Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 51

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 51
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4, 2025, February 4, 2025, March 4, 2025, April 4, 2025, May
4, 2025,  June 4, 2025, July 4, 2025 and August 4, 2025, the Company entered into extension letters to extend the timeline of the business combination on a monthly
basis through September 4, 2025. Company expects that it will need additional capital to satisfy its liquidity needs beyond the net proceeds
from the consummation of the IPO and the proceeds held outside of the Trust Account for paying existing accounts payable, identifying
and evaluating prospective business combination candidates, performing due diligence on prospective target businesses, paying for travel
expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Initial Business
Combination. Although certain 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