Alpine Acquisition Corporation, a special purpose acquisition company, and Two Bit Circus, Inc., creators of the world’s first "micro-amusement parks" have entered into definitive agreements for a business combination. Alpine also entered into a definitive agreement with affiliates of Atrium Hospitality, LP, to acquire two full-service conference hotels with 739 rooms and 135,000 square feet of conference facilities located in Denver, Colorado and Stamford, Connecticut. Once the transactions are complete in the third quarter of 2022, Alpine will acquire Two Bit Circus and the hotels, and start renovating both properties.
The hotels will be rebranded to Revelers Resorts, using Two Bit Circus’ proprietary technology and entertainment experiences. The combined company is expected to be renamed “Two Bit Entertainment Corp.”
Alpine Acquisition Corporation was created with the idea of developing new drive-to-destination resorts. Its executive team has experience in developing, managing and building custom branded family entertainment from 20 years previously with Great Wolf Resorts. Two Bit Circus, Inc., brings substantial talent of innovation and strategy in social play experiences.
The new entertainment brand, Revelers Resorts, will provide inclusive activities along with an immersive story experience woven throughout the resort. It will include food and beverage offerings, circus adventures, STEAM games and workshop activities, among others.
Purchasing existing conference center hotels in strong demographic locations at deep discounts to their replacement costs is expected to allow the new brand to swiftly enter new markets, provide affordable entertainment and accommodation, and grow quickly and profitably. These hotels already have the full-service amenities needed to adapt and renovate to the new brand along with leveraging Two Bit Circus’ experiential entertainment technology to create Revelers Resorts.
Two Bit Circus shareholders will contribute 100 percent of their equity into the combined company. Alpine will issue an aggregate of 4,980,000 shares of common stock to the Two Bit Circus shareholders and 1,950,000 shares of common stock to the sellers of the hotels being acquired. The boards of directors of Alpine and Two Bit Circus have approved the proposed business combination.
For more information, visit www.alpineacquisitioncorp.com and www.twobitcircus.com.
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