Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 63

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 63
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 pursuant to Section 4.6(d) of the Merger Agreement, the maximum aggregate number of Earnout Shares available to Pre-Closing Company Shareholders pursuant to Section 4.6 of the Merger Agreement shall not exceed 1,500,000. PIPE Financing O n August 14, 2025 HCYC Holding Company entered into securities purchase agreements (the “HCYC SPA”), which was intended to be amended and restated on September 14, 2025 by the securities purchase agreement between AlphaTime and the purchasers party thereto (the “ATMC SPA”), which the HCYC SPA and the ATMC SPA were in turn amended and restated on September 16, 2025 in that certain securities purchase agreement between HCYC, AlphaTime and the purchasers party thereto (the “A&R SPA”, collectively with the HCYC SPA and the ATMC SPA, the “Purchase Agreement”) with certain institutional investors (the “PIPE Investors”) for a total of $11.5 million in PIPE financing in exchange for 1,150,000 Ordinary Shares and 2,300,000 warrants to purchase Ordinary Shares. The financing is contingent upon the consummation of the Business Combination and had a purchase price of $10 per share. The Purchase Agreement includes standard representations and warranties, indemnification obligations, and confidentiality covenants. The Purchase Agreement and the warrants also include customary beneficial ownership limitations, pursuant to which a holder may not exercise the warrants or convert securities issued under the Purchase Agreement to the extent such exercise or conversion would result in the holder beneficially owning more than 4.99% (or, at the election of the holder upon written notice and in accordance with the terms of the agreement, 9.99%) of the Company’s outstanding Ordinary Shares immediately after giving effect to such exercise or conversion. The warrants have an expiration date of five (5) years from the date of issuance and an exercise price of $10.00. The warrant also provides for a Cashless Exercise option, allowing the holder to exercise the warrants without payment of the exercise price in cash, as described in the warrant agreement. Additionally beginning three (3) months after the initial exercise date, in lieu of the Ordinary Shares to be issued in a Cashless Exercise, the holder may elect to exchange all, or any part, of the warrant into such aggregate number of Ordinary Shares equal to the product of (x) 0.8 and (y) such aggregate number of Ordinary Shares underlying such portion of