Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1282

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 13
Chunk 1282
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2022, the board of directors of the Company and the Sponsor, as sole shareholder of the Company, approved, through a special
resolution, the following share capital changes:

(a)
Each of the authorized but unissued 200,000,000 Class A ordinary shares were cancelled and re-designated as the ordinary shares of $0.0001
par value each;

(b)
Each of the 1,437,500 Class B ordinary shares in issue were repurchased in consideration for the issuance of 1,437,500 ordinary shares
of $0.0001 par value each; and

(c)
Upon completion of the above steps, the authorized but unissued 20,000,000 Class B ordinary shares were cancelled.

As
an effect of the above, the Company is authorized to issue 200,000,000 ordinary shares with a par value of $0.0001 per share. Holders
of ordinary shares are entitled to one vote for each share. Further, the shareholders also approved the amendment and restatement of
the memorandum and articles of association filed with the Cayman Registrar.

On
January 8, 2022, the Company issued an additional 287,500 ordinary shares to the Sponsor as fully paid bonus shares for no additional
consideration. The issuance was considered as a bonus share issuance, in substance a recapitalization transaction, which was recorded
and presented retroactively.

On
January 4, 2023, the Company consummated the IPO of 6,000,000 units at a price of $10.00 per Unit, generating gross proceeds to the Company
of $60,000,000. Simultaneously with the closing of the IPO, the Company completed the sale of 370,500 private units to the Sponsor at
a purchase price of $10.00 per Private Unit, generating gross proceeds to the Company of $3,705,000. Concurrent with the closing of the
offering, our Sponsor, at the option of the Company, sold to underwriter or its designees 115,500 Founder Shares for a purchase price
of $2.00 per share and an aggregate purchase price of $231,000, as part of the exercise of overallotment option by the underwriter.

On
January 6, 2023, the underwriters notified the Company that it is exercising the over-allotment option with respect to the 900,000 additional
Units, which was subsequently closed on January 9,