PSQ Holdings (dba PublicSq.) and Colombier Acquisition today announced a definitive business combination agreement. The announcement confirms reporting yesterday that a deal was imminent.
PSQ Holdings is a marketplace that connects who it describes as “freedom-loving” Americans. Colombier was founded by Omeed Malik, founder and CEO of Farvahar Partners.
Terms call for PublicSq. investors to receive $200 million in newly issued shares. If approved, PSQ Holdings would trade on the NYSE under the symbol PSQH. The deal is expected to close in the third quarter. The transaction is expected to provide up to $158.5 million in cash to PublicSq. to fund growth and expansion into new revenue streams, assuming no redemptions.
Ellenoff Grossman & Schole and Eversheds Sutherland are serving as legal advisors to Colombier. Wilmer Cutler Pickering Hale and Dorr is legal advisor to PublicSq. Read more.
