Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 287

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 287
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 promptly after the date of the consummation of the business combination. As of June 30, 2025 and December 31, 2024, there were outstanding as loan amounts of $1,262,500 and $1,262,500, respectively, against a promissory note issued to the Sponsor for extension of the period of business combination from October 4, 2023 to November 4, 2024. In addition, the Company borrowed an loan of $104,979 from HCYC to extend the business combination period from November 4, 2024 to January 4, 2024. The total deposits made to date were $5,021 less than the amount required to fully fund the extensions through January 4, 2025. On January 4, 2025, February 4, 2025, March 4, 2025, April 4, 2025, May 4, 2025, June 4, 2025, July 4, 2025, August 4, 2025, September 4, 2025 and October 4, 2025, the Company entered into extension letters to extend the timeline of the business combination on a monthly basis through November 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, 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 ordinary shares subject to possible redemption as of June 30, 2025.

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Due to Related Parties

The Sponsor paid certain formation, operating or deferred offering costs on behalf of the Company. These amounts are due on demand and non-interest bearing. As of June 30, 2025 and December 31, 2024, due to related party amounted to $754,589 and $568,299, respectively.

Administration fee

Commencing on the effective date of the registration statement, an affiliate of the Sponsor shall be allowed to charge the Company an allocable share of its overhead, up to $10,000 per month up to the close of the business combination, to compensate it for the Company’s use of its offices, utilities and personnel. An administration fee of $30,000 was recorded for both the three months ended June 30, 202