Alpine Acquisition in an 8-K filing said it issued a promissory note for $200,000 to its sponsor for working capital. The note follows a loan of $400,000 the SPAC received from its sponsor in June.
Alpine has a merger agreement with Two Bit Circus, billed as the operator of the world’s first Micro-Amusement Parks. Alpine in May also entered into a definitive agreement with affiliates of Atrium Hospitality, to acquire two full-service conference hotels with 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, which would be renovated.
Alpine raised $107 million in a September 2021 IPO. Read more.
