Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 32

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 32
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 of transactions pursuant to which AlphaTime will merge with and into Merger Sub 1, with AlphaTime surviving such merger, after which AlphaTime will merge with and into Merger Sub 2, with Merger Sub 2 surviving such merger as a wholly owned subsidiary of PubCo, and HCYC will merger with and into Merger Sub 3, with HCYC surviving such merger as a wholly owned subsidiary of PubCo. Upon consummation of the Business Combination, PubCo will change its name to “HCYC Corp.” We refer to the foregoing transactions, together with the other transactions contemplated by the Merger Agreement, in their entirety, as the “Business Combination.”

The merger consideration to be paid for each HCYC Ordinary Share held as of immediately prior to the Effective Time (the “ Per Share Merger Consideration”) will be a number of PubCo Ordinary Shares equal to (i) $75.0 million divided by the total number of HCYC Ordinary Shares outstanding immediately prior to the Effective Time (after giving effect to the Preferred Shares Conversion), divided by (ii) $10.00. Notwithstanding the foregoing, no fractional PubCo Ordinary Shares will be issued. Instead of the issuance of any fractional share, each person or entity that would otherwise be entitled to a fraction of a PubCo Ordinary Share (after aggregating all fractional shares of PubCo Ordinary Shares that otherwise would be received by such person or entity) shall have the number of PubCo Ordinary Shares issued to such person or entity rounded up in the aggregate to the nearest whole number of PubCo Ordinary Shares.

In addition, at the Closing, 1,500,000 additional
PubCo Ordinary Shares (the “Earnout Shares”) will be issued by PubCo to the Company Shareholders (as defined
in the Merger Agreement) and placed in an escrow account. The Earnout Shares will be distributed in a manner such that one controlling
shareholder cannot unilaterally direct all such Earnout Shares to themselves. The Company Shareholders shall have the right to receive
their Pro Rata Portion of the Earnout Shares after the Closing Date as follows:

(i) the Pro Rata Portion of 750,000 Earnout Shares
(collectively, the “2024 Earnout Shares”) will be issued and delivered by PubCo to each Pre-Closing Company
Shareholder within five (5) Business Days following the date of filing of an annual report on Form 20-F or 10-K whichever is applicable