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Completed · 15 Jul 2025CLBR U · NYSECIK 1995413Sponsor at IPO: Colombier Sponsor II LLC

COLOMBIER ACQUISITION CORP. II

$170MTrust raised at IPO

Merged with GrabAGun Digital Holdings Inc. (PEW) · Consumer

  1. IPO20 Nov 2023
  2. Searching24 months
  3. Deal announcedAgreement signed
  4. Closed15 Jul 2025

Tavia Read What stands out, from the filings · snapshot 14

  1. 01

    Larger than 81% of 2023’s SPAC IPOs.

    $170M raised, against a median of $69M for the 31 SPACs that priced in 2023.

  2. 02

    $10.00 in trust per unit, below the 2023 median.

    The median that year was $10.10. Above $10.00, the sponsor tops up the trust from its own private placement.

  3. 03

    Closed its merger 20 months after its IPO.

    The combined company is GrabAGun Digital Holdings Inc. (PEW). Sector: Consumer.

Worked out from checked figures in snapshot 14 · no forecasts or advice

Key terms

Other 2023 SPAC IPOs →
IPO priced
20 Nov 2023
IPO closed
24 Nov 2023
Raised
$170M1
Units sold
17,000,0002
Trust raised
$170M3
Trust per unit
$10.004
Unit
1 sh + ⅓ warrant5
Months to complete
246
Deadline before extensions
24 Nov 2025
Over-allotment
Exercised in part

Each unit: “one Class A ordinary share and one-third of one redeemable warrant”

How it compares

COLOMBIER ACQUISITION CORP. II against the 31 SPACs that priced in 2023.

Raised
$170M
81% of 2023 SPACs are below it
2023 median: $69M
Trust per unit
$10.00
87% of 2023 SPACs are above it
2023 median: $10.10
Months to complete
24
84% of 2023 SPACs are below it
2023 median: 12

Trust and redemptions

No extension or merger vote with paid redemptions is on record for this SPAC yet.

Firms named in the prospectus

Bookrunners

Underwriters’ counsel

Other SPACs from Colombier

Colombier’s track record →

Colombier has brought 3 SPACs to market since 1 January 2019, $642M in all: 2 completed, 1 searching. 2 of the 2 that reached an end completed a merger.

SPACIPORaisedStatusOutcomeMonths
Colombier Acquisition Corp. III3 Feb 2026$299MSearching——
COLOMBIER ACQUISITION CORP. II This SPAC20 Nov 2023$170MCompletedGrabAGun Digital Holdings Inc. (PEW)20
Colombier Acquisition Corp.8 Jun 2021$173MCompletedPSQ Holdings, Inc. (PSQH)25

Months: from the IPO to the merger’s closing or the liquidation. SPACs are grouped by sponsor when their names, or their sponsor entities, match once the legal form and series numeral are taken off.

Peers

Other 2023 SPAC IPOs with BTIG, LLC as bookrunner.

SPACIPORaisedUnitStatus
Israel Acquisitions Corp12 Jan 2023$144M1 sh + 1 warrantSearching

Sources

  1. PFinal prospectus: 0001213900-23-089387
  2. 1Gross proceeds: 0001213900-23-091555The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $170,000,000.
  3. 2Units sold: 0001213900-23-091555the Company sold 17,000,000 Units, which includes a partial exercise by the underwriter of their over-allotment option in the amount of 2,000,000 Units, at a purchase price of $10.00 per Unit.
  4. 3Trust raised: 0001213900-23-091555an amount of $170,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in the trust account
  5. 4Trust per unit: 0001213900-23-089387$150,000,000, or $172,500,000 if the underwriters’ over-allotment option is exercised in full ($10.00 per unit in either case), will be deposited into a trust account in the United States
  6. 5Unit composition: 0001213900-23-089387Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-third of one redeemable warrant.
  7. 6Months to complete: 0001213900-23-089387The completion window ends (i) 24 months from the closing of this offering, or 27 months from the closing of this offering if we have executed a letter of intent

Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.

How the figures are compiled
  • Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
  • Dated by. The date of the final prospectus.
  • Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
  • Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
  • Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
  • Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
  • Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
  • Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
  • Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
  • Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
  • Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
  • Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
  • Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
  • Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
  • Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
  • Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.

Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026

For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.