Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 53

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 53
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to January 4, 2025 (the “Extended Date”) (i.e., for a period of time ending up to 24 months after the consummation of its
initial public offering) in exchange for a non-interest bearing, unsecured promissory note payable upon the consummation of a business
combination.

In
connection with the shareholders’ vote at the meeting on December 28, 2023, 2,160,774 ordinary shares of the Company exercised
their right to redeem such shares (the “Redemption”) for a pro rata portion of the funds held in the Trust Account. As a
result, approximately $23,302,146 (approximately $10.78 per share) has been removed from the Trust Account to pay such holders and approximately
$51,712,221 remained in the Trust Account. Following the redemptions, the Company has 6,873,426 ordinary shares outstanding.

At
an extraordinary general meeting of shareholders held on December 20, 2024 (the “Second Meeting”), the Company adopted an
amendment to the Third Amended and Restated Memorandum and Articles of Association (the “Second Amendment”) reflecting the
extension of the date by which the Company must consummate a business combination from the Extended Date up to nine (9) times, each comprised
of one month each (each an “Extension”) up to October 4, 2025 (i.e., for a period of time ending up to 33 months after the
consummation of its Initial Public Offering for a total of nine (9) months after the Extended Date (assuming a business combination has
not occurred). The Company also entered into an amendment (the “Second Trust Agreement Amendment”) to the Trust Agreement.
Pursuant to the Second Trust Agreement Amendment, the Company has extended the date by which it has to complete a business combination
from the Extended Date up to nine (9) times, each comprised of one month each from the Extended Date, as applicable, to October 4, 2025
by providing five days’ advance notice to the trustee prior to the applicable Extended Date, and depositing into the Trust Account
an Extension Payment of $55,000 until October 4, 2025 (assuming a business combination has not occurred) in exchange for a non-interest
bearing, unsecured promissory note payable upon the consummation of a business combination.

In
connection with the shareholders’ vote at the Second