Alpine Acquisition expects to move its merger deadline from Dec 2, 2022 to March 2, 2023. The extension would be the second of up to two three-month extensions permitted under the SPAC’s governing documents.
In return, the sponsor intends to deposit $1.07 million into the trust account by tomorrow.
Alpine’s merger agreement with Two Bit Circus calls for the target to receive $47,247,280.
Alpine also has an 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 $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.
