AlphaTime Acquisition Corp Announces Closing of Full Over-allotment Option

Cayman Islands, Jan. 09, 2023 (GLOBE NEWSWIRE) -- AlphaTime Acquisition Corp (the “Company”) today announced that the underwriters of its initial public offering exercised in full their over-allotment option on January 6, 2023 to purchase an additional 900,000 units at a public offering price of $10.00 per unit. After giving effect to the exercise of the over-allotment option, a total of 6,900,000 units have been issued, resulting in total gross proceeds of $69,000,000. The units, including those issued in connection with the over-allotment option, are listed on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “ATMCU”. Each unit consists of one ordinary share, one redeemable warrant entitling the holder to purchase one ordinary share at a price of $11.50 per share, and one right entitling the holder to receive one-tenth (1/10) of one ordinary share upon consummation of an initial business combination. After the securities comprising the units begin separate trading, the ordinary shares, warrants and rights are expected to be listed on Nasdaq under the symbols “ATMC”, “ATMCW”, and “ATMCR”, respectively.

Read more at globenewswire.com