Document:

Exhibit 10.5

 

AlphaTime
Acquisition Corp

 

89
Nexus Way, Camana Bay, Grand Cayman, KY1-9009

Cayman Islands

 

Alphamade Holding LP

500 Fifth Avenue Suite 938

New York

NY
10110

 

September
30, 2021

 

RE:
Securities Subscription Agreement

 

Ladies
and Gentlemen:

 

AlphaTime
Acquisition Corp, a Cayman Islands exempted company (the “Company,” “we” or “us”),
is pleased to accept the offer made by Alphamade Holding LP, a Delaware limited partnership (“Subscriber”
or “you”), to purchase 1,437,500 Class B ordinary shares of the Company, par value $0.0001 per share (the “Shares”),
up to 187,500 of which are subject to forfeiture by you to the extent that the underwriters of the initial public offering (“IPO”)
of units (“Units”) of the Company do not fully exercise their option to purchase additional Units to cover over-allotments,
if any (the “Over-allotment Option”). The terms of the sale by the Company of the Shares to Subscriber, and the Company
and Subscriber’s agreements regarding the Shares, are as follows:

 

1.
Purchase of Securities.

 

1.1.
Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving
in cash, the Company hereby issues the Shares to Subscriber, and Subscriber hereby purchases the Shares from the Company, on the terms
and subject to the conditions, including regarding forfeiture, set forth in this letter agreement (this “Agreement”).
Concurrently with Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to Subscriber a certificate
registered in Subscriber’s name representing the shares (the “Original Certificate”) or effect such delivery
in book-entry form.

 

2.
Representations, Warranties and Agreements.

 

2.1.
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Shares to Subscriber, Subscriber
hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.
Organization and Authority. Subscriber is a limited liability company, duly organized, validly existing and in good standing under
the laws of the State of Delaware, and possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement. This Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws
affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement
is sought in a proceeding at law or in equity).

 

    	 

     

    

 

2.1.2. No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of
Subscriber, (ii) any agreement, indenture or instrument to which Subscriber is a party or (iii) any law, statute, rule, regulation,
order, judgment or decree to which Subscriber is subject.

 

2.1.3.
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.1.4.
Experience, Financial Capability and Suitability. Subscriber is sophisticated in financial matters and is able to evaluate the
risks and benefits of the investment in the Shares. Subscriber acknowledges that the Shares have not been registered under the Securities
Act of 1933, as amended (the “Securities Act”), and therefore cannot be sold unless subsequently registered under
the Securities Act or an exemption from such registration is available. Subscriber understands that it must bear the economic risk of
this investment until the Shares are sold pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption
from registration available with respect to such sale. Subscriber is able to bear the economic risk of an investment in the Shares for
an indefinite period of time and to afford a complete loss of Subscriber’s investment in the Shares.

 

2.1.5.
No Government Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the offering of the Shares.

 

2.1.6.
Access to Information; Independent Investigation. Prior to the execution of this Agreement, Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the financial
condition, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all
information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge
and understanding of the Company and its business based upon Subscriber’s own due diligence investigation. Subscriber understands
that no person has been authorized to make any representations other than as set forth in this Agreement and Subscriber has not relied
on any other written or oral representations relating to the financial condition, business and prospects of the Company in making its
investment decision.

 

2.1.7.
Investment Representations. Subscriber represents that it is an “accredited investor” as such term is defined in Rule
501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being made in reliance on the private
placement exemption in Section 4(a)(2) of the Securities Act and/or said Regulation D and similar exemptions under state law. Subscriber
is purchasing the Shares solely for investment purposes, for Subscriber’s own account and not for the account or benefit of any
other person, and not with a view towards the distribution or dissemination thereof. Subscriber did not decide to enter into this Agreement
as a result of any general solicitation or general advertising within the meaning of Rule 502 under the Securities Act.

 

    	 

     

    

 

2.1.8.
Restrictions on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a
public offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities”
within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing
the Shares will contain a legend or notation in respect of such restrictions. If, in the future, Subscriber decides to offer, resell,
pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) an
effective registration statement under the Securities Act or (ii) an exemption from registration available with respect to such sale.
Subscriber agrees that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any
such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration
or available exemption, Subscriber agrees not to resell the Shares. Subscriber further acknowledges that because the Company is a shell
company, Rule 144 may not be available to Subscriber for the resale of the Shares until one year following consummation of the initial
business combination of the Company, despite the release or waiver of any contractual transfer restrictions.

 

2.2.
Company’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Shares, the Company hereby represents
and warrants to Subscriber and agrees with Subscriber as follows:

 

2.2.1.
Organization and Authority. The Company is a Cayman Islands exempted company and possesses all requisite power and authority necessary
to carry out the transactions contemplated by this Agreement. This Agreement is a legal, valid and binding agreement of the Company,
enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general
principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

2.2.2.
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the Company,
(ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule, regulation, order, judgment
or decree to which the Company is subject.

 

2.2.3.
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of the Company in connection with the transactions contemplated by this Agreement.

 

    	 

     

    

 

2.2.4.
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and
validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer
restrictions hereunder and other agreements to which the Shares may become subject, (b) transfer restrictions under federal and state
securities laws, and (c) liens, claims or encumbrances imposed due to the actions of Subscriber.

 

2.2.5.
No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any such transactions or seeks to recover damages or to obtain other relief in connection
with any such transactions.

 

3.
Forfeiture of Shares.

 

3.1.
Partial or No Exercise of the Over-allotment Option. In the event the Over- allotment Option is not exercised in full, Subscriber
acknowledges and agrees that it (or, if applicable, it and/or any transferees of Shares) shall forfeit any and all rights to such number
of Shares (up to an aggregate of [●] Shares (as such amount may be adjusted for share splits, share dividends, reorganizations,
recapitalizations and the like) and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately
following such forfeiture, Subscriber will own an aggregate number of Shares equal to 20% of the issued and outstanding Shares immediately
following the IPO. All references in this Agreement to Shares of the Company being forfeited shall take effect as surrenders and cancellations
for no consideration of such shares as a matter of Cayman Islands law.

 

3.2.
Termination of Rights as Shareholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time
Subscriber (or its successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall
take such action as is appropriate to cancel such forfeited Shares.

 

3.3.
Share Certificates. In the event an adjustment to the Original Certificates, if any, is required pursuant to this Section 3, then
Subscriber shall return such Original Certificates to the Company or its designated agent as soon as practicable upon its receipt of
notice from the Company advising Subscriber of such adjustment, following which a new certificate (the “New Certificate”),
if any, shall be issued in such amount representing the adjusted number of Shares held by Subscriber. The New Certificate, if any, shall
be returned to Subscriber as soon as practicable. Any such adjustment for any uncertificated securities held by Subscriber shall be made
in book-entry form.

 

4.
Waiver of Redemption Rights. Subscriber hereby waives any and all rights to redeem the Shares for a portion of the amounts held
in the trust account into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”)
in the event of (i) the Company’s failure to timely complete an initial business combination, (ii) an extension of the time period
to complete an initial business combination or (iii) upon the consummation of an initial business combination. For purposes of clarity,
in the event Subscriber purchases ordinary shares included in the Units issued in the IPO (“Public Shares”), either
in the IPO or in the aftermarket, any Public Shares so purchased shall be eligible to be redeemed for a portion of the amounts held in
the Trust Account in the event of the Company’s failure to timely complete an initial business combination (but, for the avoidance
of doubt, not in connection with an extension of the time period to complete an initial business combination or upon the consummation
of an initial business combination).

 

    	 

     

    

 

5.
Restrictions on Transfer.

 

5.1.
Securities Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known
as an “Insider Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company (which
will also contain other agreements with respect to the Shares), Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise
dispose of all or any part of the Shares unless, prior thereto, (a) a registration statement on the appropriate form under the Securities
Act and applicable state securities laws with respect to the Shares proposed to be transferred shall then be effective or (b) the Company
has received an opinion from counsel, reasonably satisfactory to the Company, that registration is not required because such transaction
is exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and
all applicable state securities laws.

 

5.2.
Lock-up. Subscriber acknowledges that the Shares will not be transferable, assignable or salable until 30 days after the completion
of the initial business combination, except to permitted transferees as described in the Registration Statement.

 

5.3.
Restrictive Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows (and
any book-entries representing the Shares shall have similar notations):

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND
NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH
LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN A LETTER AGREEMENT WITH ALPHATIME
ACQUISITION CORP (THE “COMPANY”) (A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY AT THE COMPANY’S PRINCIPAL PLACE
OF BUSINESS WITHOUT CHARGE) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN VIOLATION OF
SUCH RESTRICTIONS.”

 

    	 

     

    

 

5.4.
Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted or additional securities
or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5 or into which
such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3 hereof. Appropriate adjustments to
reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this Section 5
and Section 3.

 

6.
Other Agreements.

 

6.1.
Further Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be
necessary to carry out the intent of this Agreement.

 

6.2.
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and
delivered (i) personally or by certified mail (return receipt requested) or overnight courier service or (ii) by electronic mail, if
to the Company, at the address of its principal offices and any electronic mail address as may be designated in writing by the Company
and, if to Subscriber, at its address in the books and records of the Company and any electronic mail address as may be designated in
writing by Subscriber, or to such other addresses as may be designated in writing by the Company or Subscriber. All such notices, statements
or other documents shall be deemed received on the date of receipt by the recipient thereof if received prior to 8:00 p.m. on a business
day in the place of receipt. Otherwise, any such notices, statements or other documents shall be deemed to have been received on the
next succeeding business day in the place of receipt.

 

6.3.
Entire Agreement. This Agreement, together with the Insider Letter and the registration rights agreement to be entered into with
respect to the Shares, each substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated
with the Company’s IPO, embodies the entire agreement and understanding between Subscriber and the Company with respect to the
subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No
statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be
used to interpret, change or restrict, the express terms and provisions of this Agreement.

 

6.4.
Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement
executed by all parties hereto.

 

    	 

     

    

 

6.5.
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not
similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and
shall not constitute a continuing waiver or consent.

 

6.6.
Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written
consent of the other party.

 

6.7.
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties
hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as
a third-party beneficiary of this Agreement.

 

6.8.
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and
governed by the laws of the State of New York applicable to contracts wholly performed within the borders of such state, without giving
effect to the conflict of law principles thereof.

 

6.9.
Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof,
contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the
extent that such court deems it reasonable and enforceable, and, as so limited, shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall
nevertheless remain in full force and effect.

 

6.10.
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of
such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or
discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof
or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver
of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement
shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or
constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without
such notice or demand.

 

6.11.
Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or
in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

    	 

     

    

 

6.12.
No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create
any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission
or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of
such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

6.13.
Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference
only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14.
Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party,
it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered in pdf format
via electronic mail, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such signature page were an original thereof.

 

6.15.
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity
or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
The words “include,” “includes,” and “including” will be deemed to be followed
by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other
gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires.
The words “this Agreement,” “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that
there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity)
which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first
representation, warranty, or covenant.

 

6.16.
Mutual Drafting. This Agreement is the joint product of Subscriber and the Company and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7.
Indemnification. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s
fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature
Page Follows]

 

    	 

     

    

 

If
the foregoing accurately sets forth our understanding and agreement,
please sign
the enclosed
copy of
this Agreement and return it to us.

 

	 	Very
    truly yours,
	 	 
	 	ALPHATIME
    ACQUISITION CORP
	 	 	 
	 	By:
    	/s/
    Dajiang Guo
	 	Name:	Dajiang
    Guo
	 	Title:	CEO

 

Accepted
and agreed as of
the date first written above.

 

ALPHAMADE HOLDING LP

 

	By:	/s/
    Taylor Zhang	 
	Name:	Taylor
    Zhang	 
	Title:	Manager	 

 

[Signature
Page to
Securities Subscription Agreement]Exhibit 10.6

 

PRIVATE
PLACEMENT UNITS PURCHASE AGREEMENT

 

THIS
PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT, dated as of [__], 2022 (as it may from time to time be amended and including all exhibits
referenced herein, this “Agreement”), is entered into by and AlphaTime Acquisition Corp, a Cayman Islands exempted
company (the “Company”), and Alphamade Holding LP, a Delaware limited partnership (the “Purchaser”).

 

WHEREAS,
the Company intends to consummate an initial public offering of the Company’s units (the “Public Offering”),
each unit consisting of one share of the Company’s Ordinary Shares, par value $0.0001 per share (each, a “Share”),
one redeemable warrant (each, a “Warrant”) and one right entitling
the holder thereof to receive one-tenth of one Share upon the completion of an initial business combination (each,
a “Right”). Each warrant
entitles the holder to purchase one Share at an exercise price of $11.50 per Share. The Purchaser has agreed to purchase an aggregate
of 370,500 units (or 409,200 units in the aggregate to the extent the over-allotment option in connection with the Public
Offering is exercised) (the “Private Placement Units”). 

 

NOW
THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section
1. Authorization, Purchase and Sale; Terms of the Private Placement Units.

 

A. Authorization
of the Private Placement Units. The Company has duly authorized the issuance and sale of the Private Placement Units to the
Purchaser.

 

 B. Purchase and Sale of the Private Placement Units.

 

On
the date of the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the
Company (the “IPO Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase
from the Company, an aggregate of 370,500 Private Placement Units at a price of $10.00 per unit for an aggregate purchase price
of $3,705,000 (the “Purchase Price”), which shall be paid by wire transfer of immediately available funds to
the Company in accordance with the Company’s wiring instructions at least one business day prior to the IPO Closing Date. On the
IPO Closing Date, the Company shall either, at its option, deliver certificates evidencing the Private Placement Units purchased by the
Purchaser on such date duly registered in the Purchaser’s name to the Purchaser, or effect such delivery in book-entry form. On
the date of the consummation of the closing of the over-allotment option in connection with the Public Offering or on such earlier time
and date as may be mutually agreed by the Purchaser and the Company (each such date, an “Over-allotment Closing Date,”
and each Over-allotment Closing Date (if any) and the IPO Closing Date being sometimes referred to herein as a “Closing Date”),
the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to an aggregate of 38,700
Private Placement Units, in the same proportion as the amount of the over-allotment option that is exercised, at a price of $10.00
per unit for an aggregate purchase price of up to $387,000 (if the over-allotment option in connection with the Public Offering
is exercised in full) (the “Over-allotment Purchase Price”), which shall be paid by wire transfer of immediately available
funds to the Company in accordance with the Company’s wiring instructions at least one business day prior to such Over-allotment
Closing Date. On the Over-allotment Closing Date, upon the payment by the Purchaser of the Over-allotment Purchase Price payable by it
by wire transfer of immediately available funds to the Company, the Company shall either, at its option, deliver certificates evidencing
the Private Placement Units purchased by the Purchaser on such date duly registered in the Purchaser’s name to the Purchaser, or
effect such delivery in book-entry form.

 

 C. Terms of the Private Placement Units.

 

At
or prior to the time of the IPO Closing Date, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration
Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Private
Placement Units and the Shares and Warrants underlying the Private Placement Units.

 

    	 

     

    

 

Section
2. Representations and Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement and purchase
the Private Placement Units, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall
survive each Closing Date) that:

 

A. Organization
and Corporate Power. The Company is an exempted company duly organized, validly existing and in good standing under the laws of
the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be
expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this
Agreement.

 

 B. Authorization; No Breach.

 

(i)
The execution, delivery and performance of this Agreement and the Private Placement Units have been duly authorized and approved by
the Company. This Agreement constitutes a valid and binding obligation of the Company, enforceable in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, and other laws of general applicability
relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity
or law). Upon each issuance of Private Placement Units in accordance with, and payment pursuant to, the terms of this Agreement, the
Private Placement Units will constitute valid and binding obligations of the Company, enforceable in accordance with their terms,
subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability
relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity
or law).

 

(ii)
The execution and delivery by the Company of this Agreement and the Private Placement Units, the issuance and sale of the Private
Placement Units, the issuance of the Shares, Warrants and Rights upon exercise of the Private Placement Units and the
fulfillment of, and compliance with, the respective terms hereof and thereof by the Company, do not and will not as of each Closing
Date (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result
in the creation of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d)
result in a violation of, or (e) require any authorization, consent, approval, exemption, action, notice, declaration or filing, in
each case, by or to any court or administrative or governmental body or agency pursuant to, the amended and restated memorandum and
articles of association or the bylaws of the Company (in effect on the date hereof or as may be amended prior to completion of the
contemplated Public Offering), or any material law, statute, rule or regulation to which the Company is subject, or any agreement,
order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under federal or
state securities laws.

 

C.
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Placement Units will be
duly and validly issued and the Shares, Warrants and Rights issuable upon exercise of the Private Placement Units will
be duly and validly issued, fully paid and nonassessable. On the date of issuance of the Placement Units, the Shares, Warrants
and Rights issuable upon exercise of the Placement Units shall have been reserved for issuance. Upon issuance in accordance with,
and payment pursuant to, the terms hereof, the Purchaser will have good title to the Private Placement Units and the Shares, Warrants
and Rights issuable upon exercise of such Private Placement Units, free and clear of all liens, claims and encumbrances of any
kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under
federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

D. Governmental
Consents. No permit, consent, approval, or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.

 

    	2

     

    

 

Section
3. Representations and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue
and sell the Private Placement Units to the Purchaser, the Purchaser hereby, severally, and not jointly, represents and warrants to the
Company (which representations and warranties shall survive each Closing Date) that:

 

A. Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

 B. Authorization; No Breach.

 

(i)
The execution, delivery and performance of this Agreement have been duly authorized and approved by the Purchaser. This Agreement
constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium, and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the
Purchaser does not and shall not as of each Closing Date conflict with or result in a breach by the Purchaser of the terms,
conditions or provisions of any agreement, instrument, order, judgment, or decree to which the Purchaser is subject that would
materially impact its ability to perform its obligations hereunder.

 

 C. Investment Representations.

 

(i)
The Purchaser is acquiring the Private Placement Units and, upon exercise of the Private Placement Units, the Shares, Warrants
and Rights issuable upon such exercise (collectively, the “Securities”), for the Purchaser’s own account,
for investment purposes only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D of the Securities
Act of 1933, as amended (the “Securities Act”), and the Purchaser has not experienced a disqualifying event as
enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.

 

(iii)
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and
accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in
order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)
The Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502(c) under the Securities Act.

 

(v)
The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the
opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi)
The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on
or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by
the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

    	3

     

    

 

(vii)
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state
securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2)
sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither
the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder. While the Purchaser understands that Rule 144 under the
Securities Act is not available for the resale of securities initially issued by shell companies (other than business combination
related shell companies) or issuers that have been at any time previously a shell company, the Purchaser understands that Rule 144
includes an exception to this prohibition if the following conditions are met: (i) the issuer of the securities that was formerly a
shell company has ceased to be a shell company; (ii) the issuer of the securities is subject to the reporting requirements of
Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); (iii) the issuer of
the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months
(or such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and (iv) at
least one year has elapsed from the time that the issuer filed current Form 10 type information with the U.S. Securities and
Exchange Commission (the “SEC”) reflecting its status as an entity that is not a shell company.

 

(viii)
The Purchaser has knowledge and experience in financial and business matters, understands the high degree of risk associated with
investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and
risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the
investment in the Securities. The Purchaser can afford a complete loss of its investment in the Securities.

 

Section
4. Conditions of the Purchaser’s Obligations. The obligations of the Purchaser to purchase and pay for the Private Placement
Units are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at and as of
such Closing Date as though then made.

 

B. Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are
required to be performed or complied with by it on or before such Closing Date.

 

C. No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated, or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

D. Registration
Rights Agreement. The Company shall have entered into the Registration Rights Agreement, on terms satisfactory to the
Purchaser.

 

E. Corporate
Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and
performance of this Agreement and the issuance and sale of the Private Placement Units hereunder.

 

Section
5. Conditions of the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are subject
to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and as
of such Closing Date as though then made.

 

B. Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are
required to be performed or complied with by the Purchaser on or before such Closing Date.

 

    	4

     

    

 

C. Corporate
Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and
performance of this Agreement and the issuance and sale of the Private Placement Units hereunder.

 

D. No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated, or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

Section
6. Termination. This Agreement may be terminated at any time after December 31, 2022 upon the election by either the Company or the
Purchaser upon written notice to the other party if the closing of the Public Offering does not occur prior to such date.

 

Section
7. Survival of Representations and Warranties. All of the representations and warranties contained herein shall survive each Closing
Date.

 

Section
8. Definitions. Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the registration
statement on Form S-1, which the Company has filed with the SEC under the Securities Act.

 

Section
9. Miscellaneous.

 

A. Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed
or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement without the prior
written consent of the other party hereto, other than assignments by the Purchaser to its affiliates (including, without limitation,
one or more of its members).

 

B. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective
only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C. Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one
party, but all such counterparts taken together shall constitute one and the same agreement. In the event that any signature is delivered
by facsimile transmission or by e-mail delivery of a “pdf” format data file, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile
or “.pdf” signature page were an original thereof.

 

D. Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive
part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

 

E. Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed
in accordance with the internal laws of the State of New York.

 

F. Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all
parties hereto.

 

[Signature
Page Follows]

 

    	5

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	Alphatime
    acquisition corp, a Cayman Islands exempted company
	 	 	 
	 	By:	 
	 	Name:	 Dajiang Guo
	 	Title:	 Chief Executive Officer

 

	 	PURCHASER:
	 	 
	 	ALPHAMADE HOLDING LP, a Delaware limited partnership
	 	 	 
	 	 	 
	 	By:
    	 
	 	Name:	 Taylor Zhang
	 	Title:	 Manager

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