Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1698

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1698
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 an initial business combination, our directors and officers could still be subject to potential
liability from claims arising from conduct alleged to have occurred prior to the initial business combination. As a result, in order
to protect our directors and officers, the post-business combination entity may need to purchase additional insurance with respect to
any such claims (“run-off insurance”). The need for run-off insurance would be an added expense for the post-business combination
entity, and could interfere with or frustrate our ability to consummate an initial business combination on terms favorable to our investors.

13

Our
Sponsor has the right to extend the term we have to consummate our initial business combination up to 33 months from the closing of our
Initial Public Offering without providing our shareholders with a corresponding redemption right.

We
have up to 33 months from the closing of our Initial Public Offering to consummate an initial business combination. However, if we anticipate
that we may not be able to consummate our initial business combination within 33 months, we may, by resolution of our Board, if requested
by our Sponsor, extend the period of time we will have to consummate an initial business combination up to nine (9) times, each by an
additional one (1) month (for a total of up to 33 months from the closing of our Initial Public Offering), provided that, pursuant to
the terms of our Third Amended and Restated Memorandum and Articles of Association, as amended, and the Trust Agreement in order for
the time available for us to consummate our initial business combination to be extended, our Sponsor or their affiliates or designees,
upon five days’ advance notice prior to the applicable deadline, must deposit into the Trust Account $55,000 per each month in
an extension for each extension, on or prior to the date of the applicable deadline. Our public shareholders will not be entitled to
vote or redeem their shares in connection with any such extension.

In
the event that our Sponsor elects to extend the time to complete a Business Combination, pay the additional amounts per each extension,
and deposit the applicable amount of money into trust, the Sponsor will receive a non-interest bearing, unsecured promissory note equal
to the amount of any such deposit and payment that will not be repaid in the event that we are unable to close a Business Combination
unless there are funds available outside the Trust Account to do so. In the event that we receive notice from our Sponsor five days prior
to the applicable deadline