Colombier Acquisition closed on the sale of an additional 2.25 million units pursuant to the full exercise of the underwriters’ over-allotment option in connection with the SPAC’s IPO. The additional units were sold at the IPO price of $10.00 per unit, generating gross proceeds of $22.5 million, boosting total gross IPO proceeds to $172.5 million.
B. Riley Securities was sole bookrunning manager for the offering.
The SPAC has said it will target companies in any sector with enterprise value of approximately $500 million to $1.25 billion. Read more.
