financetom
Business
financetom
/
Business
/
Trump backer Omeed Malik's SPAC to merge with retailer GrabAGun in $150 million deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump backer Omeed Malik's SPAC to merge with retailer GrabAGun in $150 million deal
Jan 6, 2025 7:22 AM

Jan 6 (Reuters) -

U.S. President-elect Donald Trump's donor Omeed Malik's

blank-check firm will merge with GrabAGun, an online retailer of

firearms, ammunition and gun accessories, in a deal valued at

$150 million, the companies said on Monday.

Trump's son Donald Trump Jr., newly appointed adviser to

GrabAGun, will become a shareholder after the company's deal

with Colombier Acquisition Corp. II ( CLBR ) closes in the

summer.

The merger will make GrabAGun one of several

conservative-leaning companies that have entered the stock

market in recent years, at a time when political pressure has

prompted a reevaluation of socially conscious investing.

Truth Social-parent Trump Media & Technology ( DJT ), lender

Chain Bridge Bancorp ( CBNA ) and video-sharing platform Rumble

are among the conservative-focused companies which have

gone public in the last few years.

"Much like Truth Social, PublicSquare and Rumble have

led the charge to protect the First Amendment, GrabAGun will do

the same for the Second Amendment," Trump Jr. said in a

statement, referring to U.S. constitutional protections for free

speech and the right to bear arms.

Malik, a former Democrat who was also a managing director at

Bank of America Merrill Lynch for six years, is part of

a group of rich tech investors who have shifted right and

embraced Trump in recent years.

He helped secure former independent presidential

candidate Robert F. Kennedy Jr.'s endorsement for Trump after

Kennedy dropped out of the race in August.

GrabAGun's shares are expected to trade on the New York

Stock Exchange under the "PEW" symbol.

Founded in 2010, the company offers an assortment of

sporting firearms, ammunition and accessories. It expects to

benefit from a shift to online shopping by younger firearm

enthusiasts, it said.

A blank-check firm, also known as a special purpose

acquisition company, offers a way for private companies to list

without the delays associated with a traditional initial public

offering.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
'Shogun' cast and other stars arrive to celebrate TV's Emmys
'Shogun' cast and other stars arrive to celebrate TV's Emmys
Sep 15, 2024
LOS ANGELES, Sept 15 (Reuters) - Selena Gomez, Jon Hamm, Reese Witherspoon and other stars stepped onto a red carpet in downtown Los Angeles on Sunday as Hollywood luminaries prepared to celebrate the best of television at the annual Emmy Awards. Shogun, a historical epic set in feudal Japan, headed into the ceremony as the frontrunner to take the night's...
PRESS DIGEST-Financial Times - Sept 16
PRESS DIGEST-Financial Times - Sept 16
Sep 15, 2024
Sept 16 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines -Asking prices for UK homes rise sharply in September -UK spending cuts would damage 'foundations of the economy', Reeves told - Starmer to meet Meloni for advice on tackling small-boat migration -...
'The Bear' stars win early awards at TV's Emmys
'The Bear' stars win early awards at TV's Emmys
Sep 15, 2024
LOS ANGELES, Sept 15 (Reuters) - The Bear stars Jeremy Allen White and Ebon Moss-Bachrach won their second Emmy Awards on Sunday as Hollywood luminaries gathered to celebrate the best of television. White was named best comedy actor for his role as Chef Carmy, a man trying to turn his family's Chicago sandwich shop into a fine dining establishment. This...
China's carrot-and-stick tactics on EU nations start to pay off
China's carrot-and-stick tactics on EU nations start to pay off
Sep 15, 2024
BEIJING (Reuters) -Beijing, as a vote on EU duties on China-made electric vehicles looms, employed a carrot-and-stick approach to deal with the 27-strong bloc, threatening trade retaliation while cajoling key EU states into one-on-one talks on deals and investments.  The potential blow of counter-tariffs on EU goods will fall mostly on states such as Spain, France and Italy that have...
Copyright 2023-2026 - www.financetom.com All Rights Reserved