Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 6

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 6
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 2023, the Company entered into a non-interest bearing promissory note with the Sponsor for $660,000,
that is payable promptly after the completion of an initial business combination. Further, the Company has deposited a total of
$489,979
into the Trust Account to extend the deadline to complete the business combination from April 4, 2024 to January 4, 2025. The total
deposits made to date were $5,021 less than
the amount required to fully fund the extensions through January 4, 2025, and, as a result, a portion of the extensions remained
unfunded as of June 30, 2025. Thereafter, the Company entered into additional extension letters to extend the timeline of the
business combination on a monthly basis through September 4, 2025. As of June 30, 2025, the extension payments for January through
June, together with the $5,021
shortfall from prior extensions, in aggregate totaling $335,021 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 common stock subject to
possible redemption as of June 30, 2025.

    F-7

However,
if the Company has not completed a Business Combination within the Combination Period, the Company will (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of
the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned and not previously released to us to pay our taxes, if any (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then issued and outstanding Public Shares, which redemption will completely extinguish the rights of the Public
Shareholders as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of the Company’s remaining Public Shareholders and its Board of Directors,
liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors
and the requirements of other applicable law. The Sponsor has agreed to waive its rights to liquidating distributions from the Trust
Account with