Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 9

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 9
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 loan of $104,979
borrowed from HCYC (as defined below) to extend the business combination period from November 4, 2024 to January 4, 2025. The total
deposits made to date were $5,021 less than
the amount required to fully fund the extensions through January 4, 2025. Thereafter, the Company entered into extension letters to
extend the timeline of the business combination on a monthly basis through September 4, 2025. As of June 30, 2025, the extension
payments relating to January through June 2025, together with the $5,021
shortfall from prior extensions, in aggregate totaling $335,021 had not yet been deposited into the Trust Account and, accordingly,
did not accrue interest income during the period. These extension payments were also not included in the common stock subject to
possible redemption as of June 30, 2025. Pursuant to the extension amendment approved by the shareholders by special resolution at
the meeting on December 28, 2023, the Company has adopted the Company’s Third Amended and Restated Memorandum and Articles of
Association, reflecting the extension of the date by which the Company must consummate a business combination from January 4, 2024,
(the “Termination Date”) up to ten (10) times, with the first extension comprised of three months, and the subsequent
nine (9) extensions comprised of one month each up to January 4, 2025, by providing five days’ advance notice to the trustee
prior to the applicable Termination Date, or extended date, and depositing into the trust account (the “Trust Account”)
$55,000 for
each monthly extension (the “Extension Payment”) until January 4, 2025 (the “Extended Date”) (for a period
of time ending up to 24 months after the consummation of its initial public offering) in exchange for a non-interest bearing,
unsecured promissory note payable upon the consummation of a business combination.

In
connection with the shareholders’ vote at the meeting on December 28, 2023, 2,160,774 ordinary shares of the Company exercised
their right to redeem such shares (the “Redemption”) for a pro rata portion of the funds held in the Trust Account. As a
result, approximately $23,302,146 (approximately $10.78 per