Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 582

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 582
---
 January 9, 2023, the underwriters
exercised their over-allotment option in full and purchased an additional 900,000 units at $10.00 per unit.

On
January 4, 2023, the Company paid a fixed underwriting discount of $1,500,000 and on January 9, 2023, it paid an additional $112,500
of underwriting discount arising from the sale of the over-allotment units. The underwriters will be entitled to a deferred underwriting
commission of $0.35 per Unit, or $2,415,000 in the aggregate. The deferred underwriting commission will be paid to the underwriters from
the amounts held in the Trust Account solely if the Company completes a business combination, subject to the terms of the underwriting
agreement.

Unit
Purchase Option

On
December 30, 2022, we sold to the underwriters, for $100, 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 our 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 commencement of sales in our 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 5110(e)(2). The Company determined fair
value of the Unit Purchase Option issued to the underwriters and recorded an amount to additional paid-in capital, net of purchased cost,
in the balance sheets on the day of the IPO which is the grant date.

     F-19 

Note
7 - Shareholders’ Equity

Preferred
Shares - The Company is authorized to issue 1,000,000 shares of