AlphaTime shares surge 391.79% after-hours on shareholder approval of HCYC merger.

AlphaTime Acquisition Corp (ATMC) surged 391.79% in after-hours trading following shareholder approval of its merger with HCYC Holding Company, which was finalized as the Form F-4 registration became effective. The merger, set to rebrand the combined entity as HCYC on NASDAQ, unlocked significant market optimism due to HCYC’s established Hong Kong insurance brokerage expertise and growth potential in Asia’s expanding insurance market. Strategic catalysts included enhanced public market visibility, financial incentives tied to $5M–$15M net income targets, and a $75M base valuation. However, risks such as regulatory scrutiny under HFCAA and concentrated ownership (63% HCYC stake) added volatility. The post-merger reorganization, including a 10,000-for-1 share consolidation, amplified price movements, while heavy redemptions and a $11.5M PIPE financing underscored the deal’s complexity. The after-hours surge reflected investor anticipation of the merger’s transformative potential despite lingering execution and regulatory uncertainties.