Alphatime Acquisition Corp Reports Board Resignations, Appoints Two Directors

What Happened
Alphatime Acquisition Corp filed an 8-K on July 31, 2026 reporting that on July 28, 2026 directors Li Wei and Michael Coyne resigned from the Board and all committees for personal reasons (not due to any disagreement with the company). The Board on July 28, 2026 appointed Seongil Lee and Chee Aun Pua as new independent directors and assigned them to key committees.

Key Details

• Resignations effective July 28, 2026: Li Wei and Michael Coyne — both cited personal reasons; company states no disagreement with management.
• New appointments effective July 28, 2026: Seongil Lee (age 56) as Class III director — term expires at the third annual meeting; Chee Aun Pua (age 52) as Class II director — term expires at the second annual meeting.
• Committee roles: both Mr. Lee and Mr. Pua joined the Audit Committee and the Compensation Committee; Mr. Lee will chair the Audit Committee and Mr. Pua will chair the Compensation Committee.
• Independence and compensation: the Board determined both appointees are independent under Nasdaq rules; none of the directors (including Mr. Lee and Mr. Pua) receive cash compensation.
• Backgrounds: Mr. Lee has recent roles including Head of UNIGO Co., Ltd.’s Korean branch (since Feb 2026) and prior overseas operations experience; Mr. Pua has travel and business development roles in Malaysia (current role since Jan 2026). The company reports no arrangements or relationships requiring disclosure under Item 404(a) of Regulation S‑K.

Why It Matters
These changes alter the company’s board composition and committee leadership, which affects governance and oversight responsibilities (Audit and Compensation). The filing notes the resignations were not due to disagreements—a disclosure investors often watch for potential governance or operational issues. The Board’s independence determination and the lack of cash director compensation are also relevant to shareholders assessing governance practices.