Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 266

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 266
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1, the Sponsor issued an unsecured promissory note to AlphaTime, pursuant to which AlphaTime could borrow up to             
 an aggregate principal amount of $300,000. The note was non-interest bearing and payable on the earlier of (i) December 31, 2021,            
 or (ii) the consummation of the IPO. The note expired without any amount ever being lent thereunder.                                         |
| ● | In                                                                                                                                           
 connection with the IPO, the Sponsor agreed that if the Trust Account is liquidated, including in the event AlphaTime is unable to           
 complete an initial business combination within the required time period, the Sponsor would to indemnify AlphaTime to ensure that            
 the proceeds in the Trust Account are not reduced below $10.18 per Public Share, or such lesser per share amount as is in the Trust          
 Account, by the claims of prospective target businesses with which AlphaTime has entered into an acquisition agreement or claims             
 of any third party for services rendered or products sold to AlphaTime, but only if such a vendor or target business has not executed        
 a waiver of any and all rights to seek access to the Trust Account.                                                                          |

Restrictions on sale by the Sponsor of AlphaTime and PubCo securities

In connection with management of AlphaTime, concurrently with the pricing of AlphaTime’s IPO, AlphaTime and its initial shareholders including the Sponsor, among others, entered into a the letter agreement, dated December 30, 2022, pursuant to which the Sponsor agreed that its Founder Shares were to be placed in escrow in connection with the closing of the IPO and may not be transferred until six months after the date of the consummation of an initial business combination by AlphaTime, such as the Business Combination, or earlier, if, subsequent to such an initial business combination, AlphaTime consummates a subsequent liquidation, merger, stock exchange or other similar transaction which results in all AlphaTime shareholders having the right to exchange their shares for cash, securities or other property. Pursuant to this letter agreement, the Sponsor agreed it may not seek redemption of its Founder Shares. Therefore, if AlphaTime does not consummate an initial business combination such as the Business Combination prior to the deadline for it to pursuant to the Existing Charter, as may be amended, the Sponsor’s Founder Shares will have no value. Finally, pursuant to this letter agreement, the Sponsor agreed (a) that if AlphaTime were to seek shareholder approval of a proposed initial business combination such as the Business Combination, then the