By Katherine Hamilton
Colombier Acquisition shares edged lower on Monday after the company agreed to combine with online firearms retailer Metroplex Trading, which does business as GrabAGun.
The stock fell about 7% to $10.91. It is up 8% over the past 12 months.
The transaction is valued at $150 million with current equity holders of GrabAGun receiving $100 million of stock in the combined company. The per-share price is $10.
Colombier is a special purpose acquisition company led by Omeed Malik, an investor who also helms the merchant bank Farvahar Partners.
GrabAGun sells firearms and ammunition online, and is hoping to appeal to a younger customer base. Donald Trump Jr. is a newly appointed adviser to the company.
The deal is scheduled to close in the summer of 2025. The combined company would be named GrabAGun Digital Holdings and trade under the symbol PEW.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 06, 2025 14:38 ET (19:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.