Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 168

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 168
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 Shares
held by HCYC shareholders.

(5) Reflects 1,150,000 PubCo Ordinary Shares issued to PIPE investors.

(6) Assumes that ATMC public shareholders holding
approximately 417,436 ATMC Ordinary Shares subject to possible redemption will exercise their redemption rights upon consummation
of the Business Combination at a redemption price of approximately $12.38 per share.

| 88 |

The following table presents pro forma voting power
and implied ownership of PubCo inclusive of the Dilutive Interests. The following table assumes (i) the Dilutive Interests have been
fully exercised and/or vested, (ii) any conditions to the issuance of such Dilutive Interests have been fully satisfied, and (iii) such
Dilutive Interests were issued in connection with the consummation of the Business Combination, such that the voting power and implied
ownership of PubCo immediately following the consummation of the Business Combination is as follows:

|                             |     | No Further Redemption Scenario |            |     |                                        |     |     | 50% Redemption Scenario |            |     |                                        |     |     | 75% Redemption Scenario |            |     |                                        |     |     | 100%                   
 Redemption Scenario(5) |            |     |                                        |    |
|                             |     | PubCo                          
 Ordinary Shares                |            |     | Voting Power and Implied Ownership (%) |     |     | PubCo                   
 Ordinary Shares         |            |     | Voting Power and Implied Ownership (%) |     |     | PubCo                   
 Ordinary Shares         |            |     | Voting Power and Implied Ownership (%) |     |     | PubCo                  
 Ordinary Shares        |            |     | Voting Power and Implied Ownership (%) |    |
| Public Shareholders(1)      |     |                                |  8,007,436 |     |                                        |  35 |     |                         |  7,798,718 |     |                                        |  34 |     |                         |  7,694,359 |     |                                        |  34 |     |                        |  7,590,000 |     |                                        | 33 |
| Sponsors and its affiliates 
 (2)                         |     |                                |  2,584,320 |     |                                        |  11 |     |                         |  2,584,320 |     |                                        |  11 |     |                         |  2,584