Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 350

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 350
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 the private sale of an aggregate of 38,700 Private Placement Units, at a purchase price of $10.00 per Private Placement Unit,
generating gross proceeds of $387,000.

Our Sponsor will be permitted to transfer the private
units held by them to certain permitted transferees, including our officers and directors and other persons or entities affiliated with
or related to it or them, but the transferees receiving such securities will be subject to the same agreements with respect to such securities
as the founders. Otherwise, these private units (and underlying securities) will be subject to certain transfer restrictions, subject
to certain limited exceptions, as described under “Principal Shareholders — Restrictions on Transfers of Founder Shares and
Private Units.”

Promissory Notes — Related Party

On September 30, 2021, the Sponsor issued an unsecured
promissory note to the Company (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal
amount of $300,000. The Promissory Note was amended and restated on November 23, 2021, to change the December 31, 2021 due date to March
31, 2022, amended and restated on January 26, 2022 to change the March 31, 2022 due date to May 31, 2022 and amended and restated again
on October 20, 2022 to change the May 31, 2022 due date to December 31, 2022. The Promissory Note was non-interest bearing and payable
on the earlier of (i) December 31, 2022, or (ii) the consummation of the IPO.

On September 27, 2023, the Company notified Equiniti
Trust Company, the trustee of the Company’s trust account (the “Trust Account”), that it was extending the time available
to the Company to consummate its initial business combination from October 4, 2023, to January 4, 2024 (the “Extension”).
The Extension is the first of up to three (3) three-month extensions permitted under the Company’s governing documents.

73

On September 27, 2023, the Company extended the time
to complete its initial business combination from October 4, 2023 to January 4, 2024 by depositing an aggregate of $690,000 into the Trust
Account.