Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 246

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 246
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3) Reflects 7,500,000
PubCo Ordinary Shares held by HCYC shareholders and 1,500,000 Earnout Shares (defined below) issuable upon the occurrence of certain
events and the Company’s meeting certain financial targets.

(4) Reflects 1,150,000
PubCo Ordinary Shares issued to PIPE investors and 2,300,000 PubCo Ordinary Shares issuable upon exercise of the Private Warrants.

(5) 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.

| 133 |

The following table illustrates the potential impact of redemptions on the per share value of the shares owned by non-redeeming AlphaTime shareholders as well as the effective underwriting fees at the following redemption levels, exclusive of the Dilutive Interests:

|                                                  |     | Redemption Level 
 100%(2)          |     |   |     | 75% |      |   |     | 50% |      |   |     | 0% |       |   |
|:-------------------------------------------------|:----|:-----------------|----:|:--|:----|:----|-----:|:--|:----|:----|-----:|:--|:----|:---|------:|:--|
| Implied value per public share - Pre-Closing     |     | $                |   0 |   |     | $   | 1.47 |   |     | $   | 2.59 |   |     | $  |  4.21 |   |
| Implied Value per public share - Post Closing(1) |     | $                | n/a |   |     | $   | 0.39 |   |     | $   | 0.76 |   |     | $  |  1.42 |   |
| Impact of Underwriting Fees                      |     | $                | n/a |   |     | $   |  n/a |   |     | $   |  n/a |   |     | $  |  0.68 |   |
| Effective Underwriting Fee %                     |     |                  | n/a | % |     |     |  n/a | % |     |