Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1720

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1720
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 or which may affect national security could be subject to such foreign
ownership restrictions and/or CFIUS review.

24

The
scope of CFIUS was expanded by the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) to include certain
non-passive, non-controlling investments in sensitive U.S. businesses and certain acquisitions of real estate even with no underlying
U.S. business. FIRRMA and subsequent implementing regulations that are now in force also subject certain categories of investments to
mandatory filings. If our potential initial business combination with a U.S. business falls within the scope of foreign ownership restrictions,
we may be unable to consummate a Business Combination with such business.

In
addition, if our potential business combination falls within CFIUS’s jurisdiction, we may be required to make a mandatory filing,
determine to submit a voluntary notice to CFIUS, or proceed with the initial business combination without notifying CFIUS and then bear
the risk of CFIUS intervention, before or after closing the initial business combination. CFIUS may decide to block or delay our initial
business combination, impose conditions to mitigate national security concerns with respect to such initial business combination or order
us to divest all or a portion of a U.S. business of the combined company if we had proceeded without first obtaining CFIUS clearance.
The foreign ownership limitations, and the potential impact of CFIUS, may limit the attractiveness of a transaction with us or prevent
us from pursuing certain initial business combination opportunities that we believe would otherwise be beneficial to us and our shareholders.
As a result, the pool of potential targets with which we could complete an initial business combination may be limited and we may be
adversely affected in terms of competing with other special purpose acquisition companies which do not have similar foreign ownership
issues.

Moreover,
the process of government review, whether by CFIUS or otherwise, could be lengthy. Because we only have 24 months (or 33 months if we
extend the period of time to consummate a Business Combination) to complete our initial business combination, our failure to obtain any
required approvals within the requisite time period may prevent us from completing the transaction and require us to liquidate. If we
liquidate, our public shareholders may only receive $10.18 per share initially, and our Rights and Warrants will expire worthless. Our
public shareholders may also lose the potential investment opportunity in a target company and the opportunity of realizing future gains
on such investments