Aptorum Group Limited announced that it has entered into a purchase agreement with 4 investors to issue 7% unsecured convertible notes for the gross proceeds of $3,000,000 on June 28, 2023. The notes bear 7% interest per annum and maturity date that is 12 months from the issuance date, which can be extended upon agreement of the parties. The notes are converted into a conversion price of $3.00 per share.

Post completion of the issuance of notes, the investor converted them into an aggregate of 1,000,000 Ordinary Shares. The Note is being purchased is exempted from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) pursuant to Regulation D promulgated thereunder and will be issued as restricted securities. The Notes are convertible into the company’s Class A Ordinary Shares, par value $0.00001 per share.