Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 284

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 284
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 January 8, 2022, the board of directors of the Company and our Sponsor, as sole shareholder of the Company, approved, through a special resolution, the following share capital changes:

| (a) | Each                                                                                                                                   
 of the authorized but unissued 200,000,000 class A ordinary shares were cancelled and re-designated as ATMC Ordinary Shares of $0.0001 
 par value each;                                                                                                                        |
| (b) | Each                                                                                                                                   
 of the 1,437,500 Founder Shares in issue were repurchased in consideration for the issuance of 1,437,500 ATMC Ordinary Shares of       
 $0.0001 par value each; and                                                                                                            |
| (c) | Upon                                                                                                                                   
 completion of the above steps, the authorized but unissued 20,000,000 Founder Shares were cancelled.                                   |

On January 8, 2022, the Company issued an additional 287,500 ATMC Ordinary Shares to our Sponsor for no additional consideration, resulting in our Sponsor holding an aggregate of 1,725,000 ATMC Ordinary Shares (the founder shares). The issuance was considered as a bonus share issuance, in substance a recapitalization transaction, which was recorded and presented retroactively. The founder shares include an aggregate of up to 225,000 ATMC Ordinary Shares subject to forfeiture to the extent that the underwriters’ over-allotment is not exercised in full or in part.

Prior to the initial investment in the Company of $25,000 by our Sponsor, the Company had no assets, tangible or intangible. The number of founder shares issued was determined based on the expectation that such founder shares would represent 20% of the outstanding shares upon completion of the IPO (excluding the private shares and shares underlying the UPO). The per share purchase price of the founder shares was determined by dividing the amount of cash contributed to the Company by the aggregate number of founder shares issued.

Our Founder Shareholders and advisors, or any of their respective affiliates, will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our Founder Shareholders, advisors or our or their affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.