AlphaTime Acquisition p(ATMC)

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AlphaTime Acquisition p(ATMC) - 2024 Q4 - Annual Report
2025-04-15 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41584 (347) 627-0058 (Issuer's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: ALPHATIME ACQUISITION CO ...
AlphaTime Acquisition p(ATMC) - 2024 Q3 - Quarterly Report
2024-11-19 21:15
Financial Performance - For the three months ended September 30, 2024, the company reported a net income of $404,367, with a loss of $280,163 from formation and operating costs offset by $684,530 earned on investments held in the Trust Account [125]. - For the nine months ended September 30, 2024, the company had a net income of $1,232,002, consisting of a loss of $915,533 from formation and operating costs and $2,147,535 earned on investments held in the Trust Account [125]. - As of September 30, 2024, the company had a cash balance of $1,473 and a working capital deficit of $2,836,334 [131]. - As of September 30, 2024, the amount due to related parties was $504,708, reflecting costs paid on behalf of the company [154]. - As of September 30, 2024, the amount due to related parties was $504,708, an increase from $199,318 as of December 31, 2023 [154]. IPO and Fundraising - The company completed its IPO on January 4, 2023, raising gross proceeds of $60,000,000 from the sale of 6,000,000 units at $10.00 per unit [127]. - The company completed the sale of 370,500 Private Placement Units at a price of $10.00 per unit, generating total gross proceeds of $3,705,000 on January 4, 2023 [148]. - The underwriters exercised their over-allotment option in full, purchasing an additional 900,000 Units at a price of $10.00 per unit, generating gross proceeds of $9,000,000 on January 6, 2023 [149]. - The company paid a cash underwriting commission of $0.125 per Unit for the additional 900,000 Units, with a deferred commission of $0.35 per Unit totaling $2,415,000 to be paid from the Trust Account upon completion of the initial business combination [157]. - The Company recorded a cash underwriting commission of $0.125 per Unit for the additional 900,000 Units, totaling $112,500 [157]. Trust Account and Redemptions - Following the IPO, the company held $70,242,000 in the Trust Account, with $53,347,588 in marketable securities as of September 30, 2024 [130]. - Approximately $23,302,146 was redeemed from the Trust Account following the exercise of redemption rights by 2,160,774 ordinary shares, leaving approximately $51,712,221 in the Trust Account [136]. - The ordinary shares subject to possible redemption are presented at a redemption value of $11.09 per share as temporary equity [165]. Business Combination and Future Plans - The company entered into a Merger Agreement on January 5, 2024, to merge with HCYC Group Company Limited, pending shareholder approval and customary closing conditions [137]. - The company plans to focus its acquisition efforts on rapidly-growing sectors such as fintech, clean energy, biotech, and artificial intelligence, primarily in Asia [123]. - The company has extended the deadline for consummating a business combination to January 4, 2025, with provisions for additional extensions [135]. - The Company extended the deadline to complete its initial business combination from October 4, 2023, to January 4, 2024, by depositing $690,000 into the Trust Account [153]. - The Company entered into a non-interest bearing promissory note with the Sponsor for $690,000, payable upon the earlier of January 4, 2024, or after the completion of an initial business combination [153]. Costs and Expenses - The company has incurred significant costs related to its financing and acquisition plans, raising doubts about its ability to continue as a going concern [138]. - An administration fee of $30,000 and $90,000 was recorded for the three and nine months ended September 30, 2024, respectively [156]. - The company has incurred a cash fee of $200,000 as deferred offering costs for advisory services related to the IPO and business combination [161]. - The company has no off-balance sheet arrangements or commitments as of September 30, 2024 [162].
AlphaTime Acquisition p(ATMC) - 2024 Q2 - Quarterly Report
2024-08-14 20:43
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41584 ALPHATIME ACQUISITION CORP (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or Other Jurisdiction of I ...
AlphaTime Acquisition p(ATMC) - 2024 Q1 - Quarterly Report
2024-05-20 20:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41584 ALPHATIME ACQUISITION CORP (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or Other Jurisdiction of ...
AlphaTime Acquisition p(ATMC) - 2023 Q4 - Annual Report
2024-04-15 21:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the year ended December 31, 2023 Commission File Number 001-41584 ALPHATIME ACQUISITION CORP (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or Other Jurisdiction of Incorporation) (I.R.S. Employer Identification No.) 500 5 Avenue, Suite 938 New York, NY 10110 N/A (Address of principal executive offices) ...
AlphaTime Acquisition p(ATMC) - 2023 Q3 - Quarterly Report
2023-11-13 21:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41584 ALPHATIME ACQUISITION CORP (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or Other Jurisdiction ...
AlphaTime Acquisition p(ATMC) - 2023 Q2 - Quarterly Report
2023-08-11 20:33
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41584 ALPHATIME ACQUISITION CORP (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or Other Jurisdiction of I ...
AlphaTime Acquisition p(ATMC) - 2023 Q1 - Quarterly Report
2023-05-15 20:06
Financial Performance - As of March 31, 2023, the company reported a net income of $524,743, consisting of a loss of $207,499 from formation and operating costs, offset by $732,242 earned on investments held in the Trust Account[90]. - The company has not engaged in any operations or generated revenues to date, and does not expect to do so until the completion of its initial business combination[90]. - The company may require additional capital to meet liquidity needs beyond the net proceeds from the IPO[95]. IPO and Capital Raising - The company completed its IPO on January 4, 2023, raising gross proceeds of $60,000,000 from the sale of 6,000,000 units at $10.00 per unit[91]. - An additional 900,000 units were sold under the underwriters' over-allotment option, generating gross proceeds of $9,000,000[92]. - The company completed the sale of 370,500 Private Placement Units at a price of $10.00 per unit, generating total gross proceeds of $3,705,000 on January 4, 2023[107]. - The underwriters exercised their over-allotment option in full, purchasing an additional 900,000 Units at a price of $10.00 per unit, generating gross proceeds of $9,000,000[111]. Trust Account and Cash Position - As of March 31, 2023, the Trust Account held marketable securities valued at $70,974,242, primarily in U.S. government treasury bills[93]. - The company had a cash balance of $186,560 and a working capital surplus of approximately $175,366 as of March 31, 2023[95]. - As of March 31, 2023, the amount due to related parties was $28,693, a decrease from $380,566 as of December 31, 2022, representing a reduction of approximately 92.5%[109]. Business Strategy and Operations - The company intends to focus its acquisition efforts on rapidly-growing sectors such as fintech, clean energy, biotech, and AI, primarily in Asia[89]. - The company has not yet identified a specific business combination target and has not engaged in substantive discussions regarding potential targets[88]. - The company expects to incur increased expenses related to being a public company, including legal and compliance costs[90]. Fees and Costs - An administration fee of $30,000 was recorded for the three months ended March 31, 2023, with a maximum allowable charge of $10,000 per month until the close of the initial business combination[110]. - The company has incurred a total cash fee of $200,000 for advisory services related to the IPO, with $160,000 paid by the Sponsor through December 31, 2022, and an additional $40,000 paid subsequently[115]. - The Company incurred deferred offering costs of $200,000 for advisory services related to the IPO, with $160,000 paid by the Sponsor by December 31, 2022, and an additional $40,000 paid by March 31, 2023[115]. Accounting and Financial Reporting - The company has not identified any critical accounting policies that could materially affect its financial statements[117]. - The ordinary shares subject to possible redemption are presented at a redemption value of $10.18 per share, classified as temporary equity[118]. - Deferred offering costs were recorded as $0 as of March 31, 2023, down from $584,518 as of December 31, 2022[121]. - The company has no off-balance sheet arrangements or commitments as of March 31, 2023[116].
AlphaTime Acquisition p(ATMC) - 2022 Q4 - Annual Report
2023-03-24 01:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the year ended December 31, 2022 Commission File Number 001-41584 ALPHATIME ACQUISITION CORP (Exact name of registrant as specified in its charter) 500 5 Avenue, Suite 938 New York, NY 10110 N/A (Address of principal executive offices) (zip code) | --- | |-------| | | | | | | | | | | | | | | Cayman Islands (State or Other Jurisdiction of ...