Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1486

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1486
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2 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of PubCo (“Merger Sub 2”), and HCYC
Merger Sub Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of PubCo (“Merger Sub 3”, and together
with PubCo, Merger Sub 1 and Merger Sub 2, the “Acquisition Entities”), and HCYC Group Company Limited, Cayman Islands exempted
company (“HCYC”).

Pursuant
to the Merger Agreement, the parties thereto will enter into a Business Combination transaction (the “HCYC Business Combination”)
by which (i) the Company will merge with and into Merger Sub 1, with the Company surviving such merger; (ii) the Company will merge with
and into Merger Sub 2, with Merger Sub 2 surviving such merger; and (iii) HCYC will merge with and into Merger Sub 3, with HCYC surviving
such merger (collectively, the “Mergers”). The Merger Agreement and the Mergers were unanimously approved by the boards of
directors of each of the Company and HCYC.

The HCYC Business Combination is expected to be consummated after obtaining
the required approval by the shareholders of the Company and HCYC and the satisfaction of certain other customary closing conditions.

Pursuant
to the Merger Agreement, the Pre-Closing Company Shareholders (as defined in the Merger Agreement) are entitled to receive their Pro
Rata Portion (as defined in the Merger Agreement) of up to 1,500,000 PubCo Ordinary Shares (as defined in the Merger Agreement) in the
manner described in the Merger Agreement.

The
Merger Agreement contains certain covenants, including, among other things, providing for (i) the parties to conduct their respective
business in the ordinary course through the Closing; (ii) the parties to not initiate any negotiations or enter into any agreements for
certain transactions; (iii) the Company, PubCo and HCYC to jointly prepare and the Company and HCYC to jointly file a registration statement
(the “Registration Statement”) and take certain other actions to obtain the approval of the Mergers from the shareholders
of the Company and (iv) the parties to use reasonable best efforts to consummate and implement the Mergers and Business Combination.

Transaction
Financing

P