Alpine 4 Technologies, Ltd., (OTCQB: ALPP) finished the Monday session up 41.94% at $4.400. The stock went up to $4.79 at the same session, while its lowest single-day price was $349. Alpine 4 shares have gained by almost 929.72% over a month in contrast with a weekly performance of 70.54%.
As the company, which runs some of the leading small market businesses in the country, announced on December 28, 2020,that it had signed a binding Letter of Intent with Vayu Inc. Vayu manufactures high-performance vertical takeoff and landing (VTOL) hybrid propulsion-powered, autonomous aircraft.
Their customers range from national governments to private companies in Australia, Canada, and sub-Saharan Africa across various sectors. Vayu will serve as a vital addition to Impossible Aerospace’s platform capabilities and represents Alpine 4’s second recent acquisition in the fast-growing UAV space.
The Vayu shareholders mostly include leading venture capital gurus and angel investors like Tesla Motors co-founders Marc Tarpenning and Martin Eberhard and NASA astronaut Esther Dyson and public health experts.
Likewise, the transaction between Impossible Aerospace and Alpine 4 will conclude in a reverse triangular merger. Once Vayu meets the closing conditions, it will become a wholly-owned subsidiary of Alpine 4. Alpine 4 and Vayu expect the closing to be completed by January 10, 2021. Daniel Pepper, the current Vayu CEO, will keep his position.