Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 42

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 42
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 to cover over-allotments, if
any, at the IPO price less the underwriting discounts and commissions. The underwriters exercised the over-allotment option in full effective
January 9, 2023. Simultaneously, on January 4, 2023, an amount of $352,350 due to related party was converted into over-allotment of
Private Placement, and the underwriter deposited additional $34,650 on behalf of Sponsor for 17,325 Founder Shares for $2.00 per share
which was sold by the Sponsor to underwriters. The Company paid a cash underwriting commission of $0.125 per Unit for 900,000 additional
Units and the underwriters will be entitled to a deferred commission of $0.35 per Unit, an aggregate of $2,415,000, which will be paid
from the funds held in the Trust Account upon completion of the initial business combination.

Concurrent
with the closing of the IPO, our Sponsor, at the option of the Company, sold to the underwriter or its designees 115,500 Founder Shares
for a purchase price of $2.00 per share and an aggregate purchase price of $231,000.

We
have agreed to sell to the underwriters, for $100.00, an option to purchase up to a total of 58,000 Units exercisable, in whole or in
part, at $11.50 per unit (or 115% of the Market Value), commencing on the consummation of our initial business combination, and expires
five years from the effective date of the IPO. The option and the 58,000 Units, as well as the 58,000 ordinary shares, the warrants to
purchase 58,000 ordinary shares that may be issued upon exercise of the option and the rights to purchase 5,800 ordinary shares upon
the completion of an initial business combination, have been deemed compensation by FINRA and are therefore subject to a lock-up for
a period of 180 days immediately following the effective date of the registration statement or the commencement of sales in the IPO pursuant
to Rule 5110(e)(1) of FINRA’s Rules, during which time the option may not be sold, transferred, assigned, pledged or hypothecated,
or be subject of any hedging, short sale, derivative or put or call transaction that would result in the economic disposition of the
securities, except as permitted under FINRA Rule