Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 41

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 41
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3, to January
4, 2024 (the “Extension”). The Extension is the first of up to three (3) three-month extensions permitted under the Company’s
governing documents.

5

On
September 27, 2023, the Company extended the time to complete its initial business combination from October 4, 2023 to January 4, 2024
by depositing an aggregate of $690,000 into the Trust Account. In connection with this extension, on September 26, 2023, the Company
also entered into a non-interest bearing promissory note with the Sponsor for $690,000, that is payable on the earlier of January 4,
2024 or promptly after the completion of an initial business combination. On January 4, 2024, the Company deposited $165,000 into the
Trust Account to extend the deadline to complete the business combination from January 4, 2024 to April 4, 2024. On February 20, 2024,
the Company further raised $20,000 from the sponsor against a promissory note. In connection with this extension, on December 28, 2023,
the Company entered into a non-interest bearing promissory note with the Sponsor for $660,000, that is payable on the earlier of January
4, 2025 or promptly after the completion of an initial business combination. On April 14, 2025, the Company amended and restated the
promissory note to extend the maturity date to promptly after the date of the consummation of the business combination. As on September
30, 2025 and December 31, 2024, there were outstanding as loan amounts of $1,262,500 and $1,262,500, respectively, against a promissory
note issued to the Sponsor for extension of the period of business combination from October 4, 2023 to November 4, 2024 The total deposits made to date were $10,061 less than the amount required to fully fund the extensions through February 4, 2025. Thereafter,
the Company entered into extension letters to extend the timeline of the business combination on a monthly basis through October 4, 2025.
As of September 30, 2025, the extension payments relating to January through June 2025, together with the $10,061 shortfall from prior
extensions, in aggregate totaling $450,061