Company: ATMCW
Filing Date: 2025-08-27
Form Type: PRE 14A
Source: 0001493152-25-012353
Chunk: 49

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-27
Form: PRE 14A
Chunk 49
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 were unanimously approved by the boards of directors of each of AlphaTime and HCYC Group.

Reasons for the Extension Amendment Proposal

The Existing Charter currently provides that AlphaTime has until the Termination Date to complete an initial Business Combination. AlphaTime and its officers and directors agreed that they would not seek to amend the Existing Charter to allow for a longer period of time to complete a Business Combination unless AlphaTime provided holders of its Public Shares with the right to seek redemption of their Public Shares in connection therewith. The Board has determined that it is in the best interests of AlphaTime to seek an extension of the Termination Date and have AlphaTime shareholders approve the Extension Amendment Proposal to allow for additional time to consummate a Business Combination. The Board believes that the current Termination Date will not provide sufficient time to complete a Business Combination. Given AlphaTime’s commitment of time, effort and financial resources to date with respect to identifying a Business Combination target, circumstances warrant providing Public Shareholders with additional time and opportunity to consider a prospective Business Combination. However, even if the Extension Amendment Proposal is approved and the Extension and Extension Amendment are implemented, there is no assurance that AlphaTime will be able to consummate a Business Combination by the last Extended Date, January 4, 2026, given the actions that must occur prior to closing of a Business Combination.

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Pursuant to the Existing Charter and the Trust Agreement, if the Board anticipates that the Company may not be able to consummate a business combination by January 4, 2025, the Company may, by resolution of directors, at the request of the sponsor, extend the period of time to consummate a business combination up to nine (9) times, with the each extension comprised of one (1) month each, to consummate the Business Combination, subject to the Sponsor or its affiliates or designees, upon five days’ advance notice prior to the applicable Business Combination deadline, depositing additional funds into the Trust Account for each such one-month extension, on or prior to the date of the applicable Business Combination deadline. If the Extension Amendment Proposal and Trust Agreement Amendment Proposal are approved, we may, by resolution of the Board, at the request of our Sponsor, avail ourselves of three (3) additional one-month extension periods to consummate the Business Combination, subject to the Sponsor or its affiliates or designees, upon five days’ advance notice prior to the applicable Business Combination deadline, depositing into the Trust Account for each such one-month extension, on or prior