ALPHATIME ACQUISITION CORP Material Event - What Happened

Hey there! Let's break down some big news about ALPHATIME ACQUISITION CORP in a way that makes sense, without all the confusing finance talk. Think of this as me explaining it to you over coffee.

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1. What happened? (in plain English - the actual event)

ALPHATIME ACQUISITION CORP, which is a special kind of company called a "SPAC" (we'll get to that in a sec), just announced a major step forward: their shareholders have overwhelmingly approved the plan to merge with HCYC Group Company Limited (HCYC). This means the deal they've been working on to bring HCYC public through ALPHATIME is now on track for completion.

The merger is a bit complex, involving HCYC becoming a wholly-owned subsidiary of a new public entity called HCYC Holding Company (often referred to as "PubCo"). Essentially, ALPHATIME is successfully completing its mission to merge with a private company and bring it to the public stock market.

2. When did it happen?

The shareholder meeting where this crucial approval took place was held on December 5, 2025.

3. Why did it happen? (context and background)

Okay, first, what's a SPAC? Think of ALPHATIME as a "blank check" company. It's set up by investors with the sole purpose of finding a private company to merge with and bring it onto the public stock market. It's like a shortcut for a private company to become publicly traded without going through the traditional, often lengthy, IPO process.

This shareholder approval is the culmination of ALPHATIME's entire purpose. They found HCYC, negotiated a merger agreement (which was originally dated January 5, 2024, and later amended on August 19, 2024), and now their shareholders have given it the green light. The vote was a strong endorsement, with 2,254,597 ordinary shares voting in favor and zero against, showing clear support for the deal.

4. Why does this matter? (impact and significance)

This is a huge milestone for ALPHATIME. It means they've successfully completed the most critical step in their journey as a SPAC. The company they set out to find, HCYC Group Company Limited, is now officially on the path to becoming a publicly traded company. This merger will give HCYC access to public markets for funding and growth, which can fuel its future expansion and innovation.

5. Who is affected? (employees, customers, investors, etc.)

• Investors in ALPHATIME: Your investment is now transitioning from a "blank check" company into shares of the new public entity, HCYC Holding Company (which will own HCYC). The future value of your investment will depend on how HCYC performs as a public company.
• HCYC Group Company Limited (HCYC): This is a transformative moment for HCYC. They are about to become a publicly traded company, opening doors to new capital and increased visibility.
• Employees of HCYC: They will now work for a publicly traded company, which can bring new opportunities, but also potentially more scrutiny and different reporting requirements.
• Customers of HCYC: While immediate changes might not be apparent, public companies often have more resources for growth, product development, and market expansion, which could ultimately benefit customers.

6. What happens next? (immediate and future implications)

The next steps involve formally closing the merger. ALPHATIME will effectively merge into HCYC Holding Company (PubCo), and HCYC Group Company Limited will become a subsidiary of PubCo. Soon after, the new combined company will begin trading under a new name and stock ticker symbol, reflecting HCYC's public status. After that, the focus will entirely shift to HCYC's business performance and growth as a public entity.

7. What should investors/traders know? (practical takeaways)

• Merger Approved: This shareholder approval significantly reduces the risk associated with investing in a SPAC, as the primary goal of finding and securing a merger target has been achieved.
• New Company & Ticker: You will soon be investing in HCYC Group Company Limited (via HCYC Holding Company), not just a SPAC. It's crucial to research what HCYC does, its financial health, and its future prospects. Be prepared for ALPHATIME's stock symbol to change to reflect the new company.
• Focus on HCYC's Performance: Now that the merger is approved, the market's attention will shift from the merger process itself to the actual business operations and financial results of HCYC.