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.
Recent Posts
by Marlena Haddad on 2023-12-08 at 1:59pm

Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...

by Nicholas Alan Clayton on 2023-12-08 at 11:12am

Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...

by Marlena Haddad on 2023-12-08 at 10:27am

EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...

by Marlena Haddad on 2023-12-08 at 9:42am

Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...

by Nicholas Alan Clayton on 2023-12-08 at 7:48am

At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved