Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1645

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1645
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 that any fiduciary duties or contractual
obligations of our officers arising in the future would materially undermine our ability to complete our Business Combination.

Promissory
Notes - Related Party

On
September 21, 2021, the Company issued an unsecured promissory note to the Sponsor (the “Promissory Note”), pursuant to which
the Company could borrow up to an aggregate of $300,000 to cover expenses related to the Initial Public Offering. The Promissory Note expired on December 31, 2021. As of December 31, 2024 and 2023, $0 was outstanding.

On
September 26, 2023, the Company also entered into a non-interest bearing promissory note with the Sponsor for $690,000, which was used
to fund the first extension of the time to complete the business combination. On April 12, 2024, the Company amended and restated the promissory note to extend the maturity date to the earlier
of January 4, 2025 or promptly after the date of the consummation of the business combination. As of December 31, 2024, $712,500 was outstanding.

On
December 28, 2023, the Company also entered into a non-interest bearing promissory note with the Sponsor for $660,000.00 which was used
to fund the second extension of the time to complete the business combination. As of December 31, 2024, $550,000 was outstanding.

86

Registration
Rights

The
holders of Founders Shares and Private Placement Units will be entitled to registration rights pursuant to a registration rights agreement
signed on December 30, 2022. The holders of these securities are entitled to make up to three demands, excluding short form demands,
that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect
to registration statements filed subsequent to our completion the Company’s initial business combination. The Company will bear
the expenses incurred in connection with the filing of any such registration statements.

No
compensation of any kind, including finder’s and consulting fees, will be paid by the company to our Sponsor, executive officers
and directors, or any of their respective affiliates, for services rendered prior to or in connection with the completion of an initial
business combination. However, these individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities
on