{"id":383039,"date":"2020-11-17T09:03:46","date_gmt":"2020-11-17T14:03:46","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=383039"},"modified":"2020-11-17T09:03:46","modified_gmt":"2020-11-17T14:03:46","slug":"alpine-4-technologies-ltd-alpp-enters-the-commercial-drone-market-with-its-acquisition-of-impossible-aerospace-corporation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/alpine-4-technologies-ltd-alpp-enters-the-commercial-drone-market-with-its-acquisition-of-impossible-aerospace-corporation\/","title":{"rendered":"Alpine 4 Technologies, Ltd. (ALPP) Enters the Commercial Drone Market With its Acquisition of Impossible Aerospace Corporation"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n PHOENIX<\/span>, Nov. 17, 2020<\/span> \/PRNewswire\/ —\u00a0Alpine 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.\u00a0 Impossible Aerospace builds high-performance electric aircraft and drones.\u00a0 Its customers range from the US Airforce to the City of Santa Clara, and other municipalities.\u00a0 Impossible Aerospace is Alpine 4’s first acquisition in the UAV space and will serve as a cornerstone to build upon.\u00a0\u00a0 The\u00a0 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<\/span>.\u00a0\u00a0 The transaction will be completed in a reverse triangular merger transaction with a newly formed subsidiary of Alpine 4. \u00a0Upon meeting the final closing conditions, Impossible Aerospace will be a wholly owned subsidiary of Alpine 4. \u00a0Impossible Aerospace and Alpine 4 expect to have the closing conditions meet by December 10<\/span>th<\/sup> 2020. \u00a0Mr. 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.\u00a0<\/p>\n

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Strategic Rationale<\/p>\n

\n Kent Wilson<\/span>, CEO of Alpine 4, had this to say, “The essence of Alpine 4 is our business model of DSF-\u00a0 Driver, Stabilizer, Facilitator.\u00a0 For the past 4 years, we have been actively acquiring revenue-generating companies that fall into the Stabilizer and Facilitator categories.\u00a0 We purposefully did this to add infrastructure and substance to our corporate holdings.\u00a0 The Driver category is a whole different animal and typically consists of companies that are early revenue but have the potential for explosive growth and opportunity.\u00a0\u00a0 I recognized early on that Impossible Aerospace (IA) was what I call a unicorn Driver company.\u00a0\u00a0 They checked off all the boxes; patented or patentable IP, leading-edge but not bleeding edge technology, well-funded development behind its IP, and a market space of $5 billion<\/span> or larger.\u00a0 Couple that with the fact that Alpine 4’s subsidiary, Quality Circuit Assembly, Inc. has been building many of the essential components that go into Impossible Aerospace’s revolutionary US-1 drone, furthering our desire to make the acquisition.\u00a0\u00a0\u00a0\u00a0 <\/p>\n

Early in the manufacturing relationship with Impossible Aerospace (IA), I expressed my interest in Alpine 4 one day acquiring IA to our sales leadership team at QCA. This year we were able to have a substantive dialogue with Spencer Gore<\/span>, the CEO of IA, about what a transaction might look like.\u00a0 We both agreed that Alpine 4 and its vast manufacturing resources and commercial connections would make IA a home run in the Alpine 4 umbrella of companies.”<\/p>\n

\n Spencer Gore<\/span>, CEO of Impossible Aerospace commented, “Alpine 4 and Impossible Aerospace are combining with a simple mission: to build the nation’s most vertically integrated UAV manufacturer. While most domestic drone makers today rely on a jumbled network of third-party vendors for key components, we envision a single factory that receives raw materials in one door and ships validated aircraft out the other — enabling better products, faster development cycles, and higher profit margins. Impossible Aerospace’s shareholders all believe the long-term growth opportunity of the combined company exceeds that of its parts, and are excited to take this next step on the fulfillment of our mission to build the world’s most capable aircraft.”<\/p>\n

Transaction Highlights<\/p>\n