Alpine Acquisition Corp.
REVE · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Alpine Acquisition Sponsor LLC, listed on Nasdaq in August 2021.
- What it's doing now
- It agreed in December 2022 to buy Two Bit Circus, Inc., an Immersive entertainment and amusement company company. The deal valued that business at about $49.6M. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Two Bit Circus, Inc.
- Industry
- Immersive entertainment and amusement company
- Deal value
- $50M
- announced 16 December 2022
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 31 August 2021
- size not on file · 102.0% of each $10 unit into trust
- Headquarters
- 10141 N. CANYON VIEW LANE, FOUNTAIN HILLS, AZ, 85268
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Schaefer Kimberly (Chief Executive Officer) · LOMBARDO ALEX (CFO and Secretary) · Nolan Alissa N (Director)
- Listed securities
- REVE common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 31 August 2021IPOpassed
IPO size not on file
- 16 December 2022Deal announcedpassed
Combination with Two Bit Circus, Inc.
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- Two Bit Circus, Inc.$50M · announced 16 December 2022closedImmersive entertainment and amusementSEC primary
The score
deterministic, from filed fieldsREVE is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 294 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Alpine Acquisition Corp. (Nasdaq: REVE) was a blank-check company whose initial public offering was priced on August 31, 2021, under SEC file number 333-258063. The company self-described as a blank-check company in its 424B4 prospectus (accession 0001213900-21-045819), filed under S-1 0001213900-21-037828, which registered shares sold for cash. Alpine was classified under SEC SIC industry code 7990 (Services-Miscellaneous Amusement & Recreation). The company completed a business combination and no longer files, with its closed status established by an 8-K filed on March 29, 2023 (accession 0001213900-23-024136), which described a merger agreement under which a merger sub was to merge with and into Bit Circus, Inc. ("TBC"), a Delaware corporation, with TBC surviving as a wholly-owned subsidiary of Alpine.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
This is not a single-target de-SPAC: the SPAC is simultaneously merging with an entertainment company and buying two hotels from unrelated sellers, and both legs together constitute the Business Combination. A holder assessing the deal is therefore assessing two unrelated businesses and two sets of closing risk. TBC holders who exercise appraisal rights under DGCL Section 262 are excluded from the conversion. The registered ceiling is 6,910,000 shares — small relative to most registrations in this slice.
The registered ceiling of 6,910,000 shares is identical to the figure in the following amendment, so it was fixed at this stage. The two-leg structure — an operating-company merger plus a two-hotel purchase from unrelated sellers — means the SPAC's shareholders are approving two distinct acquisitions in one vote. No vote date is stated in this portion.
The registered ceiling of 6,910,000 shares is fixed here and holds through the two amendments that follow. The meeting's characterisation changes in this version from an annual meeting to a special meeting in lieu of the annual meeting — a difference in what business can be transacted at it. The two-leg structure means shareholders approve an operating-company merger and a hotel purchase together. No vote date is stated in this portion.
The registered share count in this version is 6,674,728 — different from both the 6,930,000 in the original filing and the 6,910,000 in the amendments that follow, so the figure moved twice during SEC review and is strictly version-specific. The meeting is characterised here as an annual meeting rather than a special meeting in lieu of one. No vote date is stated.
This is the baseline of the Alpine / Two Bit Circus registration and it supplies the merger agreement's signing date — May 18, 2022 — which the later amendments describe only as 'as amended'. The registered ceiling here is 6,930,000 shares, the highest figure in this registration statement's series. The two-leg structure, an operating-company merger plus a two-hotel purchase, is present from the outset.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Alpine Acquisition Sponsor LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B3 0001213900-23-008985
Trading & liquidity
Company profile
Directors & officers
- Schaefer KimberlyChief Executive Officer
- LOMBARDO ALEXCFO and Secretary
- Nolan Alissa NDirector
- Goldberg DavidDirector
- SILVER HOWARD ADirector
- BLUTINGER ELANDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
6 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Weiss Asset Management LPwith 2 other reporting persons on the same schedule6.3% · SC 13G/AFeb 10, 2023 stale
- MMCAP International Inc. SPCwith 1 other reporting person on the same schedule4.8% · SC 13G/AFeb 7, 2022 stale
- D. E. SHAW & CO, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 8, 2024 stale
- Hudson Bay Capital Management LPwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 6, 2024 stale
- Space Summit Capital LLCnot stated · SC 13G/AFeb 2, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — REVE (Alpine Acquisition Corp.)
vault-note · /vault/tickers/REVE
- Vault deal note — Two Bit Circus, Inc. (REVE)
vault-note · /vault/deals/two-bit-circus-inc
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 7990 (Services-Miscellaneous Amusement & Recreation). The screen found it by filing SHAPE instead — S-1 2021-07-21 → 8-A12B 2021-08-27 → 424B4 2021-08-31 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 7990 + self-described blank check in 424B4 0001213900-21-045819; 424B 0001213900-21-045819 priced 2021-08-31 under S-1 0001213900-21-037828 (file 333-258063, an offering for cash); common ticker REVE off 10-Q 0001213900-22-074253 (2022-11-21); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-258063, which belongs to S-1 0001213900-21-037828 (2021-07-21) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-08-31). Ending PROVEN, not inferred: CLOSED per 8-K 0001213900-23-024136 (2023-03-29) — o Bit Circus, Inc., a Delaware corporation (" TBC "). Pursuant to the Merger Agreement, Merger Sub was to merge with and into TBC, with TBC surviving the merger as a wholly-owned subsidiary of Alpine. Concurrently with the execution of the Merger Agreement, Alpine entered into a Purchase and Sale Agreement (as amended, the " Hotel Purchase Agreement ", and collectively with the Merger Agreement th. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Alpine Acquisition Sponsor LLC" sourced from prospectus definition (10-K) acc 0001213900-22-016858.
AI-extracted target (z-ai/glm-5.2, conf 0.95)
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read