Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1689

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1689
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 Company is authorized to issue 200,000,000 ordinary shares with a par value of $0.0001 per share. Holders
of ordinary shares are entitled to one vote for each share. Further, the shareholders also approved the amendment and restatement of
the memorandum and articles of association filed with the Cayman Registrar.

On
January 8, 2022, the Company issued an additional 287,500 ordinary shares to the Sponsor as fully paid bonus shares for no additional
consideration. The issuance was considered as a bonus share issuance, in substance a recapitalization transaction, which was recorded
and presented retroactively.

On
January 4, 2023, the Company consummated the IPO of 6,000,000 units at a price of $10.00 per Unit, generating gross proceeds to the Company
of $60,000,000. Simultaneously with the closing of the IPO, the Company completed the sale of 370,500 private units to the Sponsor at
a purchase price of $10.00 per Private Unit, generating gross proceeds to the Company of $3,705,000. Concurrent with the closing of the
offering, our Sponsor, at the option of the Company, sold to underwriter or its designees 115,500 Founder Shares for a purchase price
of $2.00 per share and an aggregate purchase price of $231,000, as part of the exercise of overallotment option by the underwriter.

On
January 6, 2023, the underwriters notified the Company that it is exercising the over-allotment option with respect to the 900,000 additional
Units, which was subsequently closed on January 9, 2023, generating gross proceeds to the Company of $9,000,000.

Simultaneously,
an amount of $352,350 due to related party was converted into over-allotment of Private Placement, and the underwriter deposited additional
$34,650 on behalf of Sponsor for 17,325 Founder Shares for $2.00 per share which was sold by the Sponsor to underwriters. As a result,
the Sponsor purchased an additional 38,700 Private Units, an aggregate of 409,200 units at a price of $10.00 per Private Placement Unit
(an aggregate of $4,092,000). As of December 31, 2024, there were 2,134,200 ordinary shares issued and outstanding, excluding 1,335