Alpine (REVE) Further Adjourns Completion Vote

Alpine (NYSE:REVE) announced this afternoon that it has further adjourned its special meeting to complete its transaction with experiential entertainment company Two Bit Circus.

The SPAC originally intended to hold its special meeting on February 24, but has adjourned it three times since then. Alpine now expects to reconvene the meeting on March 28 at 12:00 p.m. to provide itself with additional time to finalize the items necessary to complete its proposed merger.

The SPAC also held an extension meeting in late February, giving it a new completion deadline of April 2 instead of March 2. But, at that meeting, it saw 98.03% of its trust redeemed and is now left with just $2.22 million post-vote.

Alpine announced its $153 million deal with Two Bit Circus in May 2022.  Two Bit Circus runs a micro amusement park in Los Angeles and this deal would see it acquire two conference hotels to expand to Denver and Stamford, CT.