Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 23

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 23
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 and Private Units (and underlying securities) until six months
after the date of the consummation of our initial business combination, or earlier, in either case, if, subsequent to our initial business
combination, we consummate a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of our
shareholders having the right to exchange their shares for cash, securities or other property.

    F-15

Promissory
Notes - Related Party

On
September 27, 2023, the Company notified Equiniti Trust Company, the trustee of the Company’s trust account (the “Trust Account”),
that it was extending the time available to the Company to consummate its initial business combination from October 4, 2023, to January
4, 2024 (the “Extension”). The Extension is the first of up to three (3) three-month extensions permitted under the Company’s
governing documents.

On
September 27, 2023, the Company extended the time to complete its initial business combination from October 4, 2023 to January 4, 2024
by depositing an aggregate of $690,000 into the Trust Account. In connection with this extension, on September 26, 2023, the Company
also entered into a non-interest bearing promissory note with the Sponsor for $690,000, that is payable on the earlier of January 4,
2024 or promptly after the completion of an initial business combination. On April 12, 2024, the Company amended and restated the promissory
note to extend the maturity date to the earlier of January 4, 2025 or promptly after the date of the consummation of the business combination.
On April 14, 2025, the promissory note was further amended and restated to extend the maturity date to promptly after the date the business
combination is consummated. On January 4, 2024, the Company raised $2,500 from the sponsor against a promissory note for working capital
purposes and further raised an additional $20,000 on February 20, 2024, bringing the total drawdown beyond the original principal amount
of $690,000. On January 4, 2024, the Company deposited $165,000 into the Trust Account to extend the deadline to complete the business
combination from January 4, 2024 to April