** Shares of special purpose acquisition company AlphaTime Acquisition Corp ATMC.O rise 604% to $109 in premarket trading

** ATMC shareholders approve merger with intermediary insurance brokerage company HCYC holdings Co

** SPACs are publicly listed shell companies that raise funds with the intention of merging with a private company within two years of floating its shares

** HCYC conducts its insurance brokerage operations through its subsidiary, HCYC Wealth Management $(ASIA)$

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))