Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 346

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 346
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(each an “Extension”) up to October 4, 2025 (i.e., for a period of time ending up to 33 months after the consummation of its
Initial Public Offering for a total of nine (9) months after the Termination Date (assuming a business combination has not occurred).
The Company also entered into an amendment (the “Second Trust Agreement Amendment”) to the Trust Agreement. Pursuant to the
Second Trust Agreement Amendment, the Company has extended the date by which it has to complete a business combination from the Termination
Date up to nine (9) times, each comprised of one month each from the Termination Date, or extended date, as applicable, to October 4,
2025 by providing five days’ advance notice to the trustee prior to the applicable Termination Date, or extended date, and depositing
into the Trust Account an Extension Payment of $55,000 until October 4, 2025 (assuming a business combination has not occurred) in exchange
for a non-interest bearing, unsecured promissory note payable upon the consummation of a business combination.

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In connection with the shareholders’ vote at
the Second Meeting, holders of 3,403,976 Ordinary Shares of the Company exercised their right to redeem such shares (the “Second
Redemption”) for a pro rata portion of the funds held in the Trust Account. As a result, approximately $38,852,320.60 (approximately
$11.41 per share) was removed from the Trust Account to pay such holders and approximately $15,240,284 remained in the Trust Account.
Following the aforementioned Second Redemption, AlphaTime had 3,469,450 Ordinary Shares outstanding.

On January 5, 2024, the Company entered into an Agreement
and Plan of Merger (the “Merger Agreement”) by and among the Company, HCYC Holding Company (“PubCo”), ATMC Merger
Sub 1 Limited (“Merger Sub 1”), ATMC Merger Sub 2 Limited (“Merger Sub 2”), and HCYC Merger Sub Limited (“Merger
Sub 3”, and together with PubCo, Merger Sub 1 and Merger Sub 2, the “Acquisition Entities”), and HCYC Group Company
Limited, Cayman Islands exempted company (“HCYC”). Pursuant to the Merger Agreement, the parties thereto will enter into a
business combination transaction by which (i)