Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 55

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 2
Chunk 55
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 by our founders or their affiliates, if any, have not been determined
and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our founders or an
affiliate of our founders as we do not believe third parties will be willing to loan such funds and provide a waiver against any and
all rights to seek access to funds in our trust account, but in the event that we seek loans from any third parties, we will obtain a
waiver against any and all rights to seek access to funds in our trust account.

Pursuant
to the extension amendment approved by the shareholders by special resolution at the meeting on December 28, 2023, the Company has adopted
the Company’s Third Amended and Restated Memorandum and Articles of Association, reflecting the extension of the date by which
the Company must consummate a business combination from January 4, 2024, (the “Termination Date”) up to ten (10) times, with
the first extension comprised of three months, and the subsequent nine (9) extensions comprised of one month each up to January 4, 2025,
by providing five days’ advance notice to the trustee prior to the applicable Termination Date, or extended date, and depositing
into the trust account (the “Trust Account”) $55,000 for each monthly extension (the “Extension Payment”) up
to January 4, 2025 (the “Extended Date”) (i.e., for a period of time ending up to 24 months after the consummation of its
initial public offering) in exchange for a non-interest bearing, unsecured promissory note payable upon the consummation of a business
combination.

In
connection with the shareholders’ vote at the meeting on December 28, 2023, 2,160,774 ordinary shares of the Company exercised
their right to redeem such shares (the “Redemption”) for a pro rata portion of the funds held in the Trust Account. As a
result, approximately $23,302,146 (approximately $10.78 per share) has been removed from the Trust Account to pay such holders and approximately
$51,712,221 remained in the Trust Account. Following the redemptions, the Company has 6,873,426 ordinary shares outstanding.

At
an extraordinary general meeting of shareholders held on December 20, 2024 (the “Second Meeting”), the Company adopted an
amendment