Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1812

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1812
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 (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 founders 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 founders, 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.

On September 30, 2021, our sponsor agreed to loan
us up to $300,000 to be used for a portion of the expenses of the IPO. This loan is non-interest bearing, unsecure and is due at the earlier
of (1) December 31, 2022, and (2) the consummation of the IPO. On December 31, 2022, there were no amounts outstanding, and the Promissory
Notes had then expired.

In addition, in order to finance transaction costs
in connection with an intended initial business combination, our founders or an affiliate of our founders may, but are not obligated to,
loan us funds as may be required. If we complete our initial business combination, we will repay such loaned amounts. In the event that
our initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such
loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to $300,000 of such loans may be convertible
into working capital units, at a price of $10.00 per unit at the option of the lender. Such working capital units would be identical to
the private units sold in the private placement. The terms of such loans by our founders or their affiliates, if any, have not been determined
and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our founders or an
affiliate of our founders as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all
rights to seek access to funds in our trust account, but in the