APM - Aptorum Group Plans of Merge with YOOV Group Holding and a Split-off its Legacy Business

2024-03-06 09:53:06 ET

DENVER, Colo., Mar 06, 2024 ( 247marketnews.com )- Aptorum Group Limited (NASDAQ: APM ) announced, jointly with privately-held YOOV Group Holding Ltd., this morning, that the two companies entered into an Agreement and Plan of Merger, which still needs shareholder approval.

APM is trading at $$2.7399, up $1.0699 (+64.07%), on 5,809,021 shares.

Its 52-week range is $1.35 to $9.00 and it traded as high as $6.29 in this morning’s premarket trading.

Upon merger completion, Aptorum shareholders and YOOV shareholders are expected to own approximately 10% and 90%, respectively, of the outstanding shares of the combined company.

“This transaction marks a significant milestone for YOOV Group Holding , and we are thrilled about the immense opportunities it brings. Listing on Nasdaq is a testament to our growth trajectory and we believe this will propel our company’s development and expansion,” said Phil Wong, Co-Founder and Chief Executive Officer of YOOV Group Holding Limited.

“We are pleased to announce our proposed reverse merger with YOOV Group Holding, which we believe will be in the best interest of our shareholders,” said Ian Huen, Executive Director and Chief Executive Officer of Aptorum Group. Mr. Huen added, “YOOV is a promising AI-enabled software and automation platform. The merger is an exciting and important transaction that will take YOOV to listing on Nasdaq, which I believe will open further opportunities for the company to drive growth towards new heights.”

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