Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 539

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 539
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 Sponsor purchased an aggregate of 370,500 Private Placement Units for a purchase
price of $10.00 per unit in a private placement. On January 9, 2023, our Sponsor purchased 38,700 Private Placement Units in connection
with the exercise of the over-allotment. Each private unit consists of one private share, one private warrant, and one private right
entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Each
whole warrant is exercisable to purchase one ordinary share at $11.50 per share, subject to adjustment as described in our Registration
Statement. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private
Placement Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private
Placement Units will expire worthless.

Service
Arrangements

On
December 30, 2022, we entered into an administrative services agreement with our Sponsor, pursuant to which the Sponsor agreed to make
available to the Company certain general and administrative services, including office space, utilities and administrative services,
as the Company may require from time to time. The Company has agreed to pay to the affiliate of the Sponsor $10,000 per month for such
administrative services. For the period from September 15, 2021 (inception) through December 31, 2024, the Company incurred and paid
$0 in such fees.

Conflicts
of Interest

Certain
of our officers and directors presently have, and any of them in the future may have additional, fiduciary or contractual obligations
to other entities pursuant to which such officer or director is or will be required to present business combination opportunities to
such entity. Accordingly, in the future, if any of our officers or directors becomes aware of a Business Combination opportunity which
is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor his or her fiduciary
or contractual obligations to present such opportunity to such entity. We do not believe, however, that any fiduciary duties or contractual
obligations of our officers arising in the future would materially undermine our ability to complete our Business Combination.

Promissory
Notes - Related Party

On
September 21, 2021, the Company issued an unsecured promissory note to the Sponsor (the “Prom