Alpine Acquisition in an 8-K said it adjourned today’s shareholder meeting when a vote was expected on the SPAC’s plan to merge with Two Bit Circus. The meeting has been delayed until Feb. 28 “to allow additional time for the company to engage with its stockholders and solicit additional votes and redemption reversals,” the filing states.
Alpine’s merger agreement with Two Bit Circus was announced last May. The deal has been tweaked several times since then, and now calls for the target to receive about $47 million.
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.
Alpine is on its second of three 90-day extensions. The current extension expires March 8.
Two Bit Circus operates what it calls the world’s first Micro-Amusement Parks. Read more.
