# EDGAR Filing Document

**Accession Number:** 0001889106
**File Stem:** 0001493152-23-001473
**Filing Date:** 2023-1
**Character Count:** 16761
**Document Hash:** 8cbd7f1a7c43366365ef8ea8cd8d174a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-001473.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001493152-23-001473

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230109

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALPHATIME ACQUISITION CORP
- **CENTRAL INDEX KEY:** 0001889106
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41584
- **FILM NUMBER:** 23529693

**BUSINESS ADDRESS:**
- **STREET 1:** 500 5TH AVENUE, SUITE 938
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10110
- **BUSINESS PHONE:** (347) 627-0058

**MAIL ADDRESS:**
- **STREET 1:** 500 5TH AVENUE, SUITE 938
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10110

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **January 9, 2023**

**ALPHATIME ACQUISITION CORP**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-41584** | **N/A** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

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**500 5<sup>th</sup> Avenue, Suite 938**

**New York, NY 10110**

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code **(347) 627-0058**

**Not Applicable**<br> (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Units, each consisting of one ordinary share, one redeemable warrant and one right** | ATMCU | The Nasdaq Stock Market LLC |
| **Ordinary Shares, par value $0.0001 per share** | ATMC | The Nasdaq Stock Market LLC |
| **Warrants, each whole warrant exercisable for one ordinary share at an exercise price of $11.50 per share** | ATMCW | The Nasdaq Stock Market LLC |
| **Rights, each right entitling the holder thereof to one-tenth of one ordinary share** | ATMCR | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 3.02. Unregistered Sales of Equity Securities.**

The information included in Item 8.01 is incorporated into this Item by reference.

**Item 8.01. Other Events**

As previously disclosed on a Current Report on Form 8-K dated January 10, 2023 ("**<u>Current Report</u>**"), on January 4, 2023, AlphaTime Acquisition Corp (the "**<u>Company</u>**") consummated its initial public offering ("**<u>IPO</u>**") of 6,000,000 units (the "**<u>Units</u>**"). Each Unit consists of one ordinary share of the Company, par value $0.0001 per share (the "**<u>Ordinary Shares</u>**"), one redeemable warrant (the "**<u>Warrants</u>**") and one right (the "**<u>Rights</u>**"), with each Right entitling the holder thereof to receive one-tenth of one Ordinary Share upon the completion of an initial business combination, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $60,000,000. The Company granted the underwriters a 45-day option to purchase up to 900,000 additional Units to cover over-allotments, if any.

As also previously disclosed in the Current Report, simultaneously with the closing of the IPO, the Company completed the sale of 370,500 private units to Alphamade Holding LP (the "**<u>Private Units</u>**") at a purchase price of $10.00 per Private Unit, generating gross proceeds to the Company of $3,705,000.

Subsequently, on January 6, 2023, the underwriters fully exercised the over-allotment option and the closing of the issuance and sale of the additional Units occurred on January 9, 2023. The total aggregate issuance by the Company of 900,000 Units at a price of $10.00 per Unit resulted in total gross proceeds of $9,000,000. 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 Units, generating additional gross proceeds of $387,000.

A total of $70,242,000 of the proceeds from the IPO and the sale of the Private Units (including the over-allotment of the Units and Private Units) were placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained by American Stock Transfer & Trust Company, acting as trustee. Included with this report as Exhibit 99.1 is a pro-forma balance sheet reflecting the exercise of the over-allotment option.

**Item 9.01. Financial Statements and Exhibits.**

<u>Exhibit No. </u> <u>Description </u> <br> 99.1 [Pro-Forma Balance Sheet dated January 9, 2023 (unaudited)](ex99-1.htm)

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **ALPHATIME ACQUISITION CORP** | **ALPHATIME ACQUISITION CORP** |
| By: | */s/ Dajiang Guo* |
| Name: | Dajiang Guo |
| Title: | Chief Executive Officer |

---

Dated: January 13, 2023

## Exhibit 99.1

**Exhibit 99.1**

**ALPHATIME ACQUISITION CORP**

**BALANCE SHEET**

**JANUARY 9, 2023**

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| | | | |
|:---|:---|:---|:---|
|  | **January 4,**<br>**2023** | **Pro Forma**<br>**Adjustments** |<br>**As Adjusted** |
|  | | **(unaudited)** | **(unaudited)** |
| **ASSETS** |  |  |  |
| Current assets: |  |  |  |
| Cash | $- | 40500 h) |  |
|  |  | 485054 i) | $525554 |
| Prepaid expenses | 7524 |  | 7524 |
| Cash held in Escrow Account | 779034 | (485054) i) |  |
|  |  | (293980) i) |  |
| Cash held in Trust Account - Current | 280350 | (280350) <br>k) |  |
| Other assets |  | 9000000 a) |  |
|  |  | 34650 c) |  |
|  |  | (112500) d) |  |
|  |  | (8922150) f) | - |
| **Total current assets** | **1066908** | **533830** | **533078** |
| Cash held in Trust Account – Non- Current | 61080000 | 8922150 f) |  |
|  |  | (40500) h) |  |
|  |  | 280350 k) | 70242000 |
| **Total Assets** | $**62146908** | **8922150** | $**70775078** |
| **LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS DEFICIT** |  |  |  |
| Current Liabilities: |  |  |  |
| Accounts payable and accrued offering costs | $399301 | (293980) i) | $105321 |
| Due to related party | 381043 | (352350) c) | 28693 |
| **Total Current Liabilities** | **780344** | **(646330)** | **134014** |
| Deferred underwriting commission | 2100000 | **315000** <br>d) | 2415000 |
| **Total Liabilities** | **2880344** | (331330) | **2549014** |
| **Commitments and contingencies** |  |  |  |
| Ordinary shares subject to possible redemption, 6,000,000 and 6,900,000 shares at redemption value of $10.18 | 61080000 | 8775000 <br>b) |  |
|  |  | (416813) e) |  |
|  |  | 803813 g) | 70242000 |
| **Shareholders' Deficit:** |  |  |  |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding |  |  |  |
| Ordinary shares; $0.0001 par value; 200,000,000 shares authorized; 2,095,500 and 2,134,200 issued and outstanding, respectively (excluding 6,000,000 & 6,900,000 shares subject to possible redemption, respectively) | 210 | 4 <br>c) | 214 |
| Additional paid-in capital |  | 8999910 a) |  |
|  |  | (8774910) b) |  |
|  |  | 386996 c) |  |
|  |  | (427500) d) |  |
|  |  | 416813 e) |  |
|  |  | (803813) g) |  |
|  |  | 202504 j) |  |
| Accumulated deficit | (1813646) | (202504) <br>j) | (2016150) |
| **Total Shareholders' Deficit** | (1813436) | **(202500)** | **(2015936)** |
| **Total Liabilities and Shareholders' Deficit** | $62146908 | **8628170** | $**70775078** |

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The accompanying notes are an integral part of the financial statement

**ALPHATIME ACQUISITION CORP**

**NOTE 1 — CLOSING OF OVER-ALLOTMENT OPTION (UNAUDITED)**

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of AlphaTime Acquisition Corp (the "Company") as of January 4, 2023, adjusted for the closing of the underwriters' over-allotment option (the "Over-allotment") and related transactions, which occurred on January 9, 2023 as described below.

On January 4, 2023, the Company sold 6,000,000 Public Units at a purchase price of $10.00 per Public Unit generating gross proceeds of $60,000,000 related to the Initial Public Offering. Each Public Unit consists of one ordinary share (each, a "Public Share"), and one redeemable warrant (each, a "Public Warrant") and one right (each, a "Public Right") entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Each Public Warrant entitles the holder to purchase one ordinary share at a price of $11.50 per share, subject to adjustment.

The Sponsor has purchased an aggregate of 370,500 Private Placement Units at a price of $10.00 per Private Placement Unit, amounting to $3,705,000, from the Company in a private placement that occurred simultaneously with the closing of the Initial Public Offering. Each Private Placement Unit consists of one ordinary share, one warrant (each a "Private Warrant") and one right (each, a "Private Right") entitling the holder thereof to receive one-tenth of one ordinary share upon the completion of an initial business combination. Each Private Warrant entitles the holder to purchase one ordinary share at a price of $11.50 per share, subject to adjustment. The proceeds from the sale of the Private Placement Units are added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a business combination within the Combination Period, the proceeds from the sale of the Private Placement Units held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law).

As of January 4, 2023, there were 1,725,000 ordinary shares issued and outstanding, of which an aggregate of up to 225,000 ordinary shares are subject to forfeiture to the extent that the underwriters' over-allotment option is not exercised in full or in part so that the number of Founder Shares will equal 20% of the Company's issued and outstanding ordinary shares after the Initial Public Offering (excluding private placement shares). Concurrent with the closing of this offering, our Sponsor, at the option of the Company, sold to underwriter or its designees 115,500 Founder Shares for a purchase price of $2.00 per share and an aggregate purchase price of $231,000.

On January 4, 2023, the Company received an amount of $352,350 as part of the over-allotment of the Private Placement Units pending to be issued to the Sponsor. The Company accounted for these proceeds received as Due to related party, pending final allotment to the Sponsor.

The Company granted the underwriters a 45-day option from the Effective Date to purchase up to 900,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. On January 6, 2023, the underwriters notified the Company that it is exercising the over-allotment option with respect to the 900,000 additional Units, which was subsequently closed on January 9, 2023, generating gross proceeds to the Company of $9,000,000. Simultaneously, an amount of $352,350 due to related party was converted into over-allotment of Private Placement, and the underwriter deposited additional $34,650 on behalf of Sponsor for 17,325 Founder Shares for $2 per share which was sold by the Sponsor to underwriters. As a result, the Sponsor purchased additional 38,700 Private Placement Units, an aggregate of 409,200 units, at a price of $10.00 per Private Placement Unit (an aggregate of $4,092,000).

As of January 9, 2023, a total of $70,242,000 of the net proceeds from the IPO (including the Over-allotment Units) and the sale of Private Placement Units was placed in a U.S.-based trust account. As the over-allotment option was fully exercised, no portion of the Private Units are subject to forfeiture.

The proceeds from the Private Placement Units were added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Units and all underlying securities will expire worthless.

Unaudited Pro forma adjustments to reflect the exercise of the underwriters' over-allotment option described above and other related transactions are as follows:

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| | | | |
|:---|:---|:---|:---|
| **S.No.** | **Particulars** | **Debit** | **Credit** |
| a) | IPO Proceeds | 9000000 |  |
|  | Ordinary shares |  | 90 |
|  | Additional paid-in capital |  | 8999910 |
|  | To record the sale of 9,000,000 over-allotment Units at $10.00 per Unit on January 9, 2023. |  |  |
| b) | Ordinary shares | 90 |  |
|  | Additional paid-in capital | 8774910 |  |
|  | Ordinary Shares Subject to Redemption |  | 8775000 |
|  | To record the change in common stock subject to redemption from the sale of the over-allotment Units |  |  |
| c) | Due to Related Party | 352350 |  |
|  | IPO Proceeds | 34650 |  |
|  | Additional paid-in capital |  | 386996 |
|  | Ordinary shares |  | 4 |
|  | To record the sale of 38,700 over-allotment Private Placement Units at $10.00 per Unit on January 9, 2023 |  |  |
| d) | Additional paid-in capital | 427500 |  |
|  | IPO Proceeds |  | 112500 |
|  | Deferred underwriting commission |  | 315000 |
|  | To record the cash and deferred underwriting commission arising from the sale of the over-allotment Units |  |  |
| e) | Ordinary Shares Subject to Redemption | 416813 |  |
|  | Additional paid-in capital |  | 416813 |
|  | To reduce the amount of balance in Class A Common Stock Subject to Redemption by the cash and deferred underwriting commission only related to public shares |  |  |
| f) | Cash Held In Trust Account – Non- Current | 8922150 |  |
|  | IPO Proceeds |  | 8922150 |
|  | To record transfer of overallotment proceeds to Trust |  |  |
| g) | Additional paid-in capital | 803813 |  |
|  | Ordinary Shares Subject to Redemption |  | 803813 |
|  | To record remeasurement adjustment on redeemable common stock |  |  |
| h) | Cash | 40500 |  |
|  | Cash Held In Trust Account – Non-Current |  | 40500 |
|  | To record transfer of funds into the Company bank account for working capital purposes on January 9, 2023 |  |  |
| i) | Cash | 485054 |  |
|  | Accounts payable and accrued offering costs | 293980 |  |
|  | Cash held in Escrow Account |  | 779034 |
|  | To reclassify funds transferred on January 4, 2023 for working capital purposes from Escrow account to Company bank account |  |  |
| j) | Accumulated Deficit | 202504 |  |
|  | Additional paid-in capital |  | 202504 |
|  | To write-off the remaining balance in Additional paid-in capital to Retained earnings |  |  |
| k) | Cash Held In Trust Account – Non- Current | 280350 |  |
|  | Cash Held In Trust Account – Current |  | 280350 |
|  | To reclassify the Current portion of the Trust account into Non-Current |  |  |

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