Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 717

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7A
Chunk 717
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 or extended date, and depositing into the Trust Account an Extension Payment of $55,000 until October 4, 2025 (assuming
a business combination has not occurred) 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 Second Meeting, holders of 3,403,976 Ordinary Shares of the Company exercised their
right to redeem such shares (the “Second Redemption”) for a pro rata portion of the funds held in the Trust Account. As a
result, approximately $38,852,320.60 (approximately $11.41 per share) was removed from the Trust Account to pay such holders and approximately
$15,240,284 remained in the Trust Account. Following the aforementioned Second Redemption, the Company had 3,469,450 Ordinary Shares outstanding.

On
January 5, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company,
HCYC Holding Company (“PubCo”), ATMC Merger Sub 1 Limited (“Merger Sub 1”), ATMC Merger Sub 2 Limited (“Merger
Sub 2”), and HCYC Merger Sub Limited (“Merger Sub 3”, and together with PubCo, Merger Sub 1 and Merger Sub 2, the “Acquisition
Entities”), and HCYC Group Company Limited, Cayman Islands exempted company (“HCYC”). Pursuant to the Merger Agreement,
the parties thereto will enter into a business combination transaction by which (i) the Company will merge with and into Merger Sub 1,
with the Company surviving such merger; (ii) the Company will merge with and into Merger Sub 2, with Merger Sub 2 surviving such merger;
and (iii) HCYC will merge with and into Merger Sub 3, with HCYC surviving such merger (collectively, the “Mergers”). The
Merger Agreement and the Mergers were unanimously approved by the boards of directors of each of the Company and HCYC. The Business Combination
is expected to be consummated after obtaining the required approval by the shareholders of the Company and HCYC and the satisfaction
of certain other customary closing conditions.

     F-11 

Risks
and Uncertainties

Management
is currently evaluating the impact of the risk of