Hospitality and entertainment SPAC Alpine Acquisition prices $100 million IPO

Alpine Acquisition, a blank check company led by Alpine Consolidated and Two Bit Circus executives, raised $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.

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 and Director 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 plans to list on the Nasdaq under the symbol REVEU. Maxim Group LLC acted as sole bookrunner on the deal.