Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 513

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 513
---
during the period leading up to the Initial Business Combination. The Company cannot provide any assurance that its plans to raise capital
or to consummate an Initial Business Combination will be successful. Based on the foregoing, management believes that the Company lacks
the financial resources it needs to sustain operations for a reasonable period of time. Moreover, management’s plans to consummate
the initial business combination may not be successful. These factors, among others, raise substantial doubt about the Company’s
ability to continue as a going concern.

Quantitative and Qualitative Disclosures About
Market Risk

The net proceeds of the IPO and the sale of the Private
Placement Units held in the Trust Account are invested in U.S. government treasury securities with a maturity of 180 days or less or in
money market funds investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act.
Due to the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.

Related Party Transactions

On September 28, 2021, our Sponsor received 1,437,500
of the Company’s Class B ordinary shares in exchange for $25,000 paid for deferred offering costs borne by our Sponsor.

On January 8, 2022, the board of directors of the
Company and our Sponsor, as sole shareholder of the Company, approved, through a special resolution, the following share capital changes:

    (a)
    Each of the authorized but unissued 200,000,000 Class A ordinary shares were cancelled and re-designated as ordinary shares of $0.0001 par value each;

    (b)
    Each of the 1,437,500 Class B ordinary shares in issue were repurchased in consideration for the issuance of 1,437,500 ordinary shares of $0.0001 par value each; and

    (c)
    Upon completion of the above steps, the authorized but unissued 20,000,000 Class B ordinary shares were cancelled.

On January 8, 2022, the Company issued an additional
287,500 ordinary shares to our Sponsor for no additional consideration, resulting in our Sponsor holding an aggregate of 1,725,000 ordinary
shares (the founder shares). The issuance was considered as a bonus share issuance, in substance a recapitalization transaction, which
was recorded and presented retroactively. The founder shares include an aggregate of up to 225,000 ordinary shares subject to