Colombier Acquisition Corp. II Reports $48,958 Net Loss and Prepares for Business Combination with GrabAGun

Colombier Acquisition Corp. II has reported its financial results for the quarter ending March 31, 2025, revealing a net loss of $48,958, a significant decline from the net income of $1,660,079 recorded in the same period last year. The company’s revenue primarily stems from interest earned on marketable securities held in its Trust Account, which amounted to $1,860,128 for the quarter, down from $2,228,698 in the previous year. General and administrative expenses surged to $1,909,086, compared to $568,619 in the prior year, reflecting increased operational costs as the company prepares for its planned business combination.

In terms of assets, Colombier Acquisition Corp. II reported total assets of $180.2 million as of March 31, 2025, a slight increase from $178.9 million at the end of 2024. The Trust Account, which holds the proceeds from the company’s Initial Public Offering (IPO), contained approximately $179.5 million, up from $177.6 million at the end of the previous year. The company’s cash reserves outside the Trust Account decreased to $442,670 from $905,040, indicating a tightening liquidity position as it navigates its operational expenses.

Strategically, the company is in the process of executing a business combination with GrabAGun, a Texas-based company, as outlined in the GrabAGun Business Combination Agreement signed on January 6, 2025. This agreement is part of a broader strategy to leverage the funds raised during the IPO, which generated gross proceeds of $170 million. The company has until February 24, 2026, to complete this business combination, or it will face mandatory liquidation. The ongoing geopolitical tensions and market volatility may pose risks to the successful completion of this transaction.

Operationally, the company has maintained a consistent number of shares outstanding, with 17 million Class A Ordinary Shares and 4.25 million Class B Ordinary Shares issued. The company’s management has indicated that it will continue to utilize the funds held in the Trust Account primarily for the business combination and related operational costs. As of the end of the reporting period, the company had not commenced any revenue-generating operations, which is typical for special purpose acquisition companies (SPACs) at this stage.

Looking ahead, Colombier Acquisition Corp. II faces challenges related to market conditions and the successful execution of its business combination. The company has acknowledged the potential need for additional capital to sustain operations and complete the business combination, raising concerns about its ability to continue as a going concern if the transaction does not materialize. The management remains focused on finalizing the business combination while navigating the complexities of the current economic landscape.