Colombier Acquisition Corp. (CLBR) Shareholders Approve PublicSq Deal
by Marlena Haddad on 2023-07-19 at 2:24pm

Colombier Acquisition Corp. (NYSE: CLBR) announced this afternoon that its shareholders approved its combination with values-based marketplace PublicSq at a special meeting held earlier today.

After accounting for stockholder redemptions, PublicSq. is set to receive approximately $34.9 million. This amount does not incorporate the additional $22.5 million raised from a private financing round concluded in June 2023. Colombier traded above its trust value of $10 throughout its redemption deadline on July 17 and is currently up 62.63% to $14.62 following the announcement.

Following the payment of transaction expenses, the funds released to PublicSq. from Colombier’s trust account will be utilized for various purposes, such as to support PublicSq.’s direct-to-consumer, and business-to-business operating expenses, to fund an increase in the company’s payroll in areas of engineering and product for the further development of PublicSq.’s platform functionality and scalability, and to launch targeted marketing initiatives and the expansion of PublicSq.’s outreach program.

The parties closed the deal shortly after receiving shareholder approval and the combined company will be renamed “PSQ Holdings, Inc.” Its common stock and warrants will trade on the NYSE under the symbols “PSQH” and “PSQH WS,” respectively, beginning July 20.

Colombier inked its $258 million deal with PublicSq earlier this year in February. The SPAC has an estimated $173.5 in its current trust and did not supplement this with additional committed capital. Additionally, the deal did not feature a minimum cash closing condition. PublicSq is developing an app-based marketplace for political conservatives in the US to seek out products aligned with their values.

Following the closing of the merger, PublicSq’s CEO Michael Seifert has a majority of the voting power in the company and will continue to drive PublicSq.’s mission of becoming the nation’s leading values-aligned marketplace.


  • Cantor Fitzgerald & Co. served as a capital markets advisor on the Business Combination.
  • Ellenoff Grossman & Schole LLP and Eversheds Sutherland LLP served as legal advisors to Colombier.
  • Wilmer Cutler Pickering Hale and Dorr LLP served as legal advisor to PublicSq.
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