Alpine Acquisition in an 8-K filing said its sponsor deposited $1,070,000 into its trust to secure a three-month extension on its deadline for combining with Two-Bit Circus and acquiring two hotels.
Alpine now has until Dec. 2 to complete the deals.
The SPAC has received $600,000 in sponsor loans since June.
Two Bit Circus is 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.
The SPAC raised raised $107 million in a September 2021 IPO. Read more.
