Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 58

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 58
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 financing activities                                                                                        |     | $ |        619,955 |   |     | $ |        512,865 |   |

<div align='center'>HCYC had gross profit of $961,521 for the fiscal year ended March 31, 2025, compared to $1,407,344 for the same period of 2024. HYCY had net loss of $792,883 for the fiscal year ended March 31, 2025, compared to a net loss of $18,206 for the same period of 2024. To date, HCYC has financed its operations primarily through contributions from shareholders and borrowings from related parties. As of March 31, 2025, HCYC had $523,013 in cash and cash equivalents. The Business Combination Proposal The Merger Agreement contemplates three mergers in connection with the Business Combination, consisting of the First SPAC Merger, the Second SPAC Merger and the Acquisition Merger. At the effective time of the First SPAC Merger, Merger Sub 1 will be merged with and into AlphaTime, and the separate corporate existence of Merger Sub 1 will cease and AlphaTime will continue as the surviving company under the laws of the Cayman Islands. Immediately following the First SPAC Merger and at the effective time of the Second SPAC Merger, AlphaTime will be merged with and into Merger Sub 2 and Merger Sub 2 will continue as the surviving company in the Second SPAC Merger under the laws of the Cayman Islands as a wholly-owned subsidiary of PubCo. Following the Second SPAC Merger, at the effective time of the Acquisition Merger, HCYC Merger Sub will be merged with and into HCYC. Following the Acquisition Merger, the separate corporate existence of HCYC Merger Sub will cease and HCYC will continue as the surviving company in the Acquisition Merger under the laws of the Cayman Islands and become a wholly-owned subsidiary of PubCo.</div>

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Reasons for the Structure of the Business Combination

As described above and contemplated by the Merger Agreement, the Business Combination will be consummated via a multiple-merger structure (also known as “double dummy”), consisting of the Initial Mergers and the Acquisition Merger. Under such structure, each of AlphaTime and HCYC will merge with a subsidiary of PubCo, a newly formed company, through the Initial Mergers and the