On October 2, 2020 Aptorum Group Limited (Nasdaq:APM, Euronext Paris:APM) ("Aptorum Group" or "Aptorum"), a biopharmaceutical company focused on novel technologies including the targeting of infectious diseases, reported the closing of a public offering of 2,769,231 Aptorum’s Class A ordinary shares (or ordinary share equivalents) and warrants to purchase up to 2,769,231 Class A Ordinary Shares, at a combined public offering price of $3.25 per share and related warrant (Press release, Aptorum, OCT 2, 2020, View Source [SID1234567984]). The warrants have an exercise price of $3.25 per share, are exercisable immediately upon issuance and expire on the five year anniversary of the date of issuance.

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H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds to Aptorum Group from the offering are approximately $9.0 million, before deducting the placement agents’ fees and other estimated offering expenses. Aptorum Group intends to use the net proceeds from the offering primarily to conduct further analyses of SACT-1 (a repurposed drug for neuroblastoma & other solid Tumors) and ALS-4 (a small drug molecule candidate for Staphylococcus aureus including MRSA), which are currently on track for IND submission to commence Phase 1b/2a human clinical trials and undergoing final stages of IND enabling studies to initiate Phase 1 human clinical trials respectively, and to accelerate the developments of our pipeline into their respective clinical phases, as well as for expanding businesses, working capital and general corporate purposes.

A registration statement on Form F-1 relating to this offering (file number 333-248743) was declared effective by the Securities and Exchange Commission ("SEC") on September 29, 2020 and an additional registration statement on Form F-1MEF (file number 333-249140) filed pursuant to Rule 462(b) became effective upon filing on that same date. The offering of the Company’s securities was made by means of a prospectus forming a part of the registration statement. The registration statements on Form F-1 and Form F-1MEF and the final prospectus relating to the Offering are available on the SEC’s website at www.sec.gov. Copies of the final prospectus relating to the offering may be obtained by contacting H.C. Wainwright & Co. at 430 Park Avenue, New York, New York 10022, by telephone: (212) 356-0500, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.