Alpine 4 Technologies, Ltd. (ALPP) Enters the Commercial Drone Market With its Acquisition of Impossible Aerospace Corporation
PHOENIX, Nov. 17, 2020 /PRNewswire/ — Alpine 4 Technologies, Ltd., (OTCQB:ALPP) owner of leading small market businesses, announced today that it has entered into a binding merger agreement with Impossible Aerospace Corporation. Impossible Aerospace builds high-performance electric aircraft and drones. Its customers range from the US Airforce to the City of Santa Clara, and other municipalities. Impossible Aerospace is Alpine 4’s first acquisition in the UAV space and will serve as a cornerstone to build upon. The shareholders of Impossible Aerospace are primarily a grouping of larger venture capital funds such as; Bessemer Venture Partners, Eclipse Ventures, Airbus Ventures, and its CEO, Spencer Gore. The transaction will be completed in a reverse triangular merger transaction with a newly formed subsidiary of Alpine 4. Upon meeting the final closing conditions, Impossible Aerospace will be a wholly owned subsidiary of Alpine 4. Impossible Aerospace and Alpine 4 expect to have the closing conditions meet by December 10th 2020. Mr. Gore has been retained by the Company to help assist in the knowledge transfer of US-1 Drone and to assist in procuring new US Military Contracts.
Kent Wilson, CEO of Alpine 4, had this to say, “The essence of Alpine 4 is our business model of DSF- Driver, Stabilizer, Facilitator. For the past 4 years, we have been actively acquiring revenue-generating companies that fall into the Stabilizer and Facilitator categories. We purposefully did this to …