Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 71

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 71
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 Bridgetown Class B Ordinary Shares currently held by him (representing 1.38% of the equity interest and 3.66% of the voting power in PubCo if no Bridgetown Class A Ordinary Shares are redeemed in connection with the Business Combination) are subject to potential transfer to Sponsor at Sponsor’s sole discretion for no consideration, and Sponsor reserves the right to reallocate all or a portion of such PubCo Class B Ordinary Shares among its affiliates and its and its affiliates’ employees, based upon their contributions to Sponsor and/or its affiliates and the stock price performance of PubCo Class A Ordinary Shares following the Closing Date. In the event Mr. Teichman transfers the 594,946 PubCo Class B Ordinary Shares held by him following the Closing Date to Sponsor, Sponsor is expected to hold 31.86% of the equity interest and 81.89% of the voting power in PubCo following the transfer, assuming that no Bridgetown Class A Ordinary Shares are redeemed in connection with the Business Combination and that there is no change in the total number of issued and outstanding PubCo Shares between the Closing Date and the date of such transfer.

As a result of Sponsor’s majority ownership and voting power, which would give it the ability to control the outcome of certain matters submitted to our shareholders for approval, including the appointment or removal of directors (subject to certain limitations described elsewhere in this proxy statement/prospectus), PubCo is expected to qualify as a “controlled company” within the meaning of Nasdaq’s corporate governance standards. Therefore, PubCo will have the option not to comply with certain requirements to which companies that are not controlled companies are subject, including the requirement that a majority of its board of directors shall consist of independent directors and the requirement that its nominating and corporate governance committee and compensation committee shall be composed entirely of independent directors. PubCo currently does not intend to take advantage of these exemptions, subject to application of its home country corporate governance practices as outlined below. However, we cannot guarantee that this may not change going forward. For more details on related risks, see “ Risk Factors-Risks Related to PubCo and Its Securities-Upon PubCo’s listing on Nasdaq, we expect it to be a “controlled company” within the meaning of the Nasdaq rules and, as a result, would qualify for, and could elect to rely on, exemptions from certain corporate governance requirements.”

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Cash and Asset Flows through HCYC

The structure of cash flows within our organization, and the