ALPINE ACQUISITION CORPORATION ANNOUNCES INTENTION TO

FOUNTAIN HILLS, AZ, Aug. 29, 2022 (GLOBE NEWSWIRE) — Alpine Acquisition Corporation (NASDAQ: REVE) (“Alpine” or the “Company”) announced today that its sponsor, Alpine Acquisition Sponsor LLC (the “Sponsor”), requested that the Company extend the date by which it has to consummate a business combination from September 2, 2022 to December 2, 2022 (the “Extension”). The Extension is the first of up to two three-month extensions permitted under the Company’s governing documents. In connection with such Extension, the Sponsor has notified the Company that it intends to cause an aggregate of $1,070,000 to be deposited into the Company’s trust account established in connection with the Company’s initial public offering on or before September 2, 2022. 

As previously announced, on May 18, 2022, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with AAC Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), and Two Bit Circus, Inc., a Delaware corporation (“Two Bit Circus” or “TBC”). Pursuant to the Merger Agreement, Merger Sub will merge with and into TBC, with TBC surviving the merger as a wholly-owned subsidiary of the Company (the “Merger”). Concurrently with the execution of the Merger Agreement, the Company entered into a Purchase and Sale Agreement (“Hotel Purchase Agreement”) by and among Pool IV Finance LLC, Pool IV TRS LLC and PHF II Stamford LLC, as sellers (“Hotel Sellers”), and the Company, as purchaser, for the purchase and sale of the Hilton Stamford Hotel & Executive Meeting Center and the Crowne Plaza Denver Airport Convention Center Hotel (together, the “Hotels”).

The transaction is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions, including the approval of the Company’s stockholders. 

About Alpine Acquisition Corporation

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