Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 260

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 260
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 the number of then outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, dissolve and liquidate, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and all of AlphaTime’s directors and officers waived their rights to participate in any liquidating distribution with respect to the 2,134,200 Founder Shares held by them. There will be no distribution from the Trust Account with respect to AlphaTime’s warrants and rights, which will expire worthless in the event AlphaTime dissolves and liquidates the Trust Account.

Offering Proceeds Held in Trust

On January 4, 2023, AlphaTime consummated its IPO of 6,000,000 units. Each unit consists of one Public Share, par value $0.0001 per share, one Public Warrant, and one Public Right, with each Public Right entitling the holder thereof to receive one-tenth of one Public Share upon the completion of an initial Business Combination, subject to adjustment. The units were sold at an offering price of $10.00 per unit, generating gross proceeds of $60,000,000. On January 6, 2023, Chardan exercised its over-allotment option, which subsequently closed on January 9, 2023, to purchase an additional 900,000 units at a public offering price of $10.00 per unit, generating additional gross proceeds to the Company of $9,000,000.

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Following the closing of our IPO, an amount of US$70,242,000 from the net proceeds of the sale of the Units our IPO and the sale of the Private Placement Units was placed in the Trust Account which is invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended, or the Investment Company Act, with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by use, until the earlier of: (i) the consummation of a business combination