AlphaTime Acquisition Corp Announces Entering into a Merger Agreement with HCYC Group Company Limited

Winston & Strawn is representing AlphaTime Acquisition Corp. (NASDAQ: ATMC), a special purpose acquisition company, in its announced business combination with HCYC Group Company Limited. HCYC functions as a registered holding company in the insurance sector, headquartered in the Cayman Islands.

The transaction will be structured as a business combination involving multiple mergers. As a result of the mergers, HCYC shareholders will receive 7,500,000 ordinary shares of a wholly owned subsidiary of HCYC Holding Company, valued at $75,000,000. The transaction has been approved by the boards of directors of ATMC, HCYC and each Acquisition Entity and is expected to be consummated in early 2024, subject to regulatory approval and respective shareholder approval by the shareholders of ATMC and the shareholders of HCYC and the satisfaction of certain other customary closing conditions.