Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 457

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 457
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 for an aggregate purchase price of $25,000. On January 8, 2022, our
Sponsor acquired an additional 287,500 Founder Shares for no additional consideration, resulting in our Sponsor holding an aggregate
of 1,725,000 Founder Shares. Prior to the initial investment in the company of $25,000 by our Sponsor, the company had no assets, tangible
or intangible. The number of Founder Shares issued was determined based on the expectation that such Founder Shares would represent approximately
20% of the outstanding shares upon completion of this offering (excluding the private shares and shares underlying the UPO). Concurrent
with the closing of the Initial Public Offering, our Sponsor sold to Chardan or its designees 132,825 of these Founder Shares at a purchase
price of $2.00 per share and an aggregate purchase price of $265,650.

Private
Placement

Simultaneously
with the closing of the Initial Public Offering, our Sponsor purchased an aggregate of 370,500 Private Placement Units for a purchase
price of $10.00 per unit in a private placement. On January 9, 2023, our Sponsor purchased 38,700 Private Placement Units in connection
with the exercise of the over-allotment. Each private unit consists of one private share, one private warrant, and one private right
entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Each
whole warrant is exercisable to purchase one ordinary share at $11.50 per share, subject to adjustment as described in our Registration
Statement. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private
Placement Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private
Placement Units will expire worthless.

Service
Arrangements

On
December 30, 2022, we entered into an administrative services agreement with our Sponsor, pursuant to which the Sponsor agreed to make
available to the Company certain general and administrative services, including office space, utilities and administrative services,
as the Company may require from time to time. The Company has agreed to pay to the affiliate of the Sponsor $10,000 per month for such
administrative services. For the period from September 15, 2021 (inception) through December 31, 2024, the Company incurred and paid
$0 in such