Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1490

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1490
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issory note equal
to the amount of any such deposit and payment that will not be repaid in the event that we are unable to close a Business Combination
unless there are funds available outside the Trust Account to do so. In the event that we receive notice from our Sponsor five days prior
to the applicable deadline of their intent to effect an extension, we intend to issue a press release announcing such intention at least
three days prior to the applicable deadline. In addition, we intend to issue a press release the day after the applicable deadline announcing
whether or not the funds had been timely deposited. Our Sponsor and its affiliates or designees are not obligated to fund the Trust Account
to extend the time for us to complete our Business Combination. To the extent that some, but not all, of our Sponsor’s affiliates
or designees, decide to extend the period of time to consummate our Business Combination, such affiliates or designees may deposit the
entire amount required. If we are unable to consummate our Business Combination within such time period, we will, as promptly as possible
but not more than 10 business days thereafter, redeem 100% of our outstanding Public Shares for a pro rata portion of the funds held in
the Trust Account, including a pro rata portion of any interest earned on the funds held in the Trust Account and not previously released
to us to pay our taxes, and then seek to dissolve and liquidate. However, we may not be able to distribute such amounts as a result of
claims of creditors which may take priority over the claims of our public shareholders. In the event of our dissolution and liquidation,
the Private Placement Units will expire and be worthless.

Our
Business Combination must occur with one or more target businesses that together have an aggregate
fair market value of at least 80% of the assets held in the Trust Account (excluding deferred underwriting commissions payable to our
underwriters and taxes payable) at the time of the agreement to enter into the Business Combination. If our board is not able to independently
determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking
firm that is a member of the Financial Industry Regulatory Authority (“FINRA”), or an independent accounting firm with respect
to the satisfaction of such criteria. Our shareholders may not be provided with a copy of such opinion, nor will they be able to rely
on such opinion.

The
net proceeds of our Initial Public Offering and the sale of the