Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1060

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 9C
Chunk 1060
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, the Sponsor purchased an additional 38,700 Private Units, an aggregate of 409,200 units at
a price of $10.00 per Private Placement Unit (an aggregate of $4,092,000).

On
January 3, 2023, the Founder Shares and Private Units were placed into an escrow account maintained by American Stock Transfer &
Trust Company acting as escrow agent. The Founder Shares and Private Units (and underlying securities) will not, subject to certain exceptions,
be transferred, assigned, sold or released from escrow in the case of (i) 50% of the Founder Shares and Private Units (and underlying
securities) until the earlier to occur of: (A) six months after the date of the consummation of our initial business combination, or
(B) the date on which the closing price of our ordinary shares equals or exceeds $12.50 per share (as adjusted for share splits, share
dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after our initial
business combination and (ii) the remaining 50% of the Founder Shares 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-17 

Promissory
Notes - Related Party

On
September 30, 2021, the Sponsor issued an unsecured promissory note to the Company (the “Promissory Note”), pursuant to which
the Company may borrow up to an aggregate principal amount of $300,000. The Promissory Note was amended and restated on November 23,
2021, to change the December 31, 2021 due date to March 31, 2022, amended and restated on January 26, 2022 to change the March 31, 2022
due date to May 31, 2022 and amended and restated again on October 20, 2022 to change the May 31, 2022 due date to December 31, 2022.
The Promissory Note was non-interest bearing and