Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 51

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 51
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 at the Extraordinary General Meeting of AlphaTime to approve the First SPAC Merger and follow the procedures set out in section 238 of the Cayman Companies Act, noting that any such dissenter rights may subsequently be lost and extinguished pursuant to section 239 of the Cayman Companies Act which states that no such dissenter rights shall be available in respect of shares of any class for which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the expiry date of the period allowed for written notice of an election to dissent provided that the merger consideration constitutes inter alia shares of any company which at the effective date of the merger are listed on a national securities exchange. See “ Extraordinary General Meeting of AlphaTime Shareholders - Redemption Rights” for a detailed description of the procedures to be followed if you wish to redeem your public shares for cash.

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Q: What happens to the funds deposited in the Trust Account after consummation of the Business Combination?

A: Of the net proceeds of AlphaTime’s initial public offering and simultaneous private placement, a total of $70,242,000 was placed in the Trust Account immediately following the initial public offering. In connection with an extraordinary general meeting of the shareholders of AlphaTime held on December 28, 2023 for purposes of voting on an amendment to the Existing AlphaTime Articles to give AlphaTime the right to extend the date by which it has to consummate a business combination, AlphaTime shareholders properly elected to redeem an aggregate of 2,160,774 ATMC Ordinary Shares at a redemption price of approximately $10.78 per share for an aggregate redemption amount of approximately $23,302,146, following which redemptions approximately $51,108,602 remained in the Trust Account. In connection with an extraordinary general meeting of the shareholders of AlphaTime held on December 20, 2024 for purposes of voting on an amendment to AlphaTime’s the Existing AlphaTime Articles to give AlphaTime the right to extend the date by which it has to consummate a business combination, AlphaTime shareholders properly elected to redeem an aggregate of 3,403,976 ATMC Ordinary Shares at a redemption price of approximately $11.41 per share for an aggregate redemption amount of approximately $38,852,320.60, following which redemptions approximately $15,240,284 remained in the Trust Account. After consummation of the Business Combination, the funds in the Trust Account will be released to pay holders of the ATMC Ordinary Shares