Hospitality and entertainment SPAC Alpine Acquisition files for a $100 million IPO

Alpine Acquisition, a blank check company led by Alpine Consolidated and Two Bit Circus executives, filed on Wednesday with the SEC to raise up to $100 million.

The Fountain Hills, AZ-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Alpine Acquisition would command a market value of $125 million.

The company is led by Chairman Elan Blutinger, the co-founder and Managing Director of Alpine Consolidated, a firm specializing in consolidating travel and technology companies, and CEO Kim Schaefer, who currently serves as the CEO of experiential entertainment company Two Bit Circus and an Advisor to Alpine Consolidated.

Concurrent with its business combination, Alpine Acquisition currently intends to combine with Two Bit Circus. The company will not, however, complete an initial business combination with only Two Bit Circus and plans to target drive-to destination hotels, digital entertainment and gaming, and lodging technology businesses.

Alpine Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol REVEU. Maxim Group LLC is the sole bookrunner on the deal.