Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 9

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 9
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 2024 to February 4, 2025. The total deposits made to date were $10,061 less than the amount required to fully
fund the extensions through February 4, 2025. Thereafter, the Company entered into extension letters to extend the timeline of the business
combination on a monthly basis through October 4, 2025. As of September 30, 2025, the extension payments relating to January through
June 2025, together with the $10,061 shortfall from prior extensions, in aggregate totaling $450,061 had not yet been deposited into
the Trust Account and, accordingly, did not accrue interest income during the period. These extension payments were also not included
in the common stock subject to possible redemption as of September 30, 2025. Pursuant to the extension amendment approved by the shareholders
by special resolution at the meeting on December 28, 2023, the Company has adopted the Company’s Third Amended and Restated Memorandum
and Articles of Association, reflecting the extension of the date by which the Company must consummate a business combination from January
4, 2024, (the “Termination Date”) up to ten (10) times, with the first extension comprised of three months, and the subsequent
nine (9) extensions comprised of one month each up to January 4, 2025, by providing five days’ advance notice to the trustee prior
to the applicable Termination Date, or extended date, and depositing into the trust account (the “Trust Account”) $55,000
for each monthly extension (the “Extension Payment”) until January 4, 2025 (the “Extended Date”) (for a period
of time ending up to 24 months after the consummation of its initial public offering) 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 meeting on December 28, 2023, 2,160,774 ordinary shares of the Company exercised
their right to redeem such shares (the “Redemption”) for a pro rata portion of the funds held in the Trust Account. As a
result, approximately $23,302,146 (approximately $10.78 per share) has been removed from the Trust Account to pay such holders and approximately
$51,712,221 remained in the Trust Account. Following the Redemption,