Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 258

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 258
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000,000
units (the “Units”), at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously with the closing of our
IPO, we consummated the sale of 370,500 Private Placement Units at a price of $10.00 per Private Placement Unit in a private placement
to the Sponsor, generating total gross proceeds of $3,705,000.

On January 6, 2023, and effective January 9, 2023,
the underwriters in our IPO purchased an additional 900,000 Units to exercise its over-allotment option in full at a purchase price of
$10.00 per Unit, generating gross proceeds of $9,000,000. Simultaneously with the closing of the full exercise of the over-allotment option,
we completed the private sale of an aggregate of 38,700 Private Placement Units, at a purchase price of $10.00 per Private Placement Unit,
generating gross proceeds of $387,000. Transaction costs amounted to $4,892,699 consisting of $1,612,500 of underwriting discount, $2,415,000
of deferred underwriting commission and $865,199 of other offering costs.

Following the closing of our IPO and the sale of over-allotment
units, an aggregate of $70,242,000 ($10.18 per Unit) from the net proceeds and the sale of the Private Placement Units was held in a Trust
Account (“Trust Account”). As of December 31, 2024, we had marketable securities held in the Trust Account of $15,240,284
consisting of securities held in a treasury money market fund that invests in United States government treasury bills, bonds or notes
with a maturity of 180 days or less. We intend to use substantially all of the funds held in the Trust Account, including any amounts
representing income earned on the Trust Account (less amounts released to us for taxes payable and deferred underwriting commissions)
to complete our initial business combination. We may withdraw interest and dividend income to pay taxes, if any. Our annual income tax
obligations will depend on the amount of interest and other income earned on the amounts held in the Trust Account. We expect the interest
and dividend income earned on the amount in the Trust Account (if any) will be sufficient to pay our taxes. Through December 31, 2024,
we did not withdraw any income