Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 18

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 18
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 the
Private Units was placed in a Trust Account, which may only be invested in U.S. “government securities”, within the meaning
of Section 2(a)(16) of the Investment Company Act, having a maturity of 180 days or less or in money market funds meeting certain conditions
of Rule 2a-7 promulgated under the Investment Company Act, which invest only in direct U.S. government treasury obligations.

Note 4 - Private Placement

Simultaneously with the closing of the IPO, the Sponsor
purchased an aggregate of 370,500 Private Units at a price of $10.00 per Private Unit, for an aggregate purchase price of $3,705,000,
in a private placement (the “Private Placement”). Each whole Private Placement Unit will consist of one ordinary share (“Private
Share”), one warrant (“Private Warrant”) and one right (“Private Right”) entitling the holder thereof to
receive one-tenth of one Private Share upon the completion of an Initial Business Combination. Each Private Warrant entitles the holder
to purchase one ordinary share at a price of $11.50 per share, subject to adjustment. The proceeds from the Private Units were added to
the proceeds from the IPO held in the Trust Account. Effective January 9, 2023, the underwriters fully exercised the over-allotment option
and the Company completed the private sale of an aggregate of 38,700 Private Units at a price of $10.00 per Private Unit, generating gross
proceeds of $387,000. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale
of the Private Units held in the Trust Account will be used to fund the redemption of the Public Units (subject to the requirements of
applicable law) and the Private Units will expire worthless.

Note 5 - Related Party Transactions

On September 28, 2021, the Sponsor received 1,437,500
of the Company’s Class B ordinary shares in exchange for $25,000 paid for deferred offering costs borne by the Sponsor.

    F-14

On January 8, 2022, the board of directors of the
Company and the Sponsor, as sole shareholder of the Company, approved, through a special resolution, the following share capital changes
(see Note 7):

(a) Each of the authorized but unissued 200,000,000
Class A ordinary shares were cancelled and re-designated as the