated in the Merger Agreement.
Stockholders Agreement
Upon closing of the DiamiR Merger, Aptorum and certain stockholders
of DiamiR, who collectively own 84.9% of DiamiR’s outstanding shares, will sign a stockholders agreement (“Stockholders Agreement”),
which will be effective so long as the stockholders of DiamiR beneficially own, in the aggregate, a number of shares of common stock of
the Combined Company equal to at least 25% of the then outstanding shares of the Combined Company (such beneficial ownership, the “DiamiR
Stockholders Beneficial Ownership”; such period, the “Appointment Period”). The parties agree that, during the Appointment
Period, they will take all necessary actions to cause the number of directors at the Board of the Combined Company to be fixed at five
(5). In addition, Kira S. Sheinerman, the co-founder and a stockholder of DiamiR, and her affiliates (“DiamiR Primary Stockholder
Parties”) will have the right to appoint two (2) designees (each designee, the “Primary Stockholder Designee”,
collectively, the “Primary Stockholder Designees”) for nomination and election to the Board of Combined Company, and at least
one (1) designee shall satisfy the independence requirements of Rule 5605(c)(2)(A) of the Nasdaq listing rules, provided
that the DiamiR Stockholders Beneficial Ownership is not less than 36%, and the DiamiR Primary Stockholder Parties will have the right
to appoint one (1) director nominee to the Board of Combined Company, provided that the DiamiR Stockholders Beneficial Ownership
is no less than 25%.
For the election of directors
of the Combined Company: (1) each stockholder of DiamiR, who is a party to the Stockholders Agreement, will agree to vote all of
its shares of the Combined Company in favor of each Primary Stockholder Designee; (2) with respect to the election of nominees who
are not Primary Stockholder Designees, (a) until Aptorum’s 2027 annual stockholders meeting (the “2027 Meeting”),
each stockholder of DiamiR will agree to vote all of its shares of the Combined Company in accordance with the recommendations of the
nominating and governance committee of the Board of the Combined Company; and (b) beginning at the 2027 Meeting and at each annual
meeting thereafter: (i) each stockholder of DiamiR, who is a party to the Stockholders Agreement, may vote, in its sole discretion, all
of its shares of the Combined Company in favor of one additional nominee who is not an Primary Stockholder Designee; provided that if
the number of directors constituting the Board of the Combined Company is increased above five (5), then the number of additional nominees
(i) shall automatically increase by such number of additional directors (each such additional nominee or nominees, as applicable,
an “Primary Stockholder Nominee”); and (ii) with respect to any uncontested election of a nominee who is not a Primary
Stockholder Designee or a Primary Stockholder Nominee, each Stockholder shall vote its shares of the Combined Company in the same manner
as, and in the same proportion to, all shares voted by stockholders of the Combined Company, excluding the votes or actions of the stockholders
of DiamiR with respect to its shares of the Combined Company. For all other proposals or resolutions to be voted on by the stockholders
of the Combined Company, each stockholder of DiamiR, who is a party to the Stockholders Agreement, may vote all of its shares of the Combined
Company in its sole discretion.
In addition, DiamiR will appoint
Alidad Mireskandari as a non-voting observer (the “Observer”) to the Board of Combined Company upon closing of the DiamiR
Merger until the earliest of (i) two (2) years from the date thereof, (ii) the Observer’s death, disability, retirement
or resignation or (iii) such time as may be determined by a majority of the directors of Combined Company who are Primary Stockholder
Designees.
Furthermore, so long as the
DiamiR Stockholder Beneficial Ownership is no less than 25%, the Combined Company should obtain prior written approval from the DiamiR
Primary Stockholder Parties for certain significant corporate actions, including but not limited to (i) voluntary dissolution, winding
up or bankruptcy of the Combined Company or any significant subsidiary of it; (ii) issuance of common stock or securities convertible
into the shares of common stock representing more than 10% of the outstanding shares of the Combined Company in a six-month period; (iii) any
amendment to the governing documents of the Combined Company that will adversely affect the Primary Stockholder Designee, or the Combined
Company’s ability to fulfill its obligations under the Stockholders Agreement; (iv) any acquisition, sale of assets, merger,
amalgamation nor consolidation transactions; and (v) replacement of the CEO or CFO of the Combined Company.
If, at any time that the DiamiR
Stockholder Beneficial Ownership is less than 25%, the Primary Stockholder Parties shall no longer have any right to designate any nominee
for election to the Board of the Combined Company, or have the right to veto on the significant corporate actions as set forth in the
Stockholders Agreement.
Forward Looking Statements
This report includes “forward-looking statements” within
the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue” and similar expressions
are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties
that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking
statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without
limitation, Aptorum’s and DiamiR’s expectations with respect to future performance of the Combined Company, ability to recognize
the anticipated benefits of the merger; costs related to the Proposed Transactions; the satisfaction of the closing conditions to the
Proposed Transactions; the timing of the completion of the Proposed Transactions; global economic conditions; geopolitical events and
regulatory changes; and other risks and uncertainties indicated from time to time in the Company’s filings with the SEC. The foregoing
list of factors is not exclusive. Additional information concerning these, and other risk factors is contained in Aptorum’s most
recent filings with the SEC and will be contained in the Form S-4 and other filings to be filed as result of the transactions described
above. All subsequent written and oral forward-looking statements concerning Aptorum, Merger Sub or DiamiR or the transactions described
herein or other matters and attributable to Aptorum, Merger Sub or DiamiR, or any person acting on their behalf are expressly qualified
in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Neither Aptorum, Merger Sub nor DiamiR undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events,
conditions, or circumstances on which any such statement is based.
Non-Solicitation
This
report is not a notice of shareholders meeting or solicitation of a proxy, consent or authorization with respect to any securities or
in respect of the proposed transactions and shall not constitute an offer to sell or a solicitation of an offer to buy the securities
of Aptorum or DiamiR, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation,
or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information about the Transactions
and Where to Find It
In
connection with the Proposed Transactions, Aptorum will file a registration statement on Form S-4 with the SEC and will mail notices
of shareholders meeting and other relevant documents to its shareholders. Investors and security holders of Aptorum are advised to
read, when available, the Form S-4, and amendments thereto, the notice to shareholders, and amendments thereto, in connection with
Aptorum’s solicitation of proxies for its shareholder’ meeting to be held to approve the transactions described herein
because the notice to shareholders will contain important information about the transactions and the parties to the transactions.
The notices to shareholders will be mailed to Aptorum’s shareholders as of a record date to be established for voting on the
proposed transactions. Shareholders will also be able to obtain copies of the notice, without charge, once available, at the
SEC’s website at www.sec.gov or by directing a request to: 17 Hanover Square, London W1S 1BN, United Kingdom, attention: Ian
Huen.
A registration statement relating to these securities will be filed
with the SEC and has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time
the registration statement becomes effective. This Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of Aptorum’s registration
statement on Form S-4, once available, can be viewed on the SEC’s website.
Financial Statements and Exhibits.
Exhibits.
The following exhibits are attached.
| Exhibit |
|
Description |
| 2.1 |
|
Merger
Agreement by and between Aptorum and DiamiR, dated July 14, 2025 |
| 10.1 |
|
Management
Services Agreement by and between Aptorum Therapeutics and DiamiR, dated July 14, 2025 |
| 10.2 |
|
Intellectual Property License Agreement by and between Aptorum Therapeutics, Aptorum, DiamiR LLC, and DiamiR, dated July 14, 2025 |
| 10.3 |
|
Voting and Support Agreement by and between Aptorum and its major shareholder, dated July 14, 2025 |
| 10.4 |
|
Form of Stockholders Agreement |
| 99.1 |
|
Press Release |
| * |
Certain schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule will be furnished to the SEC upon request. |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: July 22, 2025
| |
Aptorum Group Limited |
| |
|
|
| |
By: |
/s/ Ian Huen |
| |
|
Ian Huen |
| |
|
Chief Executive Officer |
