Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 598

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 598
---
 to change the March 31, 2022 due date to May 31, 2022 and amended and restated again
on October 20, 2022 to change the May 31, 2022 due date to December 31, 2022. The Promissory Note was non-interest bearing and payable
on the earlier of (i) December 31, 2022, or (ii) the consummation of the IPO.

On September 27, 2023, the Company notified Equiniti
Trust Company, the trustee of the Company’s trust account (the “Trust Account”), that it was extending the time available
to the Company to consummate its initial business combination from October 4, 2023, to January 4, 2024 (the “Extension”).
The Extension is the first of up to three (3) three-month extensions permitted under the Company’s governing documents.

73

On September 27, 2023, the Company extended the time
to complete its initial business combination from October 4, 2023 to January 4, 2024 by depositing an aggregate of $690,000 into the Trust
Account. In connection with this extension, on September 26, 2023, the Company also entered into a non-interest bearing promissory note
with the Sponsor for $690,000, that is payable on the earlier of January 4, 2024 or promptly after the completion of an initial business
combination. On January 4, 2024, the Company deposited $165,000 into the Trust Account to extend the deadline to complete the business
combination from January 4, 2024 to April 4, 2024. On February 20, 2024, the Company further raised $20,000 from the sponsor against a
promissory note. In connection with this extension, on December 28, 2023, the Company entered into a non-interest bearing promissory note
with the Sponsor for $660,000, that is payable on the earlier of January 4, 2025 or promptly after the completion of an initial business
combination. As on December 31, 2024 and 2023, there were outstanding as loan amounts of $1,262,500 and $690,000, respectively, against
a promissory note issued to the Sponsor for extension of the period of business combination from October 4, 2023 to