Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 7

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 7
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 prospective target businesses.

In order to fund working capital deficiencies or finance
transaction costs in connection with an intended initial business combination, our founders or an affiliate of our founders may, but are
not obligated to, loan us funds as may be required. If we complete our initial business combination, we will repay such loaned amounts.
In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust
account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,262,500 of such
loans may be convertible into working capital units, at a price of $10.00 per unit at the option of the lender. The working capital units
would be identical to the private units, each consisting of one ordinary share, one private warrant and one right with the same exercise
price, exercisability and exercise period, subject to similar limited restrictions as compared to the units sold in our IPO. The terms
of such loans by our founders or their affiliates, if any, have not been determined and no written agreements exist with respect to such
loans. We do not expect to seek loans from parties other than our founders or an affiliate of our founders as we do not believe third
parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account,
but in the event that we seek loans from any third parties, we will obtain a waiver against any and all rights to seek access to funds
in our trust account.

Pursuant to the extension amendment approved by the
shareholders by special resolution at the meeting on December 28, 2023, the Company has adopted the Company’s Third Amended and
Restated Memorandum and Articles of Association, reflecting the extension of the date by which the Company must consummate a business
combination from January 4, 2024, (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 up 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 (the “Trust
Account”) $55,000 for each monthly extension (the “Extension Payment”) up to January 4, 2025 (i