Alpine Acquisition for the second time in less than a week adjourned a meeting for shareholdewrs to vote on the SPAC’s proposed combination with Two Bit Circus, an operator of micro amusement parks.
Alpine in an 8-K said the meeting has been pushed to March 16 at noon to give the SPAC “additional time to engage with its stockholders and finalize terms in connection with the proposed business combination.”
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.
The SPAC raised raised $107 million in a September 2021 IPO. Read more.
