Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 51

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 51
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 the Company has 6,873,426 ordinary shares outstanding.

At
an extraordinary general meeting of shareholders held on December 20, 2024 (the “Second Meeting”), the Company adopted
an amendment to the Third Amended and Restated Memorandum and Articles of Association (the “Second Amendment”)
reflecting the extension of the date by which the Company must consummate a business combination from the Extended Date up to nine
(9) times, each comprised of one month each (each an “Extension”) up to October 4, 2025 (i.e., for a period of time
ending up to 33 months after the consummation of its Initial Public Offering for a total of nine (9) months after the Extended
Date (assuming a business combination has not occurred). The Company also entered into an amendment (the “Second Trust
Agreement Amendment”) to the Trust Agreement. Pursuant to the Second Trust Agreement Amendment, the Company has extended the
date by which it has to complete a business combination from the Extended Date up to nine (9) times, each comprised of one month
each from the Extended Date, as applicable, to October 4, 2025 by providing five days’ advance notice to
the trustee prior to the applicable Extended Date, and depositing into the Trust Account an Extension Payment
of $55,000 until October 4, 2025 (assuming a business combination has not occurred) in exchange for a non-interest bearing,
unsecured promissory note payable upon the consummation of a business combination.

In
connection with the shareholders’ vote at the Second Meeting, holders of 3,403,976 Ordinary Shares of the Company exercised their
right to redeem such shares (the “Second Redemption”) for a pro rata portion of the funds held in the Trust Account. As a
result, approximately $38,852,320.60 (approximately $11.41 per share) was removed from the Trust Account to pay such holders and approximately
$15,240,284 remained in the Trust Account. Following the aforementioned Second Redemption, AlphaTime had 3,469,450 Ordinary Shares outstanding.

On
January 5, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company,
HCYC Holding Company (“PubCo”), ATMC Merger Sub 1 Limited (“Merger Sub 1”), ATMC Merger Sub 2 Limited (“Merger