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.