Colombier Acquisition Corp. II ( CLBR ) stock traded lower Tuesday as investors weighed potential risks tied to the company’s imminent merger with GrabAGun, an online retailer of firearms and ammunition.

On Friday, Colombier II announced it had received minimal redemption requests from shareholders ahead of the deal’s expected closing, signaling strong investor support.

The company anticipates delivering more than $179.1 million in gross proceeds to GrabAGun Digital Holdings upon completion of the transaction, expected to close today, July 15, 2025.

Also Read: Colombier Acquisition Corp. II Shares Surge As GrabAGun SPAC Deal Advances With New Filing

Nearly all of Colombier’s trust account will be transferred to the merged entity, and the company confirmed it will not permit reversal of submitted redemption requests.

An extraordinary general meeting was scheduled for July 15 for shareholders to vote on the proposals tied to the transaction.

The merger agreement was originally signed on January 6, 2025, and pending NYSE approval, the combined company is expected to trade under the ticker symbols “PEW” and “PEWW.”

Despite minimal redemptions, the stock may be under pressure due to concerns around GrabAGun’s entry into public markets as a politically sensitive and highly regulated business and uncertainty over its post-merger financial performance. Some investors may also be engaging in profit-taking or “sell-the-news” behavior following confirmation of the merger.

Price Action: CLBR shares are trading lower by 7.13% at $15.75 at Tuesday’s last check.

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