PEW Stock Goes Public Today, with Donald Trump Jr. as Major Affiliate

GrabAGun, a leading online retailer of firearms, ammunition, and related accessories, has officially completed its business combination with Colombier Acquisition Corp. II (NYSE: CLBR), a special purpose acquisition company. The newly formed public entity, GrabAGun Digital Holdings Inc., begins trading today, July 16, 2025, on the New York Stock Exchange under the ticker symbols “PEW” (common stock) and “PEWW” (warrants).

The transaction, approved by Colombier II shareholders at a special meeting on July 15, 2025, delivered over $179 million in gross proceeds. After secondary proceeds and transaction-related expenses, the company netted more than $119 million, earmarked for working capital, corporate initiatives, and future acquisitions. Notably, the deal closed with near-zero redemptions, signaling strong shareholder confidence.

As part of the transaction, Donald Trump Jr., the son of President Donald Trump, joined GrabAGun Digital’s Board of Directors and participated in ringing the NYSE opening bell. A vocal supporter of Second Amendment rights, Trump Jr. described GrabAGun as “synonymous with pro-American values” and praised the company’s scalable platform and commitment to the legal firearms market.

"This success reflects shareholder confidence in GrabAGun’s business model and mission," he stated. "I’m proud to support Marc Nemati and the team as they reshape the firearms industry."

CEO Marc Nemati added, “This is a major milestone not only for our company but also for the broader 2A and shooting sports community. Our mission is to revolutionize the industry through a technology-first approach, and we are well-positioned to seize the opportunities ahead.”

Colombier II CEO and Chairman Omeed Malik echoed that sentiment, highlighting the lack of PIPE investment and unchanged float as signs of investor conviction. “We are proud to bring this opportunity to market and look forward to GrabAGun creating substantial value for all stakeholders.”

GrabAGun partners with top firearms brands such as Smith & Wesson, Glock, SIG Sauer, Ruger, and Hornady. Its e-commerce platform uses proprietary software to optimize inventory management, order processing, and pricing

As of September 30, 2024, the company reported $99.5 million in trailing 12-month revenue, marking 9.2% year-over-year growth, with a net income of $5 million. However, the company carries a debt-to-asset ratio of approximately 91%, indicating a highly leveraged balance sheet.

Following the transaction, both Colombier II and GrabAGun became wholly owned subsidiaries of GrabAGun Digital. BTIG, LLC and Roth Capital Partners, LLC served as capital markets advisors for the merger.