Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 79

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 4
Chunk 79
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Item
1. Legal Proceedings

To
the knowledge of our management, there is no material litigation, arbitration, bankruptcy, receivership, governmental proceeding or other
proceeding currently pending against us or any members of our management team in their capacity as such.

Item
1A. Risk Factors

As
of the date of this Report, there have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K filed
with the SEC on April 15, 2025.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds

Use
of Proceeds

On
January 4, 2023, the Company consummated the initial public offering of 6,000,000 Units (the “Units” and, with respect to
the Ordinary shares included in the Units sold, the “Public Shares”), including 900,000 Units that were issued pursuant to
the underwriters’ exercise of their over-allotment option in full on January 9, 2023, at $10.00 per Unit, generating gross proceeds
of $69,000,000.

Simultaneously
with the closing of the initial public offering, we consummated the sale of 370,500 Private Placement Units at a price of $10.00 per
warrant, generating gross proceeds of $3,705,000. On January 9, 2023, simultaneously with the sale of the over-allotment Units, the Company
consummated the private sale of an additional 38,700 Private Placement Units, generating additional gross proceeds of $387,000.

Transaction
costs related to the issuances described above amounted to $4,892,699 consisting of $1,612,500 of underwriting fees, $2,415,000 of deferred
underwriting fees and $865,199 of other offering costs. After deducting the underwriting discounts and commissions and offering expenses,
the total net proceeds from the initial public offering and the sale of the Private Placement Units $70,242,000 (or $10.18 per share
sold in the initial public offering) was placed in the Trust Account.

Redemptions

On
October 1, 2025, the Company held the Extraordinary General Meeting to vote on the Extension Amendment Proposal and the Trust Agreement
Amendment Proposal. In connection with the vote to approve the Extension Amendment Proposal and the Trust Agreement Amendment Proposal,
the holders of 917,814