Alpine Acquisition further adjourned its stockholders meeting schedukled for tomorrow “to provide the company additional time” to complete the items necessary to consummate the business combination with Two Circus. The SPAC added that it wants to “further engage with current and potential stockholders.”
The meeting has been adjourned to March 28 at 12:00 p.m., with a new redemption deadline of March 24. The meeting was previously convened and adjourned Feb. 24 and Feb. 28 for essentially the same reasons stated for the latest postponement.
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.
Source: Alpine Acquisition Adjourns Meeting on Two Bit Circus Vote for Third Time