M&A - ALPHATIME ACQUISITION CORP

Form Type: 10-K

Filing Date: 2025-04-15

Corporate Action: Merger

Type: Update

Accession Number: 000164117225004801

Filing Summary: AlphaTime Acquisition Corp, a blank check company incorporated in the Cayman Islands, is preparing for a series of mergers with HCYC Group Company Limited and its subsidiaries as part of a Business Combination. The company, having issued 3,469,450 ordinary shares as of April 15, 2025, is completing its merger process after extending the deadline for the Business Combination up to October 4, 2025. The merger agreement has been approved by the boards of directors of both companies, and the completion of the merger is contingent upon shareholder approvals and the fulfillment of customary closing conditions. To finance these transactions, AlphaTime is also looking to secure PIPE investments of at least $9 million. The report outlines the company's fiscal operations and expectations for revenue generation after the Business Combination, indicating that it has not yet commenced any revenue-generating operations since its inception in September 2021. Candidate evaluation for mergers is focused on international markets, particularly in Asia, with the management team’s expertise guiding these pursuits.