Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1570

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1570
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. If the acquisition is considered
to be within the scope of the Security Review Regulations, the Department of Commerce will transfer the application to a joint security
review committee within five business days for further review. The joint security review committee, consisting of members from various
PRC government agencies, will conduct a general review and seek comments from relevant government agencies. The joint security review
committee may initiate a further special review and request the termination or restructuring of the contemplated acquisition if it determines
that the acquisition will result in significant national security issue.

48

The
Security Review Regulations will potentially subject a large number of mergers and acquisitions transactions by foreign investors in
China to an additional layer of regulatory review. Currently, there is significant uncertainty as to the implication of the Security
Review Regulations. Neither the Department of Commerce nor other PRC government agencies have issued any detailed rules for the implementation
of the Security Review Regulations. If, for example, our potential initial business combination is with a target company operating in
the PRC in any of the sensitive sectors identified above, the transaction will be subject to the Security Review Regulations, and we
may have to spend additional resources and incur additional time delays to complete any such acquisition. There is no guarantee that
we can receive such approval in a timely manner, and we may also be prevented from pursuing certain investment opportunities if the PRC
government considers that the potential investments will result in a significant national security issue. If obtained, since our Business Combination period is 24 months from the closing of our Initial Public Offering, or if we decide to extend the period of time to consummate
our Business Combination, 33 months from the closing of our Initial Public Offering (as further described in our Registration Statement)
and the approval process may take a period longer than we expect before we enter into a definitive agreement with a target company, we
may be unable to complete a Business Combination within 24 months from the closing of our Initial Public Offering, or if we decide to
extend the period of time to consummate our Business Combination, within 33 months from the closing of our Initial Public Offering (as
further described in our Registration Statement).

Our
initial business combination may be subject to a variety of PRC laws and other obligations regarding cybersecurity and data protection,
and we may have to spend additional resources and incur additional time delays to complete any such business combination or be prevented
from pursuing certain investment opportunities.

Our
initial business combination may be subject to PRC laws relating to the collection, use, sharing