In today’s increasingly polarized America, politics is deeply infiltrating finance and business. Investors who want to support a conservative alternative to left-leaning platforms should consider doing business with new special purpose acquisition companies (SPACs).
On Friday, October 6th, Colombier Acquisition Corp. II S-1 form We have filed with the U.S. Securities and Exchange Commission (SEC) to disclose the terms of our SPAC initial public offering (IPO). Colombier II will float 13 million units at $10.00 each to raise $130 million. The company plans to list on the New York Stock Exchange (NYSE) under the ticker CLBR.U. As of now, the release date has not been determined.
A blank check company established in the Cayman Islands is Omeed Malik takes the lead, former Bank of America director and founder of Farbahar Partners and 1789 Capital. Colombier II will target startups in the Entrepreneurship, Innovation, and Growth (“EIG”) economy with a size ranging from $150 million to $2 billion.
Malik, who started his career as a speechwriter in Washington, D.C., is steeped in his ideas. political values to his entrepreneurial work. In recent years, he has become a market maker in the emerging “patriotic parallel economy” that caters to consumers uninterested in the progressive ideology often promoted by big tech platforms and corporate brands. Earlier this year he told Fox News“‘Red America’ represents the world’s third-largest economy by GDP,” suggesting that conservative spending power has vast untapped potential.
round 2
This is Malik’s follow-up action to the original Colombier Acquisition Corp. I, another SPAC that merged with PublicSq in July of this year. Holdings, Inc. (“PSQH”). Public Square is a digital marketplace that promotes itself as a patriotic alternative to “anti-woke capitalism.” Aiming to compete with Amazon. The company, which went public on Independence Day this year, claims it is designed to help “freedom-loving Americans” enjoy “a business that aligns with their values.”
The platform witnessed strong results Growth over the past year. Consumer membership grew by 271%, from 385,000 members as of December 31, 2022 to more than 1.43 million as of July 31, 2023. The number of vendors has nearly doubled from 32,851 as of December 31, 2022 to approximately 65,000 as of July. 31st, 2023.
However, the company’s stock market performance wasn’t all that surprising.the stock prices jumped In its first month of listing, it reached a high of around $30 on July 20th. In the months since then, PSQH has steadily declined and is currently trading around the $6 mark.
Investors interested in this new SPAC deal will need to figure out who Colombier II’s acquisition target is and keep an eye on Wall Street’s appetite for IPOs as the market moves into the final quarter of the year. .
