Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1739

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1739
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founders and other insiders may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you
do not support.

Our
Sponsor and Initial Shareholders own Founder Shares representing 61.5% of our issued and outstanding Ordinary Shares (excluding the private
shares and shares underlying the UPO). In connection with the closing of our Initial Public Offering, we issued 409,200 Private Placement
Units. In addition, if our founders or their designated parties make any working capital loans, up to $300,000 of such loans may be converted
into working capital units, at the price of $10.00 per unit at the option of the lenders. Such working capital units would be identical
to the Private Placement Units sold in the private placement. Accordingly, our founders along with any designated parties may exert a
substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments
to our Third Amended and Restated Memorandum and Articles of Association and approval of major corporate transactions. If our founders
purchase any Units in our Initial Public Offering or if they purchase any additional Ordinary Shares in the aftermarket or in privately
negotiated transactions, this would increase their control. Factors that would be considered in making such additional purchases would
include consideration of the current trading price of our Ordinary Shares. In addition, our Board, whose members were elected by certain
of our Initial Shareholders, is and will be divided into three classes, each of which will generally serve for a term of three years
with only one class of directors being elected in each year. There is no requirement under the Companies Act for us to hold annual or
general meetings to elect directors. We may not hold an annual meeting of shareholders to elect new directors prior to the completion
of our Business Combination, in which case all of the current directors will continue in office until at least the completion of the
business combination. If there is an annual meeting, as a consequence of our “staggered” Board, only a minority of the Board
will be considered for election and our Initial Shareholders, because of their ownership position, will have considerable influence regarding
the outcome. Accordingly, our Initial Shareholders will continue to exert control at least until the completion of our Business Combination.

Post
Business Combination Risks

Our
management may not be able to maintain control of a target business after our initial business combination. We cannot provide assurance
that, upon loss of control of a target business