Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 793

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 793
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.00 per Private Unit, for an
aggregate purchase price of $3,705,000, in a private placement (the “Private Placement”). Each whole Private Placement Unit
will consist of one ordinary share (“Private Share”), one warrant (“Private Warrant”) and one right (“Private
Right”) entitling the holder thereof to receive one-tenth of one Private Share upon the completion of an Initial Business Combination.
Each Private Warrant entitles the holder to purchase one ordinary share at a price of $11.50 per share, subject to adjustment. The proceeds
from the Private Units were added to the proceeds from the IPO held in the Trust Account. Effective January 9, 2023, the underwriters
fully exercised the over-allotment option and the Company completed the private sale of an aggregate of 38,700 Private Units at a price
of $10.00 per Private Unit, generating gross proceeds of $387,000. If the Company does not complete a Business Combination within the
Combination Period, the proceeds from the sale of the Private Units held in the Trust Account will be used to fund the redemption of
the Public Units (subject to the requirements of applicable law) and the Private Units will expire worthless.

Note
5 - Related Party Transactions

On
September 28, 2021, the Sponsor received 1,437,500 of the Company’s Class B ordinary shares in exchange for $25,000 paid for deferred
offering costs borne by the Sponsor.

On
January 8, 2022, the board of directors of the Company and the Sponsor, as sole shareholder of the Company, approved, through a special
resolution, the following share capital changes (see Note 7):

(a)
Each of the authorized but unissued 200,000,000 Class A ordinary shares were cancelled and re-designated as the ordinary shares of $0.0001
par value each;

(b)
Each of the 1,437,500 Class B ordinary shares in issue were repurchased in consideration for the issuance of 1,437,500 ordinary shares
of $0.0001 par value each; and

(c)
Upon completion of the above steps, the authorized but unissued 20,000,000 Class B ordinary shares were cancelled.

On
January 8, 2022, the Company issued an additional 287,500 ordinary shares to the Sponsor for no additional consideration, resulting in
the Sponsor holding an aggregate of 1,725,000