Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1278

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 13
Chunk 1278
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 the earlier of January 4, 2024 or promptly after the completion of an initial business combination. On April 12, 2024,
the Company amended and restated the promissory note to extend the maturity date to the earlier of January 4, 2025 or promptly after
the date of the consummation of the business combination. On April 14, 2025, the promissory note was further amended and restated to
extend the maturity date to promptly after the date the business combination is consummated. On January 4, 2024, the Company raised $2,500
from the sponsor against a promissory note for working capital purposes and further raised an additional $20,000 on February 20, 2024,
bringing the total drawdown beyond the original principal amount of $690,000. On January 4, 2024, the Company deposited $165,000
into the Trust Account to extend the deadline
to complete the business combination from January 4, 2024 to April 4, 2024. In connection with this extension, on December 28, 2023,
the Company entered into a non-interest bearing promissory note with the Sponsor for $660,000,
that is payable on the earlier of January 4, 2025 or promptly after the completion of an initial business combination. Pursuant to the
Trust Agreement Amendment, the Company has extended the date by which it has to complete a business combination from the Termination
Date up to ten (10) times, with the first extension comprised of three months, and the subsequent nine (9) extensions comprised of one
month each from the Termination Date, or extended date, as applicable, to January 4, 2025 by providing five days’ advance notice
to the trustee prior to the applicable Termination Date, or extended date, and depositing into the Trust Account $55,000
for each monthly extension (the “Extension
Payment”) until January 4, 2025 (assuming a business combination has not occurred). Further, the Company drew down seven times monthly extension fund with
aggregate amount of $385,000 under the promissory note and deposited into the Trust Account to extend the deadline to complete the business
combination from April 4, 2024 to November 4, 2024. As on December 31, 2024 and 2023, there were
outstanding as loan amounts of