Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 36

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 36
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from the Extended Date up to nine (9) times, each comprised of one month each from the Extended Date, as applicable, to October 4, 2025
by providing five days’ advance notice to the trustee prior to the applicable 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, AlphaTime had 3,469,450 Ordinary Shares outstanding.

3

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