Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 70

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 70
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 FD.

In addition, as a foreign private issuer, PubCo is permitted to follow certain corporate governance practices of its home country, the Cayman Islands, in lieu of the corporate governance standards of Nasdaq applicable to U.S. domestic companies. For example, PubCo is not required to have a majority of its board of directors consisting of independent directors nor have a compensation committee or a nominating and corporate governance committee consisting entirely of independent directors. PubCo intends to follow its home country’s corporate governance practices as long as it remains a foreign private issuer. As a result, PubCo’s shareholders may not have the same protections afforded to shareholders of U.S. domestic companies that are subject to Nasdaq corporate governance requirements.

For more details on related risks, see “ Risk Factors-Risks Related to PubCo and Its Securities-PubCo will qualify as a foreign private issuer within the meaning of the rules under the Exchange Act, and as such PubCo will be exempt from certain provisions applicable to United States domestic public companies” and “ As a foreign private issuer, PubCo is permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from Nasdaq’s corporate governance standards applicable to domestic U.S. companies. These practices may afford less protection to shareholders than they would enjoy if PubCo complied fully with Nasdaq’s corporate governance standards ,” and “ PubCo may lose its foreign private issuer status in the future, which could result in significant additional costs and expenses.”

Controlled Company

Under Nasdaq’s listing rules, a listed company of which more than 50% of the voting power is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain Nasdaq corporate governance requirements. Upon the consummation of the Business Combination, Sponsor, the sole member of which is indirectly wholly owned by Mr. Richard Tzar Kai Li (“ Mr. Li”), is expected to hold 30.48% of the equity interest and 78.23% of the voting power in PubCo under the No Redemption Scenario (not taking into account of any PubCo Class A Ordinary Shares underlying the PubCo Sponsor Warrants, which are exercisable 30 days after Closing, or any PubCo Class B Ordinary Shares that may be transferred to Sponsor by Steven Teichman as described elsewhere in this proxy statement/prospectus). In addition, 594,946 PubCo Class B Ordinary Shares to be issued to Mr. Teichman in the Initial Merger in exchange for 594,946