Alpine Acquisition in an 8-K said it adjourned yesterday’s shareholder meeting without voting on the proposed merger with Two Bit Circus, a micro amusment park company. The vote is now set for March 30.
This marks the fourth time the SPAC has adjourned in the last month without voting on the deal.
Alpine in the filing said it needs “additional time to engage with its stockholders and finalize terms in connection with the proposed business combination.”
A vote was originally scheduled for Feb. 24, then adjourned to Feb. 28, to March 16 and then rescheduled again for yesterday.
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 and used for expansion by the Los Angeles-based Two Bit Circus, which operates “micro amusement parks.”
The SPAC raised raised $107 million in a September 2021 IPO. Read more.
