Shares of Colombier Acquisition Corp. II ( CLBR ) are trading higher Monday following the announcement of an amended regulatory filing tied to its proposed business combination with online firearms retailer GrabAGun.

What To Know: The surge comes as investors react positively to the updated Form S-4 registration statement and investor presentation submitted to the SEC, signaling continued progress toward taking GrabAGun public.

The deal, originally announced in January 2025, will see GrabAGun Digital Holdings Inc. become a publicly listed company under the proposed ticker symbols "PEW" and "PEWW" on the New York Stock Exchange. Monday's 8-K filing includes a revised investor presentation that updates key financial metrics through March 31 2025. The business combination is expected to close by summer, pending shareholder and regulatory approval.

Colombier II is a SPAC led by Omeed Malik, a prominent investor and political commentator. The deal has drawn further attention due to the involvement of Donald Trump Jr., who is backing the venture and will appear alongside Malik on CNBC tomorrow to discuss the transaction and the outlook for the company.

The SPAC's price action reflects growing investor interest in firearm and ammunition-related businesses amid a volatile regulatory and political climate. GrabAGun, known for its strong e-commerce presence in the firearms space, aims to capitalize on increased demand for direct-to-consumer gun and accessory sales. The public debut via SPAC gives the company access to capital markets and broader exposure as it looks to scale operations.

With the updated filing now in place and high-profile appearances set to draw further media attention, traders are positioning ahead of potential developments in the run-up to the vote and closing of the deal.

CLBR Price Action: Colombier shares were up 9.59% at $16.81 at the time of writing, according to Benzinga Pro.

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