Colombier's SPAC IPO Raises $299M on NYSE

IPO Details and Market Debut

Colombier Acquisition Corp. III has successfully completed its initial public offering, raising gross proceeds of $299 million. The company's units began trading on the New York Stock Exchange under the ticker symbol "CLBR U".

The offering consisted of 29.9 million units priced at $10.00 per unit, a figure that includes the full exercise of the underwriters’ over-allotment option of 3.9 million units.

Offering Structure and Financials

Each unit sold consists of one Class A ordinary share and one-eighth of a redeemable warrant. A whole warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50.

Following the IPO and a simultaneous private placement, the company has placed the $299 million in proceeds into a trust account. Roth Capital Partners acted as the sole book-running manager for the offering, with StoneX Financial Inc. serving as manager.

Company Profile and Leadership

Colombier Acquisition Corp. III is a special purpose acquisition company, or SPAC, also known as a blank check company. Its primary objective is to effect a merger, acquisition, or a similar business combination with one or more businesses.

The management team is led by Chief Executive Officer Omeed Malik. The board of directors includes several notable figures such as Donald J. Trump Jr., Chris Buskirk, Blake Masters, Chamath Palihapitiya, and Laura Ingraham.

Summary and Outlook

With the IPO funds secured in trust, Colombier Acquisition Corp. III is now positioned to seek a business combination. Market participants will monitor the company's progress in identifying a suitable merger target. The separate trading of shares and warrants under "CLBR" and "CLBR WS" will commence at a future date.

FAQ

Q: What is Colombier Acquisition Corp. III?
A: It is a blank check company, also known as a SPAC, formed for the purpose of executing a merger or acquisition with another business.

Q: How much capital did the IPO raise?
A: The initial public offering raised total gross proceeds of $299 million.

Q: What are the company's ticker symbols?
A: The units trade on the NYSE under "CLBR U". The common shares and warrants will later trade separately under "CLBR" and "CLBR WS", respectively.

Source: Investing.com