PepperLime Health Acquisition Mulls Sale of Sponsor Stake as Alternative to Liquidation

PepperLime Health Acquisition in a regulatory filing said it continues to explore options other than liquidation. One option is a sale of the sponsor econmics, although no definitive agreement has been executed “and there is no assurance that one will be entered into before April 19,” which is the completion deadline, PepperLime said.

The SPAC last week deposited $16,277.20 into trust to extend the business combination deadline for another month, to March 19.

PepperLime missed its original completion deadline in January and had said that Feb. 7 would be the last day its shares would trade on the Nasdaq.

The SPAC raised $150 million in an October 2021 IPO with plans to target companies at the intersection of technology and consumer health and wellness. Read more.

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Alpine Acquisition Again Postpones Vote on Two Bit Circus Deal

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.