Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 10

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 10
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 “Second Amendment”) reflecting the extension of the date by
which the Company must consummate a business combination from the Extended Date up to nine (9)
times, each comprised of one month each (each an “Extension”) up to October 4, 2025 (i.e., for a period of time ending
up to 33 months after the consummation of its Initial Public Offering for a total of nine (9) months after the Extended Date
(assuming a business combination has not occurred). The Company also entered into an amendment (the “Second Trust Agreement
Amendment”) to the Trust Agreement. Pursuant to the Second Trust Agreement Amendment, the Company has extended the date by
which it has to complete a business combination 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, the Company had 3,469,450 Ordinary Shares outstanding.

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