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NEW YORK - AlphaTime Acquisition Corp, a company specializing in blank check investments with a market capitalization of approximately $80 million, announced the resignation of its Chief Executive Officer and Director, Dajiang Guo, effective Monday. According to the company’s recent SEC filing, Guo’s departure is due to personal reasons and not related to any disagreements with the company’s operations, policies, or practices. The company’s stock (ATMCU) is currently trading near its 52-week high at $11.63, showing resilience amid the leadership change.
Following Guo’s resignation, the board appointed Gan Kim Hai as the new CEO and a director on Tuesday. Hai has been with Risesun Group, a division of AlphaTime, since 2016, managing the Malaysian office and leading business development and market expansion. Prior to this, he served as IT manager at Ahimsa Vegetarian Group from 2014 to 2016. Hai holds a diploma in computer studies and a Trust Advisory Certification from Universiti Teknologi Malaysia.
The company confirmed that there are no familial relationships between Hai and other directors or executive officers, and his appointment was not based on any prior arrangements. Additionally, there are no reportable related party transactions involving Hai.
AlphaTime Acquisition Corp, headquartered in New York, is listed on the Nasdaq Stock Market under the tickers ATMC for its ordinary shares, ATMCU for its units, ATMCW for its warrants, and ATMCR for its rights. The company is classified as an emerging growth company and operates under the SIC code 6770 for blank checks.
This executive shift comes at a time when AlphaTime Acquisition Corp continues to navigate the investment landscape, with Hai’s experience expected to contribute to the company’s strategic direction. The information in this article is based on a press release statement.
In other recent news, AlphaTime Acquisition Corp has been granted an extension by Nasdaq to comply with the exchange’s minimum public holder requirement. The company, which was initially notified of its non-compliance on November 29, 2024, has until May 28, 2025, to meet the rule that requires at least 400 total holders for continued listing. Additionally, AlphaTime has extended its merger deadline to October 4, 2025, following a shareholder meeting where amendments to the Trust Agreement and Charter were approved. This extension allows the company more time to complete a business combination, with the requirement to deposit $55,000 monthly into the Trust Account. These developments were part of strategic efforts to maintain listing status and provide additional time for business opportunities. Approximately $38.85 million will be withdrawn from the Trust Account to honor redemption rights, leaving AlphaTime with around $15.24 million remaining. The company has expressed intentions and strategies to address these developments in its recent SEC filings.
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