Alpine Acquisition in an 8-K filing said it will issue dividends to stockholders who do not redeem their shares before completion of the SPAC’s proposed merger with Two Bit Circus and acquisition of two convention hotels from Atrium Hospitality.
Two Bit Circus bills itself as the operator of the world’s first Micro-Amusement Parks. Atrium Hospitality’s hotels cover 739 rooms and 135,000 square feet of conference facilities in Denver, CO and Stamford, CT.
Alpine would pay $50 million in an all-stock transaction for Two Bit Circus and $65 million in cash and stock for the two conference hotels.
If the deal is approved and closes, Alpine in the regulatory filing said it would issue a dividend of 0.665 shares for each public share held of record on the day following the closing. The merger targets have consented to the dividend offering, according to the filing Read more.
