Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 6

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 6
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660,000,
that is payable promptly after the completion of an initial business combination. Further, the Company
has deposited a total of $439,979 into the Trust Account to extend the deadline to complete the business combination from April 4, 2024
to December 4, 2024. On December 4, 2024, January 4, 2025, February 4, 2025, March 4, 2025, the Company entered into extension letters
to extend the timeline of the business combination on a monthly basis through April 4, 2025. As of March 31, 2025, the extension payments for December, January, February,
and March had not yet been deposited into the Trust Account and, accordingly, did not accrue interest income during the period. These
extension payments were also not included in the common stock subject to possible redemption as of March 31, 2025.

    F-7

However, if the Company has not completed a Business
Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly
as reasonably possible but not more than ten business days thereafter, redeem 100% of the Public Shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned and not previously released to
us to pay our taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding
Public Shares, which redemption will completely extinguish the rights of the Public Shareholders as shareholders (including the right
to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject
to the approval of the Company’s remaining Public Shareholders and its Board of Directors, liquidate and dissolve, subject in each
case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable
law. The Sponsor has agreed to waive its rights to liquidating distributions from the Trust Account with respect to the Founder Shares
it will receive if the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor or any
of its respective affiliates acquire Public Shares, such Public Shares will be entitled to liquidating distributions from the Trust Account
if the Company fails to complete a Business Combination within the Combination Period.