Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1610

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1610
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 the initial public offering of 6,000,000 Units, including 900,000 Units that were issued pursuant
to the underwriters’ exercise of their over-allotment option in full on January 9, 2023, at $10.00 per Unit, generating gross proceeds
of $73,092,000.

Simultaneously
with the closing of the initial public offering, we consummated the sale of 370,500 Private Placement Units at a price of $10.00 per
warrant, generating gross proceeds of $3,705,000. On January 9, 2023, simultaneously with the sale of the over-allotment Units, the Company
consummated the private sale of an additional 38,700 Private Placement Units, generating additional gross proceeds of $387,000.

70

The
underwriter was paid a cash underwriting discount of $0.20 per Unit, or $1,725,000 in the aggregate upon the closing of the Initial Public
Offering.

On
September 30, 2021, we issued an unsecured promissory note to our Sponsor (the “Promissory Note”), pursuant to which we received
proceeds of $300,000 to cover expenses related to the initial public offering.

After
deducting the underwriting discounts and commissions and offering expenses, the total net proceeds from the IPO and the sale of the Private
Placement Units $70,242,000 (or $10.18 per share sold in the IPO) was placed in the Trust Account.

Redemptions

On
December 28, 2023, a special meeting of the shareholders was held to extend the date by which the Company must consummate a Business Combination. In connection with this meeting, the shareholders of record were provided the opportunity to exercise their redemption rights.
Holders of 2,160,774 Ordinary Shares of the Company exercised their right to redeem such shares at a per share redemption price of approximately
$10.78 per share, for a total of approximately $23,302,146. Following the redemptions, the Company has 6,873,426 Ordinary Shares outstanding

On
December 20, 2024, a special meeting of the shareholders was held to extend the date by which the Company must consummate a Business Combination. In connection with this meeting, the shareholders of record were provided the opportunity to exercise their redemption rights.
Holders of 3,403,976 Ordinary Shares