Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1543

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1543
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 based on the expectation that such Founder Shares would represent 20% of the outstanding shares after our Initial
Public Offering (excluding the private shares and shares underlying the UPO). The Founder Shares will be worthless if we do not complete
an initial business combination. In addition, our Sponsor purchased an aggregate of 409,200 Private Placement Units, at $10.00 per unit,
for a purchase price of approximately $4,092,000. The Founder Shares and Private Placement Units will be worthless if we do not complete
an initial business combination. Our Initial Shareholders have agreed (A) to vote any shares owned by them in favor of any proposed business
combination and (B) not to redeem any Founder Shares or private shares in connection with a shareholder vote to approve a proposed initial
business combination. In addition, we may obtain loans from our founders. The personal and financial interests of our founders may influence
their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing
the operation of the business following the initial business combination.

The
provisions of our Third Amended and Restated Memorandum and Articles of Association, as amended, that relate to our pre-business combination
activity (and corresponding provisions of the agreement governing the release of funds from our Trust Account) may be amended with the
approval of holders of two-thirds of our Ordinary Shares, which is a lower amendment threshold than that of some other blank check companies.
It may be easier for us, therefore, to amend our Third Amended and Restated Memorandum and Articles of Association, as amended and the
Trust Agreement to facilitate the completion of an initial business combination that some of our shareholders may not support.

Some
other blank check companies have a provision in their charter which prohibits the amendment of certain of its provisions, including those
which relate to a company’s pre-business combination activity, without approval by a certain percentage of the company’s
shareholders. In those companies, amendment of these provisions requires approval by between 90% and 100% of the company’s public
shareholders. Our Third Amended and Restated Memorandum and Articles of Association, as amended, provides that any of its provisions
related to pre-business combination activity (including the requirement to deposit proceeds of our Initial Public Offering and the Private
Placement Units into the Trust Account and not release such amounts except in specified circumstances, and to provide redemption rights
to public shareholders as described herein) may be amended if approved by holders of two-thirds of our Ordinary Shares