Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 171

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 171
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 these Founder Shares at a purchase price of $2.00 per share and an aggregate purchase price of $265,650.

Simultaneously
with the closing of the IPO, pursuant to the Private Placement Unit Purchase Agreement, the Company completed the private sale of 370,500
Units to the Sponsor at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $3,705,000.
The Private Placement Units are identical to the Units sold in the IPO. No underwriting discounts or commissions were paid with respect
to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2)
of the Securities Act of 1933, as amended. No underwriting discounts or commissions were paid with respect to such sale. The issuance
of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act
of 1933, as amended. On January 9, 2023, simultaneously with the sale of the over-allotment Units, the Company consummated the private
sale of an additional 38,700 Private Placement Units, generating additional gross proceeds of $387,000.

Use
of Proceeds

On
January 4, 2023, the Company consummated the initial public offering of 6,000,000 Units, including 900,000 Units that were issued pursuant
to the underwriters’ exercise of their over-allotment option in full on January 9, 2023, at $10.00 per Unit, generating gross proceeds
of $73,092,000.

Simultaneously
with the closing of the initial public offering, we consummated the sale of 370,500 Private Placement Units at a price of $10.00 per
warrant, generating gross proceeds of $3,705,000. On January 9, 2023, simultaneously with the sale of the over-allotment Units, the Company
consummated the private sale of an additional 38,700 Private Placement Units, generating additional gross proceeds of $387,000.

70

The
underwriter was paid a cash underwriting discount of $0.20 per Unit, or $1,725,000 in the aggregate upon the closing of the Initial Public
Offering.

On
September 30, 2021, we issued an unsecured promissory note to our Sponsor