Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 33

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 33
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 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 to the Third Amended and Restated Memorandum and Articles of Association (the “Second Amendment”)
reflecting the extension of the date by which the Company must consummate a business combination from the Extended Date up to nine
(9) times, each comprised of one month each (each an “Extension”) up to October 4, 2025 (i.e., for a period of time
ending up to 33 months after the consummation of its Initial Public Offering for a total of nine (9) months after the Extended
Date (assuming a business combination has not occurred). The Company also entered into an amendment (the “Second Trust
Agreement Amendment”) to the Trust Agreement. Pursuant to