Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 324

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 324
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 will control a majority of the voting power of Pubco’s outstanding ordinary shares. As a result, Pubco will be a “controlled company” within the meaning of applicable Nasdaq listing rules. Under these corporate governance standards, a company of which more than 50% of the voting power is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain corporate governance standards, including the requirements (1) that a majority of its board of directors consist of independent directors, (2) that its board of directors have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities and (3) that its board of directors have a nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities. Pubco expects to utilize these “controlled company” exemptions for at least some period following the Business Combination, as it does not expect its board of directors, compensation committee and nominating and corporate governance committee following the Business Combination to meet the afore-mentioned independence requirements. Pending such determination, you may not have the same protections afforded to shareholders of companies that are subject to all of these corporate governance requirements. If Pubco ceases to be a “controlled company” and its shares continue to be listed on Nasdaq, Pubco will be required to comply with these standards and, depending on the board’s independence determination with respect to its then-current directors, Pubco may be required to add additional directors to its board in order to achieve such compliance within the applicable transition periods.

Director Independence

As a result of Ms. Xiameng Ding holding a majority of the voting power of Pubco’s outstanding ordinary shares through HCYC Wealth Management Company Limited, Pubco will be a “controlled company” within the meaning of Nasdaq’s listing rules. Therefore, Pubco will not be required to comply with certain corporate governance rules that would otherwise apply to us as a listed company on Nasdaq, including the requirement that compensation committee and nominating and corporate governance committee be composed entirely of “independent” directors (as defined by Nasdaq’s listing rules). As a “controlled company,” the board of directors of Pubco will not be required to include a majority of “independent” directors.

Nonetheless, we anticipate that Pubco will have three “independent directors” as defined in the Nasdaq listing standards and applicable SEC rules. In addition, we anticipate that Each of Raymond (Yong) Xia