Colombier Acquisition Corp. III (NYSE: CLBR U) announced the closing of its initial public offering of 29,900,000 units, including 3,900,000 units issued through the underwriters' over-allotment option, at $10.00 per unit for total gross proceeds of $299 million. Each unit consists of one Class A ordinary share and one-eighth of one redeemable warrant, with whole warrants exercisable at $11.50 per share. The units trade on the New York Stock Exchange under the symbol 'CLBR U,' with underlying shares and warrants expected to trade separately as 'CLBR' and 'CLBR WS.'
The company placed $299 million in trust and will seek to complete a merger or similar business combination. Roth Capital Partners served as sole book running manager, and StoneX Financial Inc. acted as manager. Colombier III is a blank check company formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While Colombier III may pursue an initial business combination in any business or industry, it expects to focus on a target in an industry where it believes its management team and founder's expertise will provide it with a competitive advantage.
The successful completion of this IPO underscores continued investor appetite for special purpose acquisition companies (SPACs), despite a cooling market. The $299 million raised provides significant firepower for a potential merger, and the management's stated focus on leveraging its expertise suggests a targeted approach rather than a broad search. For more information, visit https://www.colombierspac.com/. To view the full press release, visit https://ibn.fm/m5NoZ.
