Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1735

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1735
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 with any affiliated entities, we would pursue such a transaction if we determined that such
affiliated entity met our criteria for a Business Combination as set forth in our Registration Statement and such transaction was approved
by a majority of our disinterested directors. Despite our agreement to obtain an opinion from an independent investment banking firm
that is a member of FINRA, or from an independent accounting firm, regarding the fairness to our company from a financial point of view
of a Business Combination with one or more domestic or international businesses affiliated with our founders or their respective affiliates,
potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to
our public shareholders as they would be absent any conflicts of interest.

Since
our Sponsor and Initial Shareholders will lose their entire investment in us if our Business Combination is not completed, a conflict
of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination.

On
September 28, 2021, our Sponsor acquired 1,437,500 Founder Shares for an aggregate purchase price of $25,000. On January 8, 2022, our
Sponsor acquired an additional 287,500 Founder Shares for no additional consideration, resulting in our Sponsor holding an aggregate
of 1,725,000 Founder Shares. Concurrent with the closing of our Initial Public Offering, our Sponsor sold to Chardan or its designees
132,825 of these Founder Shares for a purchase price of $2.00 per share and an aggregate purchase price of $265,650. Prior to the initial
investment in the Company of $25,000 by our Sponsor, the Company had no assets, tangible or intangible. The number of Founder Shares
issued was determined based on the expectation that such Founder Shares would represent 20% of the outstanding shares after our Initial
Public Offering (excluding the private shares and shares underlying the UPO). The Founder Shares will be worthless if we do not complete
an initial business combination. In addition, our Sponsor purchased an aggregate of 409,200 Private Placement Units, at $10.00 per unit,
for a purchase price of approximately $4,092,000. The Founder Shares and Private Placement Units will be worthless if we do not complete
an initial business combination. Our Initial Shareholders have agreed (A) to vote any shares owned by them in favor of any proposed business
combination and (B) not to redeem any Founder Shares or private shares in