Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 40

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 40
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 be identical to the private units sold in the private placement. The terms of such loans by our founders
or their affiliates, if any, have not been determined and no written agreements exist with respect to such loans. We do not expect to
seek loans from parties other than our founders or an affiliate of our founders as we do not believe third parties will be willing to
loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account, but in the event that we
seek loans from any third parties, we will obtain a waiver against any and all rights to seek access to funds in our trust account.

Private
Placement Units

On
January 4, 2023, simultaneously with the closing of our IPO, we consummated the sale of 370,500 Private Placement Units at a price of
$10.00 per Private Placement Unit in a private placement to the Sponsor, generating total gross proceeds of $3,705,000.

On
January 6, 2023, and effective January 9, 2023, the underwriters in our IPO purchased an additional 900,000 Units to exercise its over-allotment
option in full at a purchase price of $10.00 per Unit, generating gross proceeds of $9,000,000. Simultaneously with the closing of the
full exercise of the over-allotment option, we completed 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 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, 202