GrabAGun is an online retailer founded in 2010 offering firearms, ammunition and accessories.
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A Coppell online gun retailer that just tapped Donald Trump Jr. as an adviser aims to go public this summer in a deal valued at $150 million.
GrabAGun, which operates as Metroplex Trading Company LLC, announced Jan. 6 plans to go public through a merger with a special purpose acquisition company, Colombier Acquisition Corp. II. The combined company will be known as GrabAGun Digital Holdings Inc. and trade on the New York Stock Exchange under the symbol “PEW.”
Trump, a newly appointed advisor to GrabAGun, will become an equity holder once the transaction closes this summer. Although the use of SPACs has declined since peaking in 2020 and 2021, the deal showcases how they still remain as an alternative avenue for companies looking to go public.
GrabAGun is an online retailer founded in 2010 offering firearms, ammunition and accessories. The company said sales were $99.5 million for the 12 months that ended Sept 30.
“GrabAGun has developed a powerful, scalable platform that offers unmatched selection and service to Americans who wish to legally buy and own a firearm,” Trump said in a statement. “Backed by the exceptional leadership of Colombier II, I believe that CEO Marc Nemati and his team will revolutionize this industry, and I look forward to partnering with them and leveraging our combined resources to protect our fundamental rights, while driving significant growth for the company, as we move into 2025.”
Current equity holders will receive $100 million in stock in the combined company and $50 million of cash.
“In an industry that has historically been slow to adopt modern technology, we have developed a scalable solution that delivers a best-in-class buying experience to customers nationwide,” GrabAGun CEO Nemati said in a statement. “Through this transformative partnership with Colombier II, we gain the strategic funding and media expertise needed to amplify our reach and scale operations even further. Combined with our strong and visionary management team, this collaboration positions us to capitalize on numerous significant growth opportunities and deliver long-term value to our stakeholders.”
There were 613 SPAC initial public offerings in 2021, but that number dwindled to just 86 in 2022, according to SPAC Analytics. In 2024, there were 57 SPAC IPOs. The slowdown coincided with increased regulatory scrutiny and rising interest rates.
However, activity appears to be picking up, as seen with the GrabAGun deal. In the fourth quarter of 2024, there were 23 SPAC IPOs that raising a total of $3.8 billion — the highest quarterly proceeds in the past two years, according to advisory firm IRC Inc.
Dallas Business Journal’s Holden Wilen contributed reporting.