Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1546

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1546
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. None of our officers, directors or shareholders
is required to provide any financing to us in connection with or after our initial business combination. If we are unable to complete
our initial business combination, our public shareholders may only receive approximately $10.18 per share on the liquidation of our Trust Account, and our Warrants and Rights will expire worthless. In certain circumstances, our public shareholders may receive less than $10.18
per share on the redemption of their shares. See “— If third parties bring claims against us, the proceeds held in the Trust Account could be reduced and the per-share redemption amount received by shareholders may be less than $10.18 per share”
and other risk factors in this section.

34

Our
founders and other insiders may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you
do not support.

Our
Sponsor and Initial Shareholders own Founder Shares representing 61.5% of our issued and outstanding Ordinary Shares (excluding the private
shares and shares underlying the UPO). In connection with the closing of our Initial Public Offering, we issued 409,200 Private Placement
Units. In addition, if our founders or their designated parties make any working capital loans, up to $300,000 of such loans may be converted
into working capital units, at the price of $10.00 per unit at the option of the lenders. Such working capital units would be identical
to the Private Placement Units sold in the private placement. Accordingly, our founders along with any designated parties may exert a
substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments
to our Third Amended and Restated Memorandum and Articles of Association and approval of major corporate transactions. If our founders
purchase any Units in our Initial Public Offering or if they purchase any additional Ordinary Shares in the aftermarket or in privately
negotiated transactions, this would increase their control. Factors that would be considered in making such additional purchases would
include consideration of the current trading price of our Ordinary Shares. In addition, our Board, whose members were elected by certain
of our Initial Shareholders, is and will be divided into three classes, each of which will generally serve for a term of three years
with only one class of directors being elected in each year. There is no requirement under the Companies Act for us to hold annual or
general meetings to elect directors. We may not hold an annual meeting of shareholders to elect new