Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 145

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 145
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, the Company deposited $165,000 into
the Trust Account to extend the deadline to complete the business combination from January 4, 2024 to April 4, 2024. In connection
with this extension, on December 28, 2023, the Company entered into a non-interest bearing promissory note with the Sponsor for
$660,000,
that is payable on the earlier of January 4, 2025 or promptly after the completion of an initial business combination. Further, the
Company has deposited a total of $385,000 into the Trust Account to extend the deadline to complete the business combination from
April 4, 2024 to November 4, 2024. On November 4, 2024 and December 4, 2024,  the Company entered into monthly
extension letters with the sponsors to extend the timeline of the business combination from November 4, 2024 to December 4, 2024,
from December 4, 2024 to January 4, 2025,  respectively. The November and December
extension funds were deposited into the trust account following December 31, 2024, and as a result, did not accrue interest income
during that period. The November and December extension payments were not included in the common stock subject to possible
redemption figures as of December 31, 2024.

     F-9 

However,
if the Company has not completed a Business Combination within the Combination Period, the Company will (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of
the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned and not previously released to us to pay our taxes, if any (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then issued and outstanding Public Shares, which redemption will completely extinguish the rights of the Public
Shareholders as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of the Company’s remaining Public Shareholders and its Board of Directors,
liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors