Alpine 4 Technologies, Ltd., owner of leading small market businesses, announced 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 expected 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.
Transaction Highlights:
- Mature and Highly Developed Drone Ecosystem: The acquisition of IA will allow Alpine 4 to dominate the emerging drone market with market-leading airframe and battery technology that enables real missions over 70 minutes.
- Multiple Large Market Opportunities: The ancillary markets of EMS Surveillance and Short Haul Delivery that can be supported by IA’s drone technology are large and growing.
- Patented IP: The Intellectual Property granted in the purchase of IA by Alpine 4 is supported by two patents pending and five provisional patents.
- Vertical Manufacturing: Having the IA manufacturing process within our subsidiary, Quality Circuit Assembly, Inc., will greatly enhance our ability to push production efficiencies to the front line. The time it takes to go from prototype to production will be cut in half.
