Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 187

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 187
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.S. tax reasons. The exchange of ATMC Securities for PubCo Securities pursuant to the Business Combination is intended to qualify as a tax-free transaction for U.S. federal income tax purposes. See the section entitled “ The Business Combination Proposal - Background of the Business Combination - Material Tax Considerations - Material U.S. Federal Income Tax Considerations - Consequences of the Business Combination - Qualification of the Initial Mergers as a Reorganization.” The Initial Mergers that effect the exchange of ATMC Securities for PubCo Securities are structured as a two-step merger in the form of the First SPAC Merger and the Second SPAC Merger to reduce the risk that holders will be subject to U.S. federal income tax on the exchange of their ATMC Securities for PubCo Securities.

Representations and Warranties; Indemnification

The Merger Agreement contains representations and warranties of each of the parties thereto that are customary for transactions of this type, many of which are qualified by materiality and “Material Adverse Effect” (as defined in the Merger Agreement) standards. The representations and warranties of the respective parties to the Merger Agreement will survive for a period of 12 months following the closing of the Mergers (the “ Closing”); provided, that the Company Fundamental Representations (as defined in the Merger Agreement) shall survive indefinitely and the tax representations contained in Section 5.25 of the Merger Agreement will survive the Closing until 90 days after the expiration of the applicable statute of limitations. The Principal Shareholder (as defined in the Merger Agreement) shall indemnify and hold harmless the Indemnified Party (as defined in the Merger Agreement) from all Losses (as defined in the Merger Agreement) incurred by the Indemnified Party in connection with any breach, inaccuracy or nonfulfillment of any of the representations, warranties and covenants of HCYC contained in the Merger Agreement. At the Closing, 750,000 PubCo Ordinary Shares issued to the Principal Shareholder will be deposited and held in escrow for the benefit of the AlphaTime shareholders.

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Covenants

The Merger Agreement contains certain covenants, including, among other things, providing for (i) the parties to conduct their respective business in the ordinary course through the Closing; (ii) the parties to not initiate any negotiations or enter into any agreements for certain transactions; (iii) AlphaTime, PubCo and HCYC to