Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 49

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 49
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ertain of the Company’s initial shareholders, officers and directors or their affiliates have committed to loan the Company funds
from time to time or at any time, in whatever amount they deem reasonable in their sole discretion, there is no guarantee that the Company
will receive such funds.

The
Company will use funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence
on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their
representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate
and complete a business combination. In addition, we could use a portion of the funds not being placed in trust to pay commitment fees
for financing, fees to consultants to assist us with our search for a target business or as a down payment or to fund a “no-shop”
provision (a provision designed to keep target businesses from “shopping” around for transactions with other companies or
investors on terms more favorable to such target businesses) with respect to a particular proposed business combination, although we
do not have any current intention to do so. If we entered into an agreement where we paid for the right to receive exclusivity from a
target business, the amount that would be used as a down payment or to fund a “no-shop” provision would be determined based
on the terms of the specific business combination and the amount of our available funds at the time. Our forfeiture of such funds (whether
as a result of our breach or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due
diligence with respect to, 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