Aptorum nasdaq Apm Stock Incredible 550 Surge Leaves Investors in Awe Here's What Happened

Aptorum (NASDAQ: APM) Stock Incredible 550% Surge Leaves Investors in Awe – Here’s What Happened!

Aptorum Group Limited (NASDAQ: APM) stock saw a meteoric rise of over 550% on Wednesday after the company entered into a merger agreement with YOOV. The company also revealed plans for a spin-off to segregate its legacy business.

Aptorum (APM) and YOOV Group Holding Ltd. have forged ahead into a merger agreement, a significant move in the corporate landscape awaiting a green light from the shareholders of both companies and the fulfillment of various closing conditions.

Once the merger concludes, YOOV shareholders will dominate the combined company, claiming roughly 90% ownership, while Aptorum shareholders will retain the remaining 10%.

This strategic maneuver falls under the classification of a reverse merger, with YOOV shareholders poised to seize the lion’s share. However, the merger’s finalization is contingent upon NASDAQ’s nod of approval for the combined company’s initial listing application.

Moreover, Aptorum and its principal stakeholder, Jurchen Investment Corporation, have reached a split-off arrangement. It entails the transfer of Aptorum’s legacy business assets and liabilities to a wholly-owned subsidiary, Aptorum Therapeutics Limited (ATL). Following the merger’s completion, Jurchen will acquire ATL in exchange for relinquishing certain shares of Aptorum it currently holds.

Aptorum (NASDAQ: APM) Stock Reaction

APM stock skyrocketed 554.44% to close at $9.49 on Wednesday. The traders had exchanged hands with 82,546,771 (82.54 million) shares compared to the average daily trading volume of 6.61K.